Westfield Capital Management Co. LP Acquires 6,183 Shares of Fair Isaac Corporation (NYSE:FICO)

Key Points

• Westfield Capital Management Co. increased its stake in Fair Isaac Corporation by 14.5%, owning approximately $90 million worth of shares by the end of the reporting period.
• Multiple institutional investors made significant changes to their positions, with 85.75% of the stock currently held by hedge funds and institutional investors.
• Fair Isaac reported record earnings with an EPS of $8.57, exceeding estimates and showing a 19.8% revenue increase year-over-year.

Westfield Capital Management Co. LP increased its position in shares of Fair Isaac Corporation (NYSE:FICO - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,827 shares of the technology company's stock after buying an additional 6,183 shares during the period. Westfield Capital Management Co. LP owned 0.20% of Fair Isaac worth $90,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of FICO. Meeder Asset Management Inc. boosted 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 purchasing an additional 5 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Fair Isaac by 4.6% in the first quarter. Baker Avenue Asset Management LP now owns 113 shares of the technology company's stock valued at $209,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co boosted its holdings in shares of Fair Isaac by 1.0% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 608 shares of the technology company's stock worth $1,210,000 after buying an additional 6 shares in the last quarter. City Holding Co. increased its stake in shares of Fair Isaac by 11.3% in the 1st quarter. City Holding Co. now owns 59 shares of the technology company's stock valued at $109,000 after acquiring an additional 6 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in Fair Isaac by 4.4% in the first quarter. Valeo Financial Advisors LLC now owns 142 shares of the technology company's stock worth $262,000 after purchasing an additional 6 shares during the period. 85.75% of the stock is currently owned by institutional investors and hedge funds.

Fair Isaac Stock Performance

NYSE:FICO traded down $9.88 on Friday, hitting $1,323.75. The stock had a trading volume of 206,524 shares, compared to its average volume of 265,034. Fair Isaac Corporation has a 1 year low of $1,313.69 and a 1 year high of $2,402.51. The firm's fifty day simple moving average is $1,666.39 and its two-hundred day simple moving average is $1,796.55. The stock has a market cap of $31.77 billion, a P/E ratio of 51.71, a price-to-earnings-growth ratio of 2.71 and a beta of 1.28.

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. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%. The business had revenue of $536.42 million for the quarter, compared to analyst estimates of $520.40 million. During the same period last year, the company posted $6.25 earnings per share. Fair Isaac's quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac declared that its Board of Directors has authorized a share 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 buy up to 2.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

FICO has been the subject of several recent research reports. Griffin Securities set a $2,000.00 price objective on Fair Isaac in a report on Wednesday, July 9th. BMO Capital Markets raised shares of Fair Isaac to a "strong-buy" rating in a research report on Thursday, July 10th. Raymond James Financial lowered their price objective on shares of Fair Isaac from $2,230.00 to $1,800.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Barclays dropped their price objective on shares of 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. Finally, Baird R W raised shares of Fair Isaac from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $2,163.14.

Insider Transactions at Fair Isaac

In related news, CEO William J. Lansing sold 3,811 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 44,338 shares in the company, valued at approximately $69,432,864.62. This represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven P. Weber sold 1,000 shares of the stock in a transaction on 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 directly owned 1,862 shares of the company's stock, valued at approximately $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 have sold 19,032 shares of company stock valued at $35,172,583 in the last 90 days. 3.46% of the stock is currently owned by corporate 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.