Wells Fargo & Company Cuts Fair Isaac (NYSE:FICO) Price Target to $2,300.00

Fair Isaac (NYSE:FICO - Free Report) had its target price reduced by Wells Fargo & Company from $2,600.00 to $2,300.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company's stock.

A number of other equities research analysts also recently weighed in on FICO. Oppenheimer lifted their price target on shares of Fair Isaac from $2,293.00 to $2,300.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group reiterated a "buy" rating and set a $2,500.00 price target (up previously from $2,225.00) on shares of Fair Isaac in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and set a $2,575.00 price target on shares of Fair Isaac in a research note on Friday, June 20th. Robert W. Baird upgraded shares of Fair Isaac from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $2,021.00 to $1,900.00 in a research note on Wednesday, May 28th. Finally, Bank of America assumed 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 target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $2,263.29.

Fair Isaac Price Performance

FICO traded down $43.68 during trading on Wednesday, reaching $1,540.70. 379,480 shares of the stock traded hands, compared to its average volume of 203,472. The stock's 50-day simple moving average is $1,855.28 and its two-hundred day simple moving average is $1,865.49. Fair Isaac has a fifty-two week low of $1,484.29 and a fifty-two week high of $2,402.52. The stock has a market cap of $37.50 billion, a price-to-earnings ratio of 66.35, a price-to-earnings-growth ratio of 2.55 and a beta of 1.28.

Fair Isaac (NYSE:FICO - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $498.74 million during the quarter, compared to analyst estimates of $500.45 million. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. Fair Isaac's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.14 EPS. Research analysts anticipate that Fair Isaac will post 24.15 earnings per share for the current fiscal year.

Fair Isaac announced that its board has initiated 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 repurchase up to 2.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Marc F. Mcmorris sold 797 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $2,087.50, for a total transaction of $1,663,737.50. Following the completion of the transaction, the director directly owned 242 shares of the company's stock, valued at $505,175. This trade represents a 76.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Lansing sold 3,811 shares of the firm'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 transaction of $5,967,987.89. Following the transaction, the chief executive officer directly owned 44,338 shares of the company's stock, valued at $69,432,864.62. This represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,906 shares of company stock valued at $45,222,913 in the last quarter. 3.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fair Isaac

Hedge funds have recently added to or reduced their stakes in the business. Nebula Research & Development LLC acquired a new position in shares of Fair Isaac in the fourth quarter valued at about $2,540,000. CWA Asset Management Group LLC raised its stake in Fair Isaac by 15.1% in the 1st quarter. CWA Asset Management Group LLC now owns 145 shares of the technology company's stock worth $267,000 after purchasing an additional 19 shares in the last quarter. QRG Capital Management Inc. raised its stake in Fair Isaac by 4.5% in the 1st quarter. QRG Capital Management Inc. now owns 395 shares of the technology company's stock worth $728,000 after purchasing an additional 17 shares in the last quarter. Brighton Jones LLC raised its stake in Fair Isaac by 168.7% in the 4th quarter. Brighton Jones LLC now owns 481 shares of the technology company's stock worth $958,000 after purchasing an additional 302 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Fair Isaac by 55.6% in the 1st quarter. GAMMA Investing LLC now owns 140 shares of the technology company's stock worth $258,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 85.75% of the company's stock.

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.