TD Asset Management Inc Has $125.49 Million Position in Fair Isaac Corporation (NYSE:FICO)

Key Points

• TD Asset Management Inc increased its stake in Fair Isaac Corporation (NYSE:FICO) by 2.9% in the first quarter, bringing its total ownership to approximately $125.49 million or 0.28% of the company.
• Fair Isaac reported quarterly earnings of $7.81 per share, exceeding analysts' expectations, with a revenue increase of 15% year-over-year to $498.74 million.
• The company initiated a share repurchase program allowing for the buyback of up to $1 billion in shares, a move typically signaling that the board considers the stock undervalued.

TD Asset Management Inc increased its position in Fair Isaac Corporation (NYSE:FICO - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,048 shares of the technology company's stock after acquiring an additional 1,892 shares during the period. TD Asset Management Inc owned approximately 0.28% of Fair Isaac worth $125,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in shares of Fair Isaac in the 4th quarter worth approximately $26,000. Mechanics Financial Corp purchased a new stake in Fair Isaac in the 1st quarter valued at approximately $46,000. Colonial Trust Co SC lifted its stake in Fair Isaac by 71.4% in 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 in the last quarter. Hollencrest Capital Management lifted its stake in Fair Isaac by 766.7% in the 1st quarter. Hollencrest Capital Management now owns 26 shares of the technology company's stock valued at $48,000 after buying an additional 23 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 85.75% of the company's stock.

Fair Isaac Stock Up 1.9%

Shares of FICO stock traded up $28.70 on Wednesday, reaching $1,533.76. 75,776 shares of the stock were exchanged, compared to its average volume of 252,914. The stock has a market cap of $37.33 billion, a P/E ratio of 66.05, a price-to-earnings-growth ratio of 2.44 and a beta of 1.28. The firm has a 50 day moving average of $1,702.96 and a two-hundred day moving average of $1,821.99. Fair Isaac Corporation has a 1-year low of $1,477.11 and a 1-year high of $2,402.51.

Fair Isaac (NYSE:FICO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $500.45 million. During the same period in the prior year, the firm earned $6.14 EPS. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac declared that its board has initiated a stock buyback 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 typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

FICO has been the topic of a number of recent research reports. Wells Fargo & Company reduced 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. Griffin Securities set a $2,000.00 target price on Fair Isaac in a research note on Wednesday, July 9th. Barclays reduced their target price on Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Baird R W raised Fair Isaac from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Fair Isaac in a research note on Thursday, July 17th. 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.com, the company currently has an average rating of "Buy" and a consensus target price of $2,218.64.

Insider Buying and Selling

In other Fair Isaac news, CFO Steven P. Weber sold 1,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,738.25, for a total value of $1,738,250.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William J. Lansing sold 3,811 shares of Fair Isaac stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $1,565.99, for a total value of $5,967,987.89. Following the sale, the chief executive officer directly owned 44,338 shares in the company, valued at approximately $69,432,864.62. This trade represents a 7.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,906 shares of company stock valued at $45,222,913 in the last 90 days. 3.46% of the stock is currently owned by company insiders.

About Fair Isaac

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.