Fair Isaac (NYSE:FICO) Hits New 12-Month High – Here’s What Happened

Fair Isaac Co. (NYSE:FICO) hit a new 52-week high during trading on Wednesday . The company traded as high as $2,373.65 and last traded at $2,372.41, with a volume of 18335 shares changing hands. The stock had previously closed at $2,348.10.

Wall Street Analysts Forecast Growth

FICO has been the topic of several analyst reports. UBS Group initiated coverage on shares of Fair Isaac in a research report on Tuesday, October 1st. They set a “neutral” rating and a $2,100.00 price target on the stock. Needham & Company LLC upped their target price on shares of Fair Isaac from $1,850.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Fair Isaac from $2,200.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on shares of Fair Isaac from $2,150.00 to $2,350.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on Fair Isaac from $1,700.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,964.92.

Fair Isaac Stock Up 1.2 %

The firm has a market cap of $57.88 billion, a price-to-earnings ratio of 116.53, a P/E/G ratio of 4.35 and a beta of 1.35. The stock has a 50 day moving average of $1,973.38 and a 200 day moving average of $1,664.57.

Fair Isaac announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Joanna Rees sold 3,961 shares of Fair Isaac stock in a transaction that occurred on Thursday, September 5th. The shares were 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 SEC, which is available through the SEC website. Corporate insiders own 3.54% of the company’s stock.

Institutional Trading of Fair Isaac

A number of hedge funds and other institutional investors have recently bought and sold shares of FICO. Heritage Family Offices LLP grew its stake 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 worth $498,000 after purchasing an additional 5 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Fair Isaac by 5.7% during the third 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 in the last quarter. Moss Adams Wealth Advisors LLC lifted its stake in Fair Isaac by 4.0% in the third quarter. Moss Adams Wealth Advisors LLC now owns 155 shares of the technology company’s stock worth $301,000 after acquiring an additional 6 shares during the period. Covestor Ltd boosted its holdings in Fair Isaac by 30.0% in the third quarter. Covestor Ltd now owns 26 shares of the technology company’s stock valued at $52,000 after acquiring an additional 6 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Fair Isaac by 37.5% during the 3rd 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 during the period. 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.