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Share Buyback Program Initiated by Fair Isaac (NYSE:FICO)

Fair Isaac logo with Computer and Technology background

Fair Isaac (NYSE:FICO - Get Free Report) declared that its board has initiated a stock buyback plan on Thursday, June 19th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization allows the technology company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FICO. Barclays lowered their target price on shares of Fair Isaac from $2,350.00 to $2,250.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Needham & Company LLC reissued a "buy" rating and set a $2,575.00 price target on shares of Fair Isaac in a research report on Friday. Raymond James Financial reissued an "outperform" rating on shares of Fair Isaac in a research report on Wednesday, May 21st. Bank of America began coverage on shares of Fair Isaac in a research report on Thursday, April 10th. They set a "buy" rating and a $2,800.00 price target for the company. Finally, Royal Bank Of Canada raised shares of Fair Isaac from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $2,040.00 to $2,170.00 in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,304.15.

Check Out Our Latest Stock Report on FICO

Fair Isaac Price Performance

Shares of NYSE:FICO traded up $44.25 during trading on Friday, hitting $1,807.89. The company's stock had a trading volume of 261,274 shares, compared to its average volume of 193,292. The firm has a market cap of $44.01 billion, a price-to-earnings ratio of 77.86, a P/E/G ratio of 2.96 and a beta of 1.29. The company has a 50-day moving average of $1,888.42 and a 200-day moving average of $1,898.92. Fair Isaac has a 12 month low of $1,410.66 and a 12 month high of $2,402.52.

Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share for the quarter, topping the consensus estimate of $7.33 by $0.48. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The business had revenue of $498.74 million for the quarter, compared to the consensus estimate of $500.45 million. During the same period last year, the firm earned $6.14 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts anticipate that Fair Isaac will post 24.15 earnings per share for the current year.

Insider Transactions at Fair Isaac

In related news, EVP Thomas A. Bowers sold 4,077 shares of Fair Isaac stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $2,057.05, for a total transaction of $8,386,592.85. Following the transaction, the executive vice president now owns 9,974 shares in the company, valued at approximately $20,517,016.70. The trade was a 29.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Lansing sold 2,956 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $1,761.13, for a total value of $5,205,900.28. Following the sale, the chief executive officer now directly owns 42,138 shares in the company, valued at approximately $74,210,495.94. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,851 shares of company stock valued at $40,543,770 over the last quarter. 3.46% of the stock is currently owned by company insiders.

About Fair Isaac

(Get Free Report)

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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