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

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

A number of other research analysts also recently issued reports on the company. Robert W. Baird raised their price target on Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. 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 report on Tuesday, October 8th. UBS Group assumed coverage on shares of Fair Isaac in a research report on Tuesday, October 1st. They issued a “neutral” rating and a $2,100.00 price target for the company. Needham & Company LLC raised their price objective on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on shares of Fair Isaac from $2,130.00 to $2,374.00 and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,964.92.

Fair Isaac Stock Performance

Shares of FICO stock traded up $156.19 during mid-day trading on Thursday, hitting $2,332.29. 275,985 shares of the stock were exchanged, compared to its average volume of 154,391. The stock’s fifty day simple moving average is $1,947.74 and its two-hundred day simple 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 capitalization of $56.79 billion, a price-to-earnings ratio of 114.05, a P/E/G ratio of 3.87 and a beta of 1.35.

Fair Isaac declared that its board has initiated a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Fair Isaac

In related news, EVP Thomas A. Bowers sold 3,000 shares of Fair Isaac stock in a transaction that occurred 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 $9,895,392.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $1,750.00, for a total value of $6,931,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. Bowers sold 3,000 shares of the business’s stock in a transaction that occurred 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 $9,895,392.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Fair Isaac

Several hedge funds and other institutional investors have recently bought and sold shares of FICO. Heritage Family Offices LLP increased its position in shares of Fair Isaac by 2.0% in the third quarter. Heritage Family Offices LLP now owns 256 shares of the technology company’s stock valued at $498,000 after buying an additional 5 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in 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 acquiring an additional 6 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in Fair Isaac by 4.0% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 155 shares of the technology company’s stock valued at $301,000 after acquiring an additional 6 shares in the last quarter. Covestor Ltd raised its position in Fair Isaac by 30.0% during the third quarter. Covestor Ltd now owns 26 shares of the technology company’s stock worth $52,000 after acquiring an additional 6 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Fair Isaac by 37.5% in the third 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.

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.