Oppenheimer Initiates Coverage on Fair Isaac (NYSE:FICO)

Equities research analysts at Oppenheimer started coverage on shares of Fair Isaac (NYSE:FICO) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $1,967.00 price target on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 12.32% from the company’s previous close.

FICO has been the subject of a number of other reports. Wolfe Research began coverage on Fair Isaac in a research note on Tuesday, July 9th. They set an “outperform” rating and a $1,725.00 price objective for the company. Needham & Company LLC increased their price target 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. Barclays increased their price target on Fair Isaac from $1,500.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Robert W. Baird increased their price target on Fair Isaac from $1,264.00 to $1,700.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada increased their price target on Fair Isaac from $1,350.00 to $1,500.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,553.42.

Fair Isaac Price Performance

Shares of NYSE FICO opened at $1,751.25 on Tuesday. The stock has a market capitalization of $43.28 billion, a P/E ratio of 91.93, a price-to-earnings-growth ratio of 5.57 and a beta of 1.34. Fair Isaac has a 1-year low of $811.99 and a 1-year high of $1,818.02. The business has a fifty day moving average price of $1,639.65 and a 200 day moving average price of $1,407.97.

Fair Isaac (NYSE:FICO) last issued its quarterly earnings data 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 company had revenue of $447.85 million for the quarter, compared to analysts’ expectations of $448.53 million. Fair Isaac had a negative return on equity of 60.67% and a net margin of 28.94%. As a group, equities research analysts anticipate that Fair Isaac will post 19.33 earnings per share for the current fiscal year.

Fair Isaac announced that its board has approved a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Thomas A. Bowers sold 3,000 shares of Fair Isaac stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $1,715.27, for a total transaction of $5,145,810.00. Following the completion of the sale, the executive vice president now owns 5,769 shares of the company’s stock, valued at $9,895,392.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven P. Weber sold 1,800 shares of Fair Isaac stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $1,735.00, for a total transaction of $3,123,000.00. Following the completion of the transaction, the chief financial officer now directly owns 575 shares in the company, valued at $997,625. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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. The disclosure for this sale can be found here. Insiders sold 24,891 shares of company stock valued at $38,037,731 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Fair Isaac during the first quarter valued at approximately $25,000. Tortoise Investment Management LLC increased its position in shares of Fair Isaac by 81.8% in the second quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock valued at $30,000 after buying an additional 9 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Fair Isaac in the first quarter valued at approximately $26,000. Family Firm Inc. purchased a new stake in shares of Fair Isaac in the second quarter valued at approximately $34,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Fair Isaac in the first quarter valued at approximately $31,000. 85.75% of the stock is currently owned by hedge funds and other institutional investors.

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.