Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Fair Isaac Corporation (NYSE:FICO)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Fair Isaac Corporation (NYSE:FICO – Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,908 shares of the technology company’s stock after purchasing an additional 39 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Fair Isaac were worth $5,363,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. grew its position in Fair Isaac by 160.0% during the fourth quarter. Rakuten Securities Inc. now owns 13 shares of the technology company’s stock worth $26,000 after buying an additional 8 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Fair Isaac during the 4th quarter valued at about $26,000. Avalon Trust Co purchased a new position in shares of Fair Isaac during the fourth quarter worth about $40,000. OFI Invest Asset Management bought a new position in shares of Fair Isaac in the fourth quarter worth approximately $42,000. Finally, Colonial Trust Co SC raised its stake in Fair Isaac by 71.4% in the fourth quarter. Colonial Trust Co SC now owns 24 shares of the technology company’s stock valued at $48,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 85.75% of the company’s stock.

Fair Isaac Price Performance

FICO opened at $1,840.14 on Thursday. The stock’s 50 day simple moving average is $1,881.57 and its 200 day simple moving average is $1,880.05. The firm has a market cap of $44.79 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 2.95 and a beta of 1.28. Fair Isaac Corporation has a 1 year low of $1,484.29 and a 1 year high of $2,402.52.

Fair Isaac (NYSE:FICO – Get Free Report) last issued its earnings results on Tuesday, April 29th. The technology company reported $7.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.33 by $0.48. Fair Isaac had a net margin of 31.36% and a negative return on equity of 51.41%. The firm had revenue of $498.74 million for the quarter, compared to analysts’ expectations of $500.45 million. During the same quarter last year, the business earned $6.14 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fair Isaac Corporation will post 24.15 EPS for the current year.

Fair Isaac declared that its board has initiated a stock buyback plan on Thursday, June 19th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Steven P. Weber sold 1,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,738.25, for a total transaction of $1,738,250.00. Following the transaction, the chief financial officer owned 1,862 shares in the company, valued at $3,236,621.50. The trade was a 34.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Lansing sold 6,010 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $1,767.82, for a total value of $10,624,598.20. Following the transaction, the chief executive officer directly owned 42,138 shares of the company’s stock, valued at $74,492,399.16. The trade was a 12.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,851 shares of company stock worth $40,543,770 in the last quarter. Insiders own 3.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FICO. Oppenheimer lifted their target price on shares of Fair Isaac from $2,116.00 to $2,293.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $2,575.00 target price on shares of Fair Isaac in a research report on Friday, June 20th. Barclays reduced their target price on Fair Isaac from $2,350.00 to $2,250.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Robert W. Baird upgraded Fair Isaac from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $2,021.00 to $1,900.00 in a research report on Wednesday, May 28th. Finally, Baird R W upgraded Fair Isaac from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,304.15.

Check Out Our Latest Report on Fair Isaac

Fair Isaac Profile

(Free Report)

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.

Further Reading

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