Fair Isaac (NYSE:FICO) Price Target Raised to $2,300.00

Fair Isaac (NYSE:FICO) had its price target raised by Oppenheimer from $2,293.00 to $2,300.00 in a research note published on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently issued reports on FICO. Baird R W raised Fair Isaac from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Bank of America started coverage on Fair Isaac in a report on Thursday, April 10th. They set a “buy” rating and a $2,800.00 price objective for the company. Robert W. Baird raised Fair Isaac from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $2,021.00 to $1,900.00 in a report on Wednesday, May 28th. Raymond James Financial reissued an “outperform” rating on shares of Fair Isaac in a report on Wednesday, May 21st. Finally, Barclays dropped their price objective on Fair Isaac from $2,350.00 to $2,250.00 and set an “overweight” rating for the company in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,283.54.

Fair Isaac Stock Down 0.3%

Fair Isaac stock opened at $1,586.55 on Tuesday. The stock has a 50-day simple moving average of $1,855.28 and a 200 day simple moving average of $1,865.49. Fair Isaac has a 12-month low of $1,484.29 and a 12-month high of $2,402.52. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 68.33, a P/E/G ratio of 2.55 and a beta of 1.28.

Fair Isaac (NYSE:FICO) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.33 by $0.48. Fair Isaac had a negative return on equity of 51.41% and a net margin of 31.36%. The business had revenue of $498.74 million during the quarter, compared to analysts’ expectations of $500.45 million. During the same period in the previous year, the business posted $6.14 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fair Isaac will post 24.15 EPS for the current year.

Fair Isaac declared that its board has authorized a share repurchase program on Thursday, June 19th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Fair Isaac

In other Fair Isaac news, CEO William J. Lansing sold 6,010 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $1,767.82, for a total transaction of $10,624,598.20. Following the completion of the transaction, the chief executive officer owned 42,138 shares of the company’s stock, valued at $74,492,399.16. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas A. Bowers sold 4,077 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $2,057.05, for a total value of $8,386,592.85. Following the transaction, the executive vice president directly owned 9,974 shares of the company’s stock, valued at approximately $20,517,016.70. This trade represents a 29.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,906 shares of company stock worth $45,222,913. Insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On Fair Isaac

A number of large investors have recently bought and sold shares of the company. Nebula Research & Development LLC bought a new stake in shares of Fair Isaac during the 4th quarter worth approximately $2,540,000. CWA Asset Management Group LLC raised its stake in shares of Fair Isaac by 15.1% during 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 shares of Fair Isaac by 4.5% during 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 shares of Fair Isaac by 168.7% during 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 shares of Fair Isaac by 55.6% during 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.

Fair Isaac Company Profile

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.