Truist Financial Corp Raises Stock Position in Fair Isaac Corporation $FICO

Key Points

• Truist Financial Corp increased its stake in Fair Isaac Corporation by 15.4% in the second quarter, bringing its holdings to 3,194 shares valued at approximately $5.84 million.
• Fair Isaac reported earnings of $8.57 per share, exceeding analyst expectations, with revenue up 19.8% year-over-year, totaling $536.42 million.
• The company has initiated a $1.00 billion stock buyback program, indicating that its board believes its shares are currently undervalued.

Truist Financial Corp raised its stake in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,194 shares of the technology company's stock after buying an additional 427 shares during the period. Truist Financial Corp's holdings in Fair Isaac were worth $5,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FICO. ORG Partners LLC bought a new stake in shares of Fair Isaac in the second quarter worth $27,000. Geo Capital Gestora de Recursos Ltd purchased a new position in Fair Isaac in the first quarter worth about $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of Fair Isaac during the 1st quarter valued at about $30,000. Meeder Asset Management Inc. lifted its stake in shares of Fair Isaac by 41.7% in the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock worth $31,000 after purchasing an additional 5 shares during the period. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Fair Isaac in the second quarter worth approximately $31,000. 85.75% of the stock is owned by institutional investors.

Fair Isaac Trading Down 0.0%

NYSE:FICO opened at $1,849.87 on Tuesday. The stock has a 50-day moving average price of $1,482.81 and a 200 day moving average price of $1,700.97. The stock has a market capitalization of $44.40 billion, a P/E ratio of 72.35, a P/E/G ratio of 2.14 and a beta of 1.35. Fair Isaac Corporation has a 12-month low of $1,300.00 and a 12-month high of $2,402.51.

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

Fair Isaac announced that its Board of Directors has initiated a stock buyback program on Thursday, June 19th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on FICO shares. Barclays upped their target price on shares of Fair Isaac from $2,000.00 to $2,400.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Wells Fargo & Company set a $2,300.00 target price on Fair Isaac in a report on Wednesday, October 1st. Jefferies Financial Group reissued a "buy" rating on shares of Fair Isaac in a report on Thursday, July 17th. Oppenheimer reduced their price target on Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Griffin Securities set a $1,800.00 price objective on Fair Isaac in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Fair Isaac currently has a consensus rating of "Moderate Buy" and an average price target of $2,130.29.

Insider Transactions at Fair Isaac

In other Fair Isaac news, CEO William J. Lansing sold 6,011 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $1,537.50, for a total value of $9,241,912.50. Following the sale, the chief executive officer owned 42,138 shares in the company, valued at $64,787,175. The trade was a 12.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

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