Fair Isaac (NYSE:FICO) Given New $2,400.00 Price Target at Wells Fargo & Company

Fair Isaac (NYSE:FICO) had its target price boosted by research analysts at Wells Fargo & Company from $2,200.00 to $2,400.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.17% from the company’s previous close.

FICO has been the subject of a number of other research reports. Robert W. Baird increased their target price on Fair Isaac from $1,264.00 to $1,700.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays increased their price objective on Fair Isaac from $1,800.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Needham & Company LLC lifted their target price on Fair Isaac from $1,500.00 to $1,850.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer increased their price target on shares of Fair Isaac from $1,967.00 to $2,109.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, UBS Group started 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 objective on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,820.42.

Fair Isaac Stock Performance

FICO traded down $6.71 during trading on Thursday, reaching $2,083.92. The company had a trading volume of 31,319 shares, compared to its average volume of 169,336. The firm’s 50-day simple moving average is $1,926.47 and its 200 day simple moving average is $1,629.35. The company has a market cap of $51.10 billion, a price-to-earnings ratio of 109.31, a PEG ratio of 3.68 and a beta of 1.35. Fair Isaac has a 12-month low of $900.01 and a 12-month high of $2,173.84.

Fair Isaac (NYSE:FICO) last released its earnings results on Wednesday, November 6th. The technology company reported $5.34 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.10). The firm had revenue of $453.81 million during the quarter, compared to analysts’ expectations of $454.78 million. Fair Isaac had a negative return on equity of 60.67% and a net margin of 28.94%. On average, sell-side analysts expect that Fair Isaac will post 19.33 EPS for the current year.

Fair Isaac declared that its Board of Directors has approved 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 an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Thomas A. Bowers sold 3,000 shares of Fair Isaac stock in a transaction that occurred 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 of the company’s stock, valued at $9,895,392.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joanna Rees sold 3,961 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $1,750.00, for a total transaction of $6,931,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,761 shares of company stock worth $15,200,560. 3.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fair Isaac

Hedge funds have recently bought and sold shares of the company. Norden Group LLC acquired a new position in shares of Fair Isaac during the 1st quarter worth about $472,000. Quent Capital LLC grew its stake in shares of Fair Isaac by 11.4% in the first quarter. Quent Capital LLC now owns 234 shares of the technology company’s stock worth $292,000 after acquiring an additional 24 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Fair Isaac by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 5,139 shares of the technology company’s stock worth $6,422,000 after acquiring an additional 34 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Fair Isaac by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,666 shares of the technology company’s stock worth $4,581,000 after acquiring an additional 52 shares during the period. Finally, Empowered Funds LLC raised its stake in Fair Isaac by 14.3% during the 1st quarter. Empowered Funds LLC now owns 5,814 shares of the technology company’s stock valued at $7,265,000 after purchasing an additional 726 shares during the last quarter. 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.