Wells Fargo & Company Begins Coverage on Fair Isaac (NYSE:FICO)

Stock analysts at Wells Fargo & Company assumed coverage on shares of Fair Isaac (NYSE:FICO) in a report issued on Monday, Benzinga reports. The brokerage set an “overweight” rating and a $2,100.00 price target on the technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.18% from the company’s previous close.

Several other equities research analysts have also issued reports on FICO. Barclays raised their price objective on Fair Isaac from $1,500.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Wolfe Research started coverage on shares of Fair Isaac in a research note on Tuesday, July 9th. They set an “outperform” rating and a $1,725.00 price objective for the company. Redburn Atlantic initiated coverage on shares of Fair Isaac in a research note on Tuesday, April 16th. They issued a “neutral” rating and a $1,113.00 target price on the stock. Raymond James lifted their price target on shares of Fair Isaac from $1,413.00 to $1,418.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Needham & Company LLC increased their price objective on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,515.82.

Fair Isaac Price Performance

Shares of Fair Isaac stock traded down $33.43 during trading hours on Monday, reaching $1,718.82. The company’s stock had a trading volume of 143,952 shares, compared to its average volume of 180,816. The firm has a 50 day moving average price of $1,510.59 and a 200-day moving average price of $1,348.88. The stock has a market cap of $42.47 billion, a P/E ratio of 90.23, a P/E/G ratio of 4.26 and a beta of 1.34. Fair Isaac has a one year low of $811.99 and a one year high of $1,759.76.

Fair Isaac declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Mark R. Scadina sold 423 shares of Fair Isaac stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $1,372.12, for a total value of $580,406.76. Following the completion of the sale, the executive vice president now directly owns 32,229 shares in the company, valued at $44,222,055.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fair Isaac news, Director Joanna Rees sold 500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $1,350.00, for a total transaction of $675,000.00. Following the completion of the sale, the director now owns 20,618 shares in the company, valued at $27,834,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark R. Scadina sold 423 shares of Fair Isaac stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $1,372.12, for a total value of $580,406.76. Following the completion of the transaction, the executive vice president now owns 32,229 shares in the company, valued at $44,222,055.48. The disclosure for this sale can be found here. Insiders have sold 21,514 shares of company stock worth $31,724,328 in the last ninety days. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fair Isaac

Institutional investors have recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. purchased a new position in shares of Fair Isaac in the 4th quarter worth approximately $249,000. Commerce Bank grew its holdings in Fair Isaac by 704.8% in the first quarter. Commerce Bank now owns 6,084 shares of the technology company’s stock worth $7,603,000 after purchasing an additional 5,328 shares during the last quarter. Seven Eight Capital LP increased its position in shares of Fair Isaac by 140.0% during the fourth quarter. Seven Eight Capital LP now owns 1,440 shares of the technology company’s stock worth $1,676,000 after purchasing an additional 840 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Fair Isaac by 44.5% during the 1st quarter. BNP Paribas Financial Markets now owns 29,516 shares of the technology company’s stock valued at $36,883,000 after purchasing an additional 9,094 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Fair Isaac by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,855,775 shares of the technology company’s stock worth $3,568,605,000 after purchasing an additional 35,263 shares in the last quarter. 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.