Fair Isaac (NYSE:FICO) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Fair Isaac (NYSE:FICO) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $2,100.00 price target on the technology company’s stock.

FICO has been the subject of a number of other reports. Redburn Atlantic began coverage on Fair Isaac in a research note on Tuesday, April 16th. They set a neutral rating and a $1,113.00 price target for the company. Robert W. Baird boosted their target price on shares of Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Needham & Company LLC increased their price target 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. Barclays boosted their price objective on Fair Isaac from $1,500.00 to $1,800.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price objective on Fair Isaac from $1,350.00 to $1,500.00 and gave the company a sector perform rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $1,515.82.

Fair Isaac Trading Down 4.2 %

Shares of FICO opened at $1,733.55 on Monday. Fair Isaac has a 12-month low of $811.99 and a 12-month high of $1,818.02. The business’s 50 day moving average is $1,545.80 and its 200 day moving average is $1,361.78. The company has a market capitalization of $42.84 billion, a PE ratio of 91.00, a price-to-earnings-growth ratio of 4.26 and a beta of 1.34.

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

Insider Activity

In other Fair Isaac news, EVP Mark R. Scadina sold 423 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $1,372.12, for a total value of $580,406.76. Following the transaction, the executive vice president now directly owns 32,229 shares in the company, valued at approximately $44,222,055.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fair Isaac news, EVP Mark R. Scadina sold 423 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $1,372.12, for a total value of $580,406.76. Following the completion of the sale, the executive vice president now directly owns 32,229 shares in the company, valued at approximately $44,222,055.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. Bowers sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $1,715.27, for a total value of $5,145,810.00. Following the transaction, the executive vice president now owns 5,769 shares in the company, valued at approximately $9,895,392.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,314 shares of company stock valued at $38,618,138. 3.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fair Isaac

A number of hedge funds and other institutional investors have recently modified their holdings of FICO. EntryPoint Capital LLC purchased a new position in Fair Isaac in the first quarter valued at about $25,000. Advisors Asset Management Inc. bought a new position in shares of Fair Isaac during the 1st quarter worth approximately $26,000. Tortoise Investment Management LLC lifted its position in Fair Isaac by 81.8% during the second quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock valued at $30,000 after acquiring an additional 9 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Fair Isaac in the first quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new position in Fair Isaac in the second quarter worth $34,000. 85.75% of the stock is currently owned by institutional investors.

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.