Sompo Asset Management Co. Ltd. Lowers Stock Holdings in Fair Isaac Co. (NYSE:FICO)

Sompo Asset Management Co. Ltd. cut its position in Fair Isaac Co. (NYSE:FICO) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 490 shares of the technology company’s stock after selling 110 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Fair Isaac were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FICO. Capital Performance Advisors LLP acquired a new position in Fair Isaac in the 3rd quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in shares of Fair Isaac in the first quarter valued at approximately $25,000. Tortoise Investment Management LLC increased its stake in Fair Isaac by 81.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock worth $30,000 after buying an additional 9 shares during the period. Advisors Asset Management Inc. acquired a new stake in Fair Isaac during the 1st quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. boosted its position in Fair Isaac by 37.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 22 shares of the technology company’s stock valued at $43,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 85.75% of the company’s stock.

Insider Buying and Selling

In other Fair Isaac news, Director Henry Tayloe Stansbury sold 249 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $2,338.55, for a total transaction of $582,298.95. Following the transaction, the director now directly owns 92 shares of the company’s stock, valued at approximately $215,146.60. This trade represents a 73.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas A. Bowers sold 2,680 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $2,338.21, for a total transaction of $6,266,402.80. Following the completion of the sale, the executive vice president now directly owns 5,769 shares of the company’s stock, valued at $13,489,133.49. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,890 shares of company stock worth $13,780,452 in the last quarter. 3.54% of the stock is owned by insiders.

Fair Isaac Stock Performance

Shares of FICO stock opened at $2,355.35 on Friday. Fair Isaac Co. has a 1 year low of $1,061.96 and a 1 year high of $2,402.51. The firm has a market cap of $57.35 billion, a price-to-earnings ratio of 115.18, a PEG ratio of 4.30 and a beta of 1.35. The stock’s 50-day moving average is $2,055.62 and its two-hundred day moving average is $1,724.47.

Fair Isaac declared that its board has initiated a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FICO shares. The Goldman Sachs Group boosted their price objective on Fair Isaac from $2,130.00 to $2,374.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Fair Isaac from $2,200.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of Fair Isaac from $2,150.00 to $2,350.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Fair Isaac from $1,700.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $2,040.00 price target on shares of Fair Isaac in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,964.92.

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.