Spear Holdings RSC Ltd Buys New Holdings in Fair Isaac Corporation (NYSE:FICO)

Spear Holdings RSC Ltd acquired a new stake in Fair Isaac Corporation (NYSE:FICO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 21,400 shares of the technology company's stock, valued at approximately $39,465,000. Fair Isaac comprises about 3.0% of Spear Holdings RSC Ltd's investment portfolio, making the stock its 10th biggest holding. Spear Holdings RSC Ltd owned about 0.09% of Fair Isaac at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FICO. Rakuten Securities Inc. boosted its position in Fair Isaac by 160.0% during the 4th quarter. Rakuten Securities Inc. now owns 13 shares of the technology company's stock worth $26,000 after acquiring an additional 8 shares during the period. Pinnacle Holdings LLC acquired a new stake in Fair Isaac in the fourth quarter worth about $26,000. Avalon Trust Co acquired a new stake in Fair Isaac in the fourth quarter worth about $40,000. OFI Invest Asset Management bought a new position in Fair Isaac in the 4th quarter valued at about $42,000. Finally, Colonial Trust Co SC increased its stake in Fair Isaac by 71.4% during the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company's stock valued at $48,000 after buying an additional 10 shares during the period. 85.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FICO. Jefferies Financial Group reaffirmed a "buy" rating and issued a $2,500.00 price target (up from $2,225.00) on shares of Fair Isaac in a research note on Wednesday, May 14th. Bank of America started coverage on Fair Isaac in a research report on Thursday, April 10th. They issued a "buy" rating and a $2,800.00 target price for the company. Robert W. Baird raised Fair Isaac from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $2,021.00 to $1,900.00 in a research note on Wednesday, May 28th. Oppenheimer boosted their price objective on Fair Isaac from $2,116.00 to $2,293.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Raymond James Financial restated an "outperform" rating on shares of Fair Isaac in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,304.15.

Fair Isaac Price Performance

NYSE:FICO traded up $12.75 during trading hours on Friday, reaching $1,855.53. The company's stock had a trading volume of 88,775 shares, compared to its average volume of 194,752. The company has a market cap of $45.16 billion, a price-to-earnings ratio of 79.91, a price-to-earnings-growth ratio of 2.97 and a beta of 1.28. Fair Isaac Corporation has a one year low of $1,484.29 and a one year high of $2,402.52. The business's 50-day moving average is $1,879.96 and its 200-day moving average is $1,877.88.

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

Fair Isaac declared that its Board of Directors has approved a share buyback plan on Thursday, June 19th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Thomas A. Bowers sold 4,077 shares of Fair Isaac stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $2,057.05, for a total value of $8,386,592.85. Following the transaction, the executive vice president owned 9,974 shares of the company's stock, valued at $20,517,016.70. This trade represents a 29.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven P. Weber sold 1,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the sale, the chief financial officer owned 1,862 shares of the company's stock, valued at $3,236,621.50. This trade represents a 34.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,851 shares of company stock worth $40,543,770 over the last ninety days. Company 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.