Royal Bank of Canada Reaffirms Sector Perform Rating for Fair Isaac (NYSE:FICO)

Royal Bank of Canada reissued their sector perform rating on shares of Fair Isaac (NYSE:FICO) in a report issued on Thursday,Benzinga reports. Royal Bank of Canada currently has a $2,040.00 target price on the technology company’s stock.

FICO has been the topic of several other reports. Robert W. Baird boosted their price target on Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Fair Isaac from $2,130.00 to $2,374.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer upped their target price on shares of Fair Isaac from $1,967.00 to $2,109.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of Fair Isaac from $2,200.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays upped their price objective on shares of Fair Isaac from $2,150.00 to $2,350.00 and gave the company an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,964.92.

Fair Isaac Stock Up 7.1 %

Shares of Fair Isaac stock traded up $153.95 during trading hours on Thursday, hitting $2,330.05. The company’s stock had a trading volume of 275,910 shares, compared to its average volume of 171,269. The business has a fifty day moving average of $1,935.74 and a 200 day moving average of $1,633.15. Fair Isaac has a 1-year low of $900.01 and a 1-year high of $2,351.98. The company has a market capitalization of $57.13 billion, a PE ratio of 114.44, a P/E/G ratio of 3.68 and a beta of 1.35.

Fair Isaac (NYSE:FICO) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $5.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.10). The company had revenue of $453.81 million during the quarter, compared to analyst estimates of $454.78 million. Fair Isaac had a net margin of 28.94% and a negative return on equity of 60.67%. On average, sell-side analysts anticipate that Fair Isaac will post 19.33 earnings per share for the current fiscal year.

Fair Isaac announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Fair Isaac

In related news, EVP Thomas A. Bowers sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1,715.27, for a total transaction of $5,145,810.00. Following the sale, the executive vice president now directly owns 5,769 shares of the company’s stock, valued at approximately $9,895,392.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of Fair Isaac stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $1,750.00, for a total value of $6,931,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas A. Bowers sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $1,715.27, for a total value of $5,145,810.00. Following the transaction, the executive vice president now directly owns 5,769 shares of the company’s stock, valued at $9,895,392.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Fair Isaac by 35.1% in the third quarter. Jennison Associates LLC now owns 241,149 shares of the technology company’s stock worth $468,677,000 after buying an additional 62,653 shares during the period. Strategy Asset Managers LLC bought a new position in shares of Fair Isaac during the third quarter worth about $1,324,000. West Family Investments Inc. increased its holdings in shares of Fair Isaac by 6.4% in the 3rd quarter. West Family Investments Inc. now owns 314 shares of the technology company’s stock worth $610,000 after acquiring an additional 19 shares during the period. PNC Financial Services Group Inc. lifted its position in Fair Isaac by 15.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,901 shares of the technology company’s stock valued at $5,638,000 after purchasing an additional 381 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Fair Isaac during the 3rd quarter valued at about $2,981,000. 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.