Fair Isaac (NYSE:FICO) Reaches New 52-Week High – Still a Buy?

Fair Isaac Co. (NYSE:FICO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2,373.65 and last traded at $2,372.41, with a volume of 18335 shares traded. The stock had previously closed at $2,348.10.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Fair Isaac from $1,850.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of Fair Isaac from $2,130.00 to $2,374.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $2,040.00 price target on shares of Fair Isaac in a research report on Thursday, November 7th. UBS Group assumed coverage on shares of Fair Isaac in a research report on Tuesday, October 1st. They issued a “neutral” rating and a $2,100.00 price target for the company. Finally, Oppenheimer boosted their price target on shares of Fair Isaac from $1,967.00 to $2,109.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,964.92.

Fair Isaac Stock Down 1.0 %

The stock has a market cap of $56.62 billion, a PE ratio of 113.71, a P/E/G ratio of 4.35 and a beta of 1.35. The business’s fifty day moving average is $1,996.69 and its 200 day moving average is $1,673.91.

Fair Isaac announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Fair Isaac

In other Fair Isaac news, Director Henry Tayloe Stansbury sold 249 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $2,338.55, for a total value of $582,298.95. Following the sale, the director now owns 92 shares of the company’s stock, valued at $215,146.60. This represents a 73.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Rees sold 3,961 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $1,750.00, for a total transaction of $6,931,750.00. The disclosure for this sale can be found here. Insiders have sold 6,890 shares of company stock valued at $13,780,452 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Fair Isaac

Several institutional investors and hedge funds have recently modified their holdings of FICO. Quent Capital LLC increased its position in Fair Isaac by 11.4% during the first quarter. Quent Capital LLC now owns 234 shares of the technology company’s stock worth $292,000 after purchasing an additional 24 shares during the last quarter. US Bancorp DE increased its position in Fair Isaac by 2.0% during the first quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock worth $5,050,000 after purchasing an additional 80 shares during the last quarter. Entropy Technologies LP acquired a new position in Fair Isaac during the first quarter worth approximately $547,000. Banco Santander S.A. increased its position in Fair Isaac by 12.3% during the first quarter. Banco Santander S.A. now owns 346 shares of the technology company’s stock worth $432,000 after purchasing an additional 38 shares during the last quarter. Finally, Councilmark Asset Management LLC acquired a new position in Fair Isaac during the first quarter worth approximately $569,000. Hedge funds and other institutional investors 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.