Fair Isaac (NYSE:FICO) Price Target Increased to $1,500.00 by Analysts at Royal Bank of Canada

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

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

Fair Isaac Trading Down 0.6 %

NYSE:FICO traded down $9.63 during mid-day trading on Thursday, hitting $1,590.75. The company had a trading volume of 59,773 shares, compared to its average volume of 179,821. The business has a fifty day simple moving average of $1,477.43 and a 200-day simple moving average of $1,334.65. Fair Isaac has a 1 year low of $811.99 and a 1 year high of $1,668.63. The firm has a market capitalization of $39.01 billion, a price-to-earnings ratio of 84.01, a PEG ratio of 4.26 and a beta of 1.34.

Fair Isaac announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Fair Isaac

In related news, Director Joanna Rees sold 500 shares of Fair Isaac stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $1,350.00, for a total transaction of $675,000.00. Following the completion of the sale, the director now owns 20,618 shares of the company’s stock, valued at approximately $27,834,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark R. Scadina sold 423 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $1,372.12, for a total value of $580,406.76. Following the completion of the transaction, the executive vice president now directly owns 32,229 shares in the company, valued at approximately $44,222,055.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joanna Rees sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $1,350.00, for a total transaction of $675,000.00. Following the transaction, the director now owns 20,618 shares of the company’s stock, valued at $27,834,300. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,014 shares of company stock worth $21,888,518. Insiders own 3.54% of the company’s stock.

Institutional Investors Weigh In On Fair Isaac

Several large investors have recently modified their holdings of FICO. EntryPoint Capital LLC bought a new position in shares of Fair Isaac during the first quarter valued at about $25,000. Advisors Asset Management Inc. purchased a new position in shares of Fair Isaac in the first quarter worth about $26,000. Tortoise Investment Management LLC increased its stake 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 worth $30,000 after purchasing an additional 9 shares in the last quarter. OFI Invest Asset Management purchased a new position in Fair Isaac during the first quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new position in Fair Isaac in the 2nd quarter worth approximately $34,000. 85.75% of the stock is currently owned by institutional investors and hedge funds.

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.