Fifth Third Wealth Advisors LLC Buys New Position in Fair Isaac Co. (NYSE:FICO)

Fifth Third Wealth Advisors LLC bought a new position in shares of Fair Isaac Co. (NYSE:FICO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 250 shares of the technology company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FICO. Vanguard Group Inc. lifted its position in shares of Fair Isaac by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,855,775 shares of the technology company’s stock valued at $3,568,605,000 after acquiring an additional 35,263 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fair Isaac by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock valued at $1,076,268,000 after purchasing an additional 174,397 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Fair Isaac by 30.2% in the 1st quarter. Principal Financial Group Inc. now owns 356,639 shares of the technology company’s stock valued at $445,660,000 after purchasing an additional 82,699 shares during the period. Franklin Resources Inc. increased its stake in Fair Isaac by 25.2% in the 4th quarter. Franklin Resources Inc. now owns 283,565 shares of the technology company’s stock worth $330,072,000 after purchasing an additional 57,010 shares in the last quarter. Finally, Norges Bank acquired a new stake in Fair Isaac during the 4th quarter worth about $259,509,000. 85.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FICO. Royal Bank of Canada upped their price target on Fair Isaac from $1,350.00 to $1,500.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised shares of Fair Isaac to a “strong-buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC boosted their price objective on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays upped their price objective on shares of 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. Finally, Robert W. Baird lifted their target price on shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,515.82.

Insider Buying and Selling

In related news, EVP Mark R. Scadina sold 423 shares of Fair Isaac stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $1,372.12, for a total transaction of $580,406.76. Following the completion of the sale, the executive vice president now directly owns 32,229 shares of the company’s stock, valued at $44,222,055.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Fair Isaac news, CFO Steven P. Weber sold 1,800 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 575 shares in the company, valued at approximately $997,625. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark R. Scadina sold 423 shares of Fair Isaac stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $1,372.12, for a total transaction of $580,406.76. Following the completion of the sale, the executive vice president now owns 32,229 shares of the company’s stock, valued at $44,222,055.48. The disclosure for this sale can be found here. Insiders sold a total of 25,314 shares of company stock worth $38,618,138 over the last three months. 3.54% of the stock is currently owned by company insiders.

Fair Isaac Stock Up 0.1 %

NYSE:FICO traded up $1.60 during mid-day trading on Wednesday, reaching $1,751.60. 94,781 shares of the company were exchanged, compared to its average volume of 179,767. The company has a fifty day moving average of $1,572.15 and a 200 day moving average of $1,374.92. Fair Isaac Co. has a 12 month low of $811.99 and a 12 month high of $1,818.02. The stock has a market cap of $43.28 billion, a PE ratio of 91.95, a PEG ratio of 4.26 and a beta of 1.34.

Fair Isaac announced that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management 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.