606 Shares in Fair Isaac Corporation $FICO Purchased by Summit Financial LLC

Key Points

• Summit Financial LLC has invested approximately $1.12 million in Fair Isaac Corporation, acquiring a total of 606 shares during the first quarter.
• The company recently reported an earnings per share (EPS) of $8.57, surpassing analysts' consensus estimate of $7.75 and showing a 19.8% increase in quarterly revenue compared to the previous year.
• Fair Isaac announced a $1 billion share buyback plan, indicating the board's belief that the company’s stock is undervalued.

Summit Financial LLC bought a new position in Fair Isaac Corporation (NYSE:FICO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 606 shares of the technology company's stock, valued at approximately $1,118,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its holdings in shares of Fair Isaac by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 145 shares of the technology company's stock valued at $267,000 after purchasing an additional 19 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Fair Isaac by 4.5% during the first quarter. QRG Capital Management Inc. now owns 395 shares of the technology company's stock valued at $728,000 after purchasing an additional 17 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Fair Isaac by 168.7% during the fourth quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock valued at $958,000 after purchasing an additional 302 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Fair Isaac by 55.6% during the first quarter. GAMMA Investing LLC now owns 140 shares of the technology company's stock valued at $258,000 after purchasing an additional 50 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Fair Isaac by 692.2% during the fourth quarter. Tidal Investments LLC now owns 14,133 shares of the technology company's stock valued at $28,138,000 after purchasing an additional 12,349 shares in the last quarter. 85.75% of the stock is owned by institutional investors.

Fair Isaac Stock Up 6.1%

FICO traded up $86.25 during midday trading on Thursday, reaching $1,505.62. The company had a trading volume of 243,924 shares, compared to its average volume of 269,738. The business has a 50-day moving average of $1,552.57 and a two-hundred day moving average of $1,749.17. The company has a market cap of $36.14 billion, a P/E ratio of 58.86, a P/E/G ratio of 2.77 and a beta of 1.28. Fair Isaac Corporation has a 1 year low of $1,300.00 and a 1 year high of $2,402.51.

Fair Isaac (NYSE:FICO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $8.57 EPS for the quarter, topping analysts' consensus estimates of $7.75 by $0.82. The business had revenue of $536.42 million during the quarter, compared to analysts' expectations of $520.40 million. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%.The business's quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.25 earnings per share. Fair Isaac has set its FY 2025 guidance at 29.150-29.150 EPS. On average, equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac announced that its board has initiated a stock repurchase program on Thursday, June 19th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Fair Isaac

In other Fair Isaac news, CFO Steven P. Weber sold 1,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total value of $1,738,250.00. Following the completion of the sale, the chief financial officer owned 1,862 shares in the company, valued at $3,236,621.50. This represents a 34.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William J. Lansing sold 3,811 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $1,565.99, for a total value of $5,967,987.89. Following the completion of the sale, the chief executive officer owned 44,338 shares of the company's stock, valued at approximately $69,432,864.62. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,021 shares of company stock valued at $22,247,892. Company insiders own 3.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Jefferies Financial Group reiterated a "buy" rating on shares of Fair Isaac in a research report on Thursday, July 17th. BMO Capital Markets upped their price objective on Fair Isaac from $1,650.00 to $1,800.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Robert W. Baird upgraded Fair Isaac from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Finally, Raymond James Financial reduced their price objective on Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,134.57.

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.