Somerville Kurt F Purchases New Shares in Fair Isaac Corporation (NYSE:FICO)

Somerville Kurt F acquired a new stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 378 shares of the technology company's stock, valued at approximately $697,000.

Other large investors have also modified their holdings of the company. Pinnacle Holdings LLC acquired a new position in shares of Fair Isaac during the fourth quarter worth approximately $26,000. Mechanics Financial Corp bought a new position in Fair Isaac in the 1st quarter worth approximately $46,000. Colonial Trust Co SC raised its position in Fair Isaac by 71.4% in the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock worth $48,000 after purchasing an additional 10 shares during the last quarter. Hollencrest Capital Management lifted its holdings in Fair Isaac by 766.7% during the 1st quarter. Hollencrest Capital Management now owns 26 shares of the technology company's stock worth $48,000 after buying an additional 23 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in Fair Isaac by 600.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 28 shares of the technology company's stock valued at $56,000 after buying an additional 24 shares during the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FICO has been the topic of several recent research reports. Baird R W raised shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Griffin Securities set a $2,000.00 target price on shares of Fair Isaac in a report on Wednesday, July 9th. BMO Capital Markets raised Fair Isaac to a "strong-buy" rating in a research note on Thursday, July 10th. Bank of America started coverage on Fair Isaac in a research note on Thursday, April 10th. They set a "buy" rating and a $2,800.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Fair Isaac has a consensus rating of "Buy" and an average target price of $2,218.64.

Fair Isaac Stock Performance

Fair Isaac stock traded up $4.90 during mid-day trading on Thursday, reaching $1,536.16. The stock had a trading volume of 220,101 shares, compared to its average volume of 372,383. The firm has a market capitalization of $37.39 billion, a PE ratio of 66.16, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28. Fair Isaac Corporation has a fifty-two week low of $1,477.11 and a fifty-two week high of $2,402.51. The stock's 50-day simple moving average is $1,740.50 and its 200-day simple moving average is $1,831.66.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The technology company reported $7.81 EPS for the quarter, topping analysts' consensus estimates of $7.33 by $0.48. Fair Isaac had a negative return on equity of 51.41% and a net margin of 31.36%. The firm had revenue of $498.74 million during the quarter, compared to analyst estimates of $500.45 million. During the same period in the previous year, the company posted $6.14 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts forecast that Fair Isaac Corporation will post 24.15 earnings per share for the current fiscal year.

Fair Isaac declared that its Board of Directors has approved a share repurchase program on Thursday, June 19th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Fair Isaac

In other news, Director Marc F. Mcmorris sold 797 shares of Fair Isaac stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the completion of the sale, the director owned 242 shares in the company, valued at approximately $505,175. This trade represents a 76.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven P. Weber sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the completion of the transaction, the chief financial officer directly owned 1,862 shares of the company's stock, valued at approximately $3,236,621.50. This represents a 34.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,906 shares of company stock valued at $45,222,913. Corporate insiders own 3.46% of the company's stock.

Fair Isaac Profile

Fair Isaac Corporation develops analytic, software, and digital decisioning technologies and services that enable businesses to automate, enhance, and connect decisions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Scores and Software. The Software segment provides pre-configured analytic and decision management solution designed for various business needs or processes, such as account origination, customer management, customer engagement, fraud detection, financial crimes compliance, and marketing, as well as associated professional services.