Hartford Investment Management Co. Decreases Position in Fair Isaac Corporation (NYSE:FICO)

Hartford Investment Management Co. cut its stake in Fair Isaac Corporation (NYSE:FICO) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,494 shares of the technology company’s stock after selling 15 shares during the quarter. Hartford Investment Management Co.’s holdings in Fair Isaac were worth $2,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Holdings LLC purchased a new position in Fair Isaac in the 4th quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in Fair Isaac in the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. lifted its stake in Fair Isaac by 41.7% in the 1st quarter. Meeder Asset Management Inc. now owns 17 shares of the technology company’s stock worth $31,000 after purchasing an additional 5 shares in the last quarter. Colonial Trust Co SC lifted its stake in Fair Isaac by 71.4% in the 4th quarter. Colonial Trust Co SC now owns 24 shares of the technology company’s stock worth $48,000 after purchasing an additional 10 shares in the last quarter. Finally, Mechanics Financial Corp purchased a new position in Fair Isaac in the 1st quarter worth approximately $46,000. 85.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fair Isaac

In related news, CFO Steven P. Weber sold 1,000 shares of Fair Isaac stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,738.25, for a total value of $1,738,250.00. Following the completion of the sale, the chief financial officer owned 1,862 shares in the company, valued at approximately $3,236,621.50. This trade represents a 34.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Lansing sold 3,811 shares of Fair Isaac stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $1,565.99, for a total transaction of $5,967,987.89. Following the completion of the sale, the chief executive officer owned 44,338 shares of the company’s stock, valued at $69,432,864.62. This trade represents a 7.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,829 shares of company stock worth $36,836,320. Insiders own 3.46% of the company’s stock.

Fair Isaac Stock Performance

FICO stock opened at $1,383.47 on Friday. The firm has a market cap of $33.67 billion, a PE ratio of 54.11, a PEG ratio of 2.32 and a beta of 1.28. The firm’s 50 day moving average price is $1,687.81 and its 200-day moving average price is $1,812.84. Fair Isaac Corporation has a one year low of $1,350.00 and a one year high of $2,402.51.

Fair Isaac (NYSE:FICO) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $8.57 EPS for the quarter, beating the consensus estimate of $7.75 by $0.82. Fair Isaac had a net margin of 32.80% and a negative return on equity of 48.88%. The firm had revenue of $536.42 million for the quarter, compared to analyst estimates of $520.40 million. During the same quarter in the previous year, the company earned $6.25 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts predict that Fair Isaac Corporation will post 24.15 EPS for the current fiscal year.

Fair Isaac announced that its board has authorized a stock buyback plan on Thursday, June 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FICO shares. Jefferies Financial Group reissued a “buy” rating on shares of Fair Isaac in a research note on Thursday, July 17th. Wells Fargo & Company decreased their target price on shares of Fair Isaac from $2,600.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 9th. Barclays decreased their target price on shares of Fair Isaac from $2,250.00 to $2,000.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 9th. Raymond James Financial decreased their target price on shares of Fair Isaac from $2,230.00 to $1,800.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Griffin Securities set a $2,000.00 target price on shares of Fair Isaac in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2,163.14.

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.