Wells Fargo & Company Raises Fair Isaac (NYSE:FICO) Price Target to $2,200.00

Fair Isaac (NYSE:FICO) had its price objective raised by stock analysts at Wells Fargo & Company from $2,100.00 to $2,200.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.50% from the stock’s current price.

Other research analysts have also issued research reports about the company. Needham & Company LLC raised their target price on Fair Isaac from $1,500.00 to $1,850.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer began coverage on Fair Isaac in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $1,967.00 price target on the stock. Robert W. Baird boosted their price objective 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. Wolfe Research began coverage on Fair Isaac in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $1,725.00 target price on the stock. Finally, UBS Group assumed coverage on Fair Isaac in a research note on Tuesday. They issued a “neutral” rating and a $2,100.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,705.17.

Fair Isaac Price Performance

Shares of FICO stock traded down $22.20 on Tuesday, hitting $1,921.32. 111,013 shares of the company’s stock were exchanged, compared to its average volume of 172,672. The stock has a market cap of $47.48 billion, a P/E ratio of 101.30, a price-to-earnings-growth ratio of 4.69 and a beta of 1.34. Fair Isaac has a 12 month low of $811.99 and a 12 month high of $1,962.96. The company has a 50 day moving average of $1,754.26 and a 200 day moving average of $1,484.18.

Fair Isaac (NYSE:FICO) last released its earnings results on Wednesday, July 31st. The technology company reported $4.99 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.34). Fair Isaac had a negative return on equity of 60.67% and a net margin of 28.94%. The business had revenue of $447.85 million for the quarter, compared to analyst estimates of $448.53 million. Sell-side analysts predict that Fair Isaac will post 19.19 EPS for the current fiscal year.

Fair Isaac announced that its board has authorized a stock repurchase program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Fair Isaac 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Steven P. Weber sold 1,800 shares of the 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 value of $3,123,000.00. Following the completion of the transaction, the chief financial officer now owns 575 shares of the company’s stock, valued at approximately $997,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 15,261 shares of company stock worth $26,291,370. 3.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Fair Isaac during the 1st quarter valued at approximately $25,000. Tortoise Investment Management LLC increased its position in Fair Isaac by 81.8% during the 2nd 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. bought a new position in Fair Isaac during the 1st quarter valued at approximately $26,000. Family Firm Inc. bought a new position in Fair Isaac during the 2nd quarter valued at approximately $34,000. Finally, OFI Invest Asset Management bought a new position in Fair Isaac during the 1st quarter valued at approximately $31,000. Institutional investors own 85.75% of the company’s stock.

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.