The Goldman Sachs Group Forecasts Strong Price Appreciation for Fair Isaac (NYSE:FICO) Stock

Fair Isaac (NYSE:FICO) had its price objective increased by The Goldman Sachs Group from $2,130.00 to $2,374.00 in a research note published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on FICO. Needham & Company LLC increased their target price on Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price target on shares of Fair Isaac from $2,150.00 to $2,350.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird lifted their price objective on shares of Fair Isaac from $1,264.00 to $1,700.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their target price 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, Royal Bank of Canada raised their target price on shares of Fair Isaac from $1,350.00 to $1,500.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Fair Isaac currently has a consensus rating of “Moderate Buy” and an average target price of $1,964.92.

Fair Isaac Price Performance

Shares of FICO traded up $156.19 during mid-day trading on Thursday, reaching $2,332.29. 275,985 shares of the company’s stock traded hands, compared to its average volume of 154,391. The stock’s 50-day moving average is $1,947.74 and its two-hundred day moving average is $1,644.51. Fair Isaac has a 12 month low of $900.01 and a 12 month high of $2,351.98. The stock has a market cap of $56.79 billion, a P/E ratio of 114.05, a P/E/G ratio of 3.87 and a beta of 1.35.

Fair Isaac announced that its board has authorized a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Fair Isaac

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Heritage Family Offices LLP boosted its holdings in Fair Isaac by 2.0% in the third quarter. Heritage Family Offices LLP now owns 256 shares of the technology company’s stock worth $498,000 after acquiring an additional 5 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Fair Isaac by 5.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 111 shares of the technology company’s stock valued at $216,000 after purchasing an additional 6 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in Fair Isaac by 4.0% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 155 shares of the technology company’s stock worth $301,000 after purchasing an additional 6 shares in the last quarter. Covestor Ltd grew its position in Fair Isaac by 30.0% during the 3rd quarter. Covestor Ltd now owns 26 shares of the technology company’s stock worth $52,000 after purchasing an additional 6 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Fair Isaac by 37.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 22 shares of the technology company’s stock valued at $43,000 after purchasing an additional 6 shares in the last quarter. 85.75% of the stock is owned by institutional investors and hedge funds.

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.