Sompo Asset Management Co. Ltd. Lowers Position in Fair Isaac Co. (NYSE:FICO)

Sompo Asset Management Co. Ltd. reduced its position in shares of Fair Isaac Co. (NYSE:FICO) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490 shares of the technology company’s stock after selling 110 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Fair Isaac were worth $952,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB boosted its position in shares of Fair Isaac by 11.5% during the 3rd quarter. Swedbank AB now owns 9,822 shares of the technology company’s stock worth $19,089,000 after purchasing an additional 1,013 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new position in Fair Isaac during the second quarter worth about $529,000. Czech National Bank increased its holdings in Fair Isaac by 7.7% in the second quarter. Czech National Bank now owns 4,709 shares of the technology company’s stock valued at $7,010,000 after buying an additional 337 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Fair Isaac by 181.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 776 shares of the technology company’s stock valued at $1,551,000 after acquiring an additional 500 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Fair Isaac by 7.7% during the 3rd quarter. CIBC Asset Management Inc now owns 3,589 shares of the technology company’s stock worth $6,975,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 85.75% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Thomas A. Bowers sold 2,680 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Tayloe Stansbury sold 249 shares of Fair Isaac stock in a transaction on Monday, November 11th. The shares were sold at an average price of $2,338.55, for a total transaction of $582,298.95. Following the completion of the transaction, the director now owns 92 shares in the company, valued at approximately $215,146.60. This trade represents a 73.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,890 shares of company stock valued at $13,780,452. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FICO shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $2,040.00 price objective on shares of Fair Isaac in a research note on Thursday, November 7th. Robert W. Baird raised their price target 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 boosted 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, November 7th. Needham & Company LLC raised their target price on shares of Fair Isaac from $1,850.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on shares of Fair Isaac from $2,200.00 to $2,400.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,964.92.

Fair Isaac Stock Up 0.7 %

Shares of NYSE:FICO opened at $2,355.35 on Friday. The company has a market cap of $57.35 billion, a P/E ratio of 115.18, a P/E/G ratio of 4.30 and a beta of 1.35. The business has a fifty day simple moving average of $2,055.62 and a 200-day simple moving average of $1,724.47. Fair Isaac Co. has a 52 week low of $1,061.96 and a 52 week high of $2,402.51.

Fair Isaac declared that its Board of Directors has authorized a share 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 typically a sign that the company’s management believes its shares are undervalued.

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.