Pitcairn Co. Reduces Stake in Fair Isaac Co. (NYSE:FICO)

Pitcairn Co. lowered its holdings in Fair Isaac Co. (NYSE:FICO) by 19.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,475 shares of the technology company’s stock after selling 605 shares during the quarter. Pitcairn Co.’s holdings in Fair Isaac were worth $4,810,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FICO. EntryPoint Capital LLC acquired a new stake in shares of Fair Isaac in the 1st quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Fair Isaac in the 3rd quarter valued at about $25,000. Advisors Asset Management Inc. acquired a new stake in shares of Fair Isaac in the 1st quarter valued at about $26,000. Tortoise Investment Management LLC boosted its position in shares of Fair Isaac by 81.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock valued at $30,000 after purchasing an additional 9 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of Fair Isaac in the 2nd quarter valued at about $34,000. 85.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fair Isaac

In other Fair Isaac news, EVP Thomas A. Bowers sold 2,680 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $2,338.21, for a total transaction of $6,266,402.80. Following the completion of the transaction, the executive vice president now owns 5,769 shares of the company’s stock, valued at approximately $13,489,133.49. This trade represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry Tayloe Stansbury sold 249 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $2,338.55, for a total value of $582,298.95. Following the transaction, the director now directly owns 92 shares of the company’s stock, valued at $215,146.60. The trade was a 73.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,890 shares of company stock valued at $13,780,452 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Fair Isaac Price Performance

NYSE FICO opened at $2,356.34 on Friday. Fair Isaac Co. has a 1-year low of $1,061.96 and a 1-year high of $2,402.51. The company has a market capitalization of $57.38 billion, a P/E ratio of 115.22, a PEG ratio of 4.30 and a beta of 1.35. The business has a 50 day moving average price of $2,055.62 and a 200 day moving average price of $1,721.12.

Fair Isaac declared that its board has authorized a stock 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on FICO shares. Robert W. Baird upped their target price on Fair Isaac from $1,700.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on Fair Isaac from $2,130.00 to $2,374.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price objective on Fair Isaac from $1,850.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on Fair Isaac from $2,200.00 to $2,400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price objective on Fair Isaac from $1,967.00 to $2,109.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Fair Isaac currently has a consensus rating of “Moderate Buy” and an average price target of $1,964.92.

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.