Mechanics Bank Trust Department Makes New $206,000 Investment in Fair Isaac Co. (NYSE:FICO)

Mechanics Bank Trust Department purchased a new stake in shares of Fair Isaac Co. (NYSE:FICO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 106 shares of the technology company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FICO. EntryPoint Capital LLC purchased a new position in Fair Isaac in the 1st quarter valued at approximately $25,000. Tortoise Investment Management LLC increased its position in shares of Fair Isaac by 81.8% in the second quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock valued at $30,000 after buying an additional 9 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Fair Isaac during the 1st quarter worth $26,000. Family Firm Inc. purchased a new stake in shares of Fair Isaac in the 2nd quarter worth about $34,000. Finally, OFI Invest Asset Management acquired a new stake in Fair Isaac in the 1st quarter valued at about $31,000. 85.75% of the stock is currently owned by institutional investors and hedge funds.

Fair Isaac Stock Up 2.3 %

NYSE:FICO opened at $2,031.00 on Monday. Fair Isaac Co. has a fifty-two week low of $811.99 and a fifty-two week high of $2,043.59. The firm’s 50 day moving average is $1,821.36 and its two-hundred day moving average is $1,529.22. The company has a market cap of $50.19 billion, a P/E ratio of 106.61, a P/E/G ratio of 3.78 and a beta of 1.35.

Fair Isaac (NYSE:FICO) last issued its earnings results on Wednesday, July 31st. The technology company reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.34). Fair Isaac had a negative return on equity of 60.67% and a net margin of 28.94%. The firm had revenue of $447.85 million during the quarter, compared to analysts’ expectations of $448.53 million. Research analysts forecast that Fair Isaac Co. will post 19.33 earnings per share for the current fiscal year.

Fair Isaac declared that its board has authorized a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Mark R. Scadina sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $1,714.18, for a total transaction of $5,999,630.00. Following the completion of the sale, the executive vice president now owns 19,919 shares of the company’s stock, valued at approximately $34,144,751.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fair Isaac news, CFO Steven P. Weber sold 1,800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $1,735.00, for a total transaction of $3,123,000.00. Following the transaction, the chief financial officer now owns 575 shares in the company, valued at $997,625. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $5,999,630.00. Following the completion of the sale, the executive vice president now directly owns 19,919 shares of the company’s stock, valued at $34,144,751.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,261 shares of company stock valued at $26,291,370 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

FICO has been the topic of several recent research reports. Wolfe Research assumed coverage on shares of Fair Isaac in a report on Tuesday, July 9th. They issued an “outperform” rating and a $1,725.00 price target on the stock. Barclays increased their price objective on Fair Isaac from $1,800.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. UBS Group initiated coverage on shares of Fair Isaac in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $2,100.00 target price for the company. Robert W. Baird raised their price target on shares of Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Fair Isaac from $1,350.00 to $1,500.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Fair Isaac currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,787.08.

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.