The Manufacturers Life Insurance Company Trims Stake in Fair Isaac Co. (NYSE:FICO)

The Manufacturers Life Insurance Company cut its position in shares of Fair Isaac Co. (NYSE:FICO) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,452 shares of the technology company’s stock after selling 593 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Fair Isaac worth $23,003,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Fair Isaac by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,855,775 shares of the technology company’s stock worth $3,568,605,000 after purchasing an additional 35,263 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Fair Isaac by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock worth $1,076,268,000 after acquiring an additional 174,397 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Fair Isaac by 3.9% during the 2nd quarter. Principal Financial Group Inc. now owns 370,605 shares of the technology company’s stock valued at $551,706,000 after acquiring an additional 13,966 shares during the period. American Century Companies Inc. grew its position in Fair Isaac by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 345,628 shares of the technology company’s stock valued at $514,523,000 after acquiring an additional 21,768 shares during the last quarter. Finally, Capital International Investors increased its stake in Fair Isaac by 4.5% in the first quarter. Capital International Investors now owns 181,406 shares of the technology company’s stock worth $226,687,000 after purchasing an additional 7,884 shares during the period. 85.75% of the stock is currently owned by institutional investors.

Fair Isaac Price Performance

Shares of NYSE FICO opened at $1,912.65 on Wednesday. Fair Isaac Co. has a 1-year low of $811.99 and a 1-year high of $1,962.96. The business has a fifty day moving average price of $1,759.99 and a 200 day moving average price of $1,489.11. The stock has a market capitalization of $47.26 billion, a P/E ratio of 100.40, a price-to-earnings-growth ratio of 4.69 and a beta of 1.34.

Fair Isaac (NYSE:FICO) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.34). The firm had revenue of $447.85 million during the quarter, compared to the consensus estimate of $448.53 million. Fair Isaac had a net margin of 28.94% and a negative return on equity of 60.67%. As a group, equities research analysts anticipate that Fair Isaac Co. will post 19.19 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

FICO has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on shares of Fair Isaac in a research note on Tuesday, July 9th. They set an “outperform” rating and a $1,725.00 target price for the company. Barclays boosted their price objective on shares of Fair Isaac from $1,800.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Royal Bank of Canada upped their target price on shares of Fair Isaac from $1,350.00 to $1,500.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. UBS Group assumed coverage on shares of Fair Isaac in a research note on Tuesday. They set a “neutral” rating and a $2,100.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on Fair Isaac from $2,100.00 to $2,200.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Fair Isaac currently has an average rating of “Moderate Buy” and an average price target of $1,705.17.

Insiders Place Their Bets

In other news, Director Joanna Rees sold 3,961 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $1,750.00, for a total value of $6,931,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fair Isaac news, Director James Kirsner sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,697.06, for a total value of $5,091,180.00. Following the completion of the transaction, the director now owns 13,002 shares of the company’s stock, valued at $22,065,174.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joanna Rees sold 3,961 shares of the business’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 15,261 shares of company stock valued at $26,291,370. 3.54% of the stock is currently owned by insiders.

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.