Wells Fargo & Company Raises Fair Isaac (NYSE:FICO) Price Target to $2,200.00

Fair Isaac (NYSE:FICO) had its target price hoisted by Wells Fargo & Company from $2,100.00 to $2,200.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

FICO has been the subject of several other research reports. Needham & Company LLC upped their target price on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Fair Isaac from $1,350.00 to $1,500.00 and gave the stock a sector perform rating in a research report on Thursday, August 1st. Barclays lifted their target price on shares of Fair Isaac from $1,800.00 to $2,150.00 and gave the stock an overweight rating in a research report on Friday, September 13th. UBS Group initiated coverage on Fair Isaac in a report on Tuesday. They issued a neutral rating and a $2,100.00 target price for the company. Finally, Oppenheimer assumed coverage on Fair Isaac in a research report on Tuesday, September 3rd. They set an outperform rating and a $1,967.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $1,775.25.

Fair Isaac Price Performance

Shares of NYSE FICO opened at $1,937.15 on Tuesday. Fair Isaac has a 1 year low of $811.99 and a 1 year high of $1,962.96. The stock has a market capitalization of $47.87 billion, a P/E ratio of 101.69, a P/E/G ratio of 4.69 and a beta of 1.34. The company has a 50-day moving average price of $1,767.57 and a 200-day moving average price of $1,492.25.

Fair Isaac (NYSE:FICO) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $4.99 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.34). The company had revenue of $447.85 million during the quarter, compared to analysts’ expectations of $448.53 million. Fair Isaac had a negative return on equity of 60.67% and a net margin of 28.94%. As a group, equities research analysts anticipate that Fair Isaac will post 19.19 earnings per share for the current fiscal year.

Fair Isaac announced that its board has approved a stock buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Fair Isaac

In other Fair Isaac news, EVP Mark R. Scadina sold 3,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $1,714.18, for a total transaction of $5,999,630.00. Following the sale, the executive vice president now owns 19,919 shares in the company, valued at $34,144,751.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Mark R. Scadina sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $1,714.18, for a total transaction of $5,999,630.00. Following the sale, the executive vice president now directly owns 19,919 shares in the company, valued at $34,144,751.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas A. Bowers sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1,715.27, for a total transaction of $5,145,810.00. Following the sale, the executive vice president now directly owns 5,769 shares in the company, valued at approximately $9,895,392.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,261 shares of company stock worth $26,291,370. Corporate insiders own 3.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FICO. EntryPoint Capital LLC bought a new position in shares of Fair Isaac during the first quarter valued at about $25,000. Advisors Asset Management Inc. purchased a new stake in Fair Isaac during the 1st quarter valued at $26,000. Tortoise Investment Management LLC grew its holdings in Fair Isaac by 81.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock worth $30,000 after acquiring an additional 9 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Fair Isaac in the first quarter valued at about $31,000. Finally, Family Firm Inc. bought a new position in shares of Fair Isaac during the second quarter valued at about $34,000. 85.75% of the stock is owned by hedge funds and other institutional investors.

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.