Legacy Capital Group California Inc. Reduces Stock Position in Fair Isaac Co. (NYSE:FICO)

Legacy Capital Group California Inc. cut its stake in Fair Isaac Co. (NYSE:FICO) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255 shares of the technology company’s stock after selling 11 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Fair Isaac were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in Fair Isaac by 189,461.6% in the third quarter. International Assets Investment Management LLC now owns 538,355 shares of the technology company’s stock worth $1,046,304,000 after purchasing an additional 538,071 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Fair Isaac by 25.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock worth $1,076,268,000 after purchasing an additional 174,397 shares during the period. Westwind Capital lifted its position in Fair Isaac by 891.8% during the second quarter. Westwind Capital now owns 69,742 shares of the technology company’s stock valued at $10,382,000 after purchasing an additional 62,710 shares in the last quarter. Spear Holdings RSC Ltd purchased a new stake in Fair Isaac in the first quarter worth about $69,478,000. Finally, Sei Investments Co. raised its stake in shares of Fair Isaac by 231.8% in the second quarter. Sei Investments Co. now owns 69,127 shares of the technology company’s stock worth $102,908,000 after buying an additional 48,294 shares during the period. 85.75% of the stock is owned by hedge funds and other institutional investors.

Fair Isaac Price Performance

NYSE FICO opened at $1,999.97 on Friday. Fair Isaac Co. has a 1-year low of $811.99 and a 1-year high of $2,103.70. The business has a 50 day simple moving average of $1,882.25 and a two-hundred day simple moving average of $1,579.30. The stock has a market capitalization of $49.42 billion, a PE ratio of 104.99, a P/E/G ratio of 3.78 and a beta of 1.35.

Fair Isaac (NYSE:FICO) last posted its earnings results on Wednesday, July 31st. The technology company reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.34). Fair Isaac had a net margin of 28.94% and a negative return on equity of 60.67%. The business had revenue of $447.85 million during the quarter, compared to analysts’ expectations of $448.53 million. On average, analysts anticipate that Fair Isaac Co. will post 19.33 EPS for the current fiscal year.

Fair Isaac announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FICO has been the topic of a number of recent analyst reports. Wolfe Research began coverage on shares of Fair Isaac in a research note on Tuesday, July 9th. They set an “outperform” rating and a $1,725.00 target price on the stock. Oppenheimer lifted 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. UBS Group assumed coverage on Fair Isaac in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $2,100.00 price target for the company. Robert W. Baird boosted their price objective on Fair Isaac from $1,264.00 to $1,700.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price objective on Fair Isaac from $2,100.00 to $2,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Fair Isaac currently has a consensus rating of “Moderate Buy” and an average price target of $1,787.08.

Insider Activity at Fair Isaac

In other Fair Isaac news, Director James Kirsner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,697.06, for a total transaction of $5,091,180.00. Following the sale, the director now directly owns 13,002 shares in the company, valued at $22,065,174.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Joanna Rees sold 3,961 shares of the firm’s 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 transaction of $6,931,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Kirsner sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,697.06, for a total value of $5,091,180.00. Following the transaction, the director now owns 13,002 shares of the company’s stock, valued at approximately $22,065,174.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,261 shares of company stock valued at $26,291,370. Insiders own 3.54% 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.