Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Fair Isaac Co. (NYSE:FICO) by 4,496.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 116,201 shares of the technology company’s stock after buying an additional 113,673 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.40% of Fair Isaac worth $48,577,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FICO. Melvin Capital Management LP increased its stake in Fair Isaac by 67.8% in the first quarter. Melvin Capital Management LP now owns 965,000 shares of the technology company’s stock worth $296,921,000 after purchasing an additional 390,000 shares during the period. Norges Bank purchased a new stake in Fair Isaac in the fourth quarter worth $104,432,000. WCM Investment Management LLC purchased a new stake in Fair Isaac in the first quarter worth $65,778,000. Eagle Asset Management Inc. purchased a new stake in Fair Isaac in the first quarter worth $45,321,000. Finally, Ardevora Asset Management LLP purchased a new stake in Fair Isaac in the first quarter worth $43,311,000. Institutional investors own 85.71% of the company’s stock.
In other Fair Isaac news, EVP Wayne Elliot Huyard sold 5,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $388.24, for a total value of $1,941,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Rey sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $421.43, for a total value of $4,214,300.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $4,214,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,709 shares of company stock valued at $10,623,075. 3.81% of the stock is currently owned by company insiders.
A number of research firms have weighed in on FICO. Zacks Investment Research lowered Fair Isaac from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Jefferies Financial Group increased their price target on Fair Isaac from $362.00 to $393.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Robert W. Baird increased their price target on Fair Isaac from $460.00 to $486.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays increased their price target on Fair Isaac from $340.00 to $475.00 in a research report on Wednesday, June 10th. Finally, Needham & Company LLC increased their price target on Fair Isaac from $425.00 to $515.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $440.00.
Shares of FICO stock opened at $439.19 on Friday. Fair Isaac Co. has a 1-year low of $177.65 and a 1-year high of $442.65. The stock’s 50-day moving average is $416.33 and its 200 day moving average is $373.39. The company has a market cap of $12.74 billion, a P/E ratio of 58.25 and a beta of 1.20. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.05 and a quick ratio of 1.01.
Fair Isaac (NYSE:FICO) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.42. Fair Isaac had a return on equity of 91.50% and a net margin of 18.92%. The company had revenue of $313.73 million for the quarter, compared to the consensus estimate of $301.30 million. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts anticipate that Fair Isaac Co. will post 4.93 EPS for the current year.
About Fair Isaac
Fair Isaac Corporation develops analytic, software, and data management products and services that enable businesses to automate, enhance, and connect decisions. The company offers analytical solutions, credit scoring, and credit account management products and services to banks, credit reporting agencies, credit card processing agencies, insurers, retailers, healthcare organizations, and public agencies.
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