Fair Isaac (NYSE:FICO) Reaches New 52-Week High After Analyst Upgrade

Fair Isaac Co. (NYSE:FICO)’s stock price reached a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $1,879.00 to $2,130.00. The Goldman Sachs Group currently has a buy rating on the stock. Fair Isaac traded as high as $1,962.96 and last traded at $1,920.93, with a volume of 12076 shares changing hands. The stock had previously closed at $1,943.52.

FICO has been the subject of several other research reports. Wolfe Research initiated coverage on shares of Fair Isaac in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $1,725.00 price target for the company. Needham & Company LLC upped their price target on Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on Fair Isaac from $1,264.00 to $1,700.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group assumed coverage on shares of Fair Isaac in a research note on Tuesday. They set a “neutral” rating and a $2,100.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Fair Isaac in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $1,967.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,775.25.

Insider Buying and Selling

In other Fair Isaac news, CFO Steven P. Weber sold 1,800 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $1,735.00, for a total transaction of $3,123,000.00. Following the completion of the transaction, the chief financial officer now directly owns 575 shares in the company, valued at approximately $997,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James Kirsner sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,697.06, for a total value of $5,091,180.00. Following the completion of the sale, the director now owns 13,002 shares of the company’s stock, valued at $22,065,174.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven P. Weber sold 1,800 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $1,735.00, for a total transaction of $3,123,000.00. Following the sale, the chief financial officer now directly owns 575 shares of the company’s stock, valued at $997,625. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,261 shares of company stock valued at $26,291,370. 3.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Fair Isaac

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

Fair Isaac Stock Up 1.2 %

The company has a market capitalization of $47.89 billion, a price-to-earnings ratio of 101.74, a price-to-earnings-growth ratio of 4.69 and a beta of 1.34. The business 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 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). The firm had revenue of $447.85 million during the quarter, compared to analyst estimates 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, sell-side analysts predict that Fair Isaac Co. will post 19.19 EPS for the current year.

Fair Isaac announced that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.