Fair Isaac’s (FICO) “Sector Perform” Rating Reiterated at Royal Bank of Canada

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

Other analysts have also recently issued reports about the company. Wells Fargo & Company upped their target price on Fair Isaac from $2,200.00 to $2,400.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group raised their price objective 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. Needham & Company LLC boosted their target price on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer raised their price target on shares of Fair Isaac from $1,967.00 to $2,109.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Barclays upped their price objective on Fair Isaac from $2,150.00 to $2,350.00 and gave the company an “overweight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Fair Isaac has a consensus rating of “Moderate Buy” and a consensus price target of $1,964.92.

Fair Isaac Stock Performance

Shares of FICO stock traded up $156.19 during trading hours on Thursday, reaching $2,332.29. The company had a trading volume of 275,985 shares, compared to its average volume of 154,391. Fair Isaac has a 12-month low of $900.01 and a 12-month high of $2,351.98. The company has a market capitalization of $56.79 billion, a price-to-earnings ratio of 114.05, a PEG ratio of 3.87 and a beta of 1.35. The stock has a fifty day moving average of $1,947.74 and a 200-day moving average of $1,644.51.

Fair Isaac announced that its board has initiated a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of Fair Isaac stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Thomas A. Bowers sold 3,000 shares of the 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 sale, the executive vice president now directly owns 5,769 shares in the company, valued at approximately $9,895,392.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Rees sold 3,961 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fair Isaac

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