Vestcor Inc Trims Holdings in Fair Isaac Corporation (NYSE:FICO)

Key Points

• Vestcor Inc has reduced its stake in Fair Isaac Corporation by 3.9%, selling 388 shares and now holding 9,587 shares valued at $17,680,000.
• Significant institutional interest is evident, with over 85.75% of Fair Isaac's stock owned by institutional investors, indicating strong market confidence.
• Recent earnings results showed Fair Isaac exceeding estimates with $7.81 EPS, leading analysts to maintain a consensus rating of "Buy" and a price target of approximately $2,218.64.

Vestcor Inc lessened its holdings in Fair Isaac Corporation (NYSE:FICO - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,587 shares of the technology company's stock after selling 388 shares during the quarter. Vestcor Inc's holdings in Fair Isaac were worth $17,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. XTX Topco Ltd grew its position in shares of Fair Isaac by 16.3% during the 1st quarter. XTX Topco Ltd now owns 292 shares of the technology company's stock valued at $538,000 after acquiring an additional 41 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Fair Isaac in the 1st quarter worth $3,207,000. GSA Capital Partners LLP lifted its stake in Fair Isaac by 503.6% in the 1st quarter. GSA Capital Partners LLP now owns 996 shares of the technology company's stock worth $1,837,000 after purchasing an additional 831 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Fair Isaac in the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its position in shares of Fair Isaac by 41.7% during the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company's stock valued at $31,000 after buying an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 85.75% of the company's stock.

Fair Isaac Price Performance

FICO traded down $53.25 on Friday, reaching $1,383.47. 798,459 shares of the company's stock were exchanged, compared to its average volume of 262,484. The stock has a market cap of $33.67 billion, a PE ratio of 54.11, a P/E/G ratio of 2.46 and a beta of 1.28. Fair Isaac Corporation has a twelve month low of $1,350.00 and a twelve month high of $2,402.51. The stock's fifty day moving average price is $1,694.05 and its 200-day moving average price is $1,816.71.

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 analysts' consensus estimates of $7.75 by $0.82. The firm had revenue of $536.42 million for the quarter, compared to analyst estimates of $520.40 million. Fair Isaac had a net margin of 32.80% and a negative return on equity of 52.54%. Fair Isaac's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $6.25 earnings per share. As a group, research analysts predict 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 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 usually a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Fair Isaac news, CFO Steven P. Weber sold 1,000 shares of Fair Isaac 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 transaction, the chief financial officer directly owned 1,862 shares of the company's stock, valued at $3,236,621.50. The trade was a 34.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director directly owned 242 shares in the company, valued at $505,175. This trade represents a 76.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,829 shares of company stock valued at $36,836,320 over the last ninety days. Company insiders own 3.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FICO shares. Oppenheimer cut their price target on shares of Fair Isaac from $2,300.00 to $1,953.00 and set an "outperform" rating on the stock in a report on Thursday. Bank of America started coverage on shares of Fair Isaac in a research note on Thursday, April 10th. They set a "buy" rating and a $2,800.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Barclays lowered their target price on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 9th. Finally, BMO Capital Markets raised shares of Fair Isaac to a "strong-buy" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $2,163.14.

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.