Allspring Global Investments Holdings LLC Trims Stock Holdings in Fair Isaac Co. (NYSE:FICO)

Allspring Global Investments Holdings LLC reduced its stake in Fair Isaac Co. (NYSE:FICO) by 4.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,458 shares of the technology company’s stock after selling 3,490 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fair Isaac were worth $156,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Fair Isaac by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock worth $1,076,268,000 after purchasing an additional 174,397 shares during the period. Westwind Capital increased its stake in Fair Isaac by 891.8% during the second quarter. Westwind Capital now owns 69,742 shares of the technology company’s stock worth $10,382,000 after purchasing an additional 62,710 shares during the period. Spear Holdings RSC Ltd purchased a new stake in Fair Isaac during the first quarter worth about $69,478,000. Sei Investments Co. increased its stake in Fair Isaac by 231.8% during the second quarter. Sei Investments Co. now owns 69,127 shares of the technology company’s stock worth $102,908,000 after purchasing an additional 48,294 shares during the period. Finally, Vanguard Group Inc. increased its stake in Fair Isaac by 1.3% during 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 period. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FICO. Robert W. Baird boosted their price target on shares of Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. UBS Group started coverage on shares of Fair Isaac in a research note on Tuesday, October 1st. They set a “neutral” rating and a $2,100.00 target price on the stock. 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. Needham & Company LLC upped their target price on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on shares of Fair Isaac from $1,879.00 to $2,130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,787.08.

Fair Isaac Stock Down 3.2 %

FICO traded down $65.49 on Friday, reaching $1,973.46. The company’s stock had a trading volume of 206,313 shares, compared to its average volume of 170,826. The company has a market capitalization of $48.77 billion, a price-to-earnings ratio of 103.59, a P/E/G ratio of 3.78 and a beta of 1.35. Fair Isaac Co. has a fifty-two week low of $811.99 and a fifty-two week high of $2,103.70. The stock has a 50 day moving average of $1,857.71 and a two-hundred day moving average of $1,554.84.

Fair Isaac (NYSE:FICO) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.34). The firm had revenue of $447.85 million during the quarter, compared to analyst estimates 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, analysts anticipate that Fair Isaac Co. will post 19.33 earnings per share for the current fiscal year.

Fair Isaac announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Joanna Rees sold 3,961 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joanna Rees sold 3,961 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven P. Weber sold 1,800 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $1,735.00, for a total value of $3,123,000.00. Following the sale, the chief financial officer now directly owns 575 shares of the company’s stock, valued at approximately $997,625. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,261 shares of company stock valued at $26,291,370. 3.54% of the stock is currently owned by company insiders.

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.