Fair Isaac (NYSE:FICO) Given New $1,500.00 Price Target at Royal Bank of Canada

Fair Isaac (NYSE:FICO) had its price target upped by Royal Bank of Canada from $1,350.00 to $1,500.00 in a research report released on Thursday, Benzinga reports. They currently have a sector perform rating on the technology company’s stock.

A number of other analysts have also commented on FICO. Raymond James boosted their price target on shares of Fair Isaac from $1,413.00 to $1,418.00 and gave the company an outperform rating in a research note on Friday, April 26th. Robert W. Baird boosted their price target on shares of Fair Isaac from $1,264.00 to $1,700.00 and gave the company a neutral rating in a research note on Thursday. Wolfe Research initiated coverage on shares of Fair Isaac in a research note on Tuesday, July 9th. They set an outperform rating and a $1,725.00 price target for the company. Redburn Atlantic initiated coverage on shares of Fair Isaac in a research note on Tuesday, April 16th. They set a neutral rating and a $1,113.00 price target for the company. Finally, Needham & Company LLC restated a buy rating and set a $1,500.00 price target on shares of Fair Isaac in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $1,399.45.

Fair Isaac Price Performance

Shares of NYSE:FICO traded down $9.72 during mid-day trading on Thursday, hitting $1,569.23. The company had a trading volume of 45,866 shares, compared to its average volume of 179,966. The firm has a fifty day moving average price of $1,473.11 and a 200 day moving average price of $1,330.59. The company has a market capitalization of $38.78 billion, a PE ratio of 82.83, a price-to-earnings-growth ratio of 4.31 and a beta of 1.34. Fair Isaac has a one year low of $811.99 and a one year high of $1,668.63.

Fair Isaac declared that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Joanna Rees sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $1,255.00, for a total value of $1,255,000.00. Following the transaction, the director now directly owns 21,118 shares of the company’s stock, valued at approximately $26,503,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Fair Isaac news, Director Joanna Rees sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $1,255.00, for a total transaction of $1,255,000.00. Following the sale, the director now directly owns 21,118 shares of the company’s stock, valued at $26,503,090. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard Deal sold 13,591 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $1,374.30, for a total transaction of $18,678,111.30. Following the sale, the executive vice president now directly owns 49,314 shares in the company, valued at $67,772,230.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,014 shares of company stock valued at $21,888,518. 3.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Fair Isaac

Several institutional investors have recently added to or reduced their stakes in FICO. EntryPoint Capital LLC purchased a new stake in Fair Isaac during the first quarter valued at about $25,000. Advisors Asset Management Inc. bought a new stake in shares of Fair Isaac during the first quarter valued at about $26,000. Tortoise Investment Management LLC increased its position in shares of Fair Isaac by 81.8% during 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 during the period. OFI Invest Asset Management bought a new stake in shares of Fair Isaac during the first quarter valued at about $31,000. Finally, Family Firm Inc. bought a new stake in shares of Fair Isaac during the second quarter valued at about $34,000. 85.75% of the stock is 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.