King Luther Capital Management Corp Buys New Position in Fair Isaac Corporation (NYSE:FICO)

King Luther Capital Management Corp bought a new stake in shares of Fair Isaac Corporation (NYSE:FICO) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,146 shares of the technology company’s stock, valued at approximately $7,646,000.

Several other hedge funds have also recently added to or reduced their stakes in FICO. N.E.W. Advisory Services LLC bought a new stake in Fair Isaac during the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. boosted its stake in Fair Isaac by 41.7% during the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company’s stock valued at $31,000 after purchasing an additional 5 shares during the period. Mechanics Financial Corp bought a new stake in Fair Isaac during the 1st quarter valued at approximately $46,000. Colonial Trust Co SC raised its holdings in Fair Isaac by 71.4% in the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company’s stock valued at $48,000 after acquiring an additional 10 shares in the last quarter. Finally, Hollencrest Capital Management raised its holdings in Fair Isaac by 766.7% in the 1st quarter. Hollencrest Capital Management now owns 26 shares of the technology company’s stock valued at $48,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 85.75% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Steven P. Weber sold 1,000 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the completion of the sale, the chief financial officer directly owned 1,862 shares of the company’s stock, valued at $3,236,621.50. This trade represents a 34.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William J. Lansing sold 3,811 shares of the firm’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $1,565.99, for a total value of $5,967,987.89. Following the sale, the chief executive officer directly owned 44,338 shares of the company’s stock, valued at $69,432,864.62. This represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,032 shares of company stock valued at $35,172,583 over the last ninety days. Insiders own 3.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FICO shares. Robert W. Baird raised Fair Isaac from a “neutral” rating to an “outperform” rating and cut their price target for the company from $2,021.00 to $1,900.00 in a report on Wednesday, May 28th. Griffin Securities set a $2,000.00 price target on Fair Isaac in a report on Wednesday, July 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Fair Isaac in a report on Thursday, July 17th. Barclays cut their price target on Fair Isaac from $2,250.00 to $2,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 9th. Finally, Wells Fargo & Company cut their price target on Fair Isaac from $2,600.00 to $2,300.00 and set an “overweight” rating for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,163.14.

Fair Isaac Trading Down 1.1%

Shares of FICO opened at $1,319.28 on Monday. Fair Isaac Corporation has a 1 year low of $1,313.69 and a 1 year high of $2,402.51. The stock has a 50 day simple moving average of $1,658.17 and a 200-day simple moving average of $1,791.60. The stock has a market cap of $31.66 billion, a PE ratio of 51.59, a PEG ratio of 2.57 and a beta of 1.28.

Fair Isaac (NYSE:FICO) last issued its earnings results on Wednesday, July 30th. The technology company reported $8.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.75 by $0.82. Fair Isaac had a negative return on equity of 48.88% and a net margin of 32.80%. The business had revenue of $536.42 million during the quarter, compared to analysts’ expectations of $520.40 million. During the same period in the prior year, the firm posted $6.25 EPS. Fair Isaac’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts forecast that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac announced that its board has authorized a share buyback plan on Thursday, June 19th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Fair Isaac 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.