Assetmark Inc. Decreases Stake in Fair Isaac Co. (NYSE:FICO)

Assetmark Inc. cut its stake in Fair Isaac Co. (NYSE:FICO) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78 shares of the technology company’s stock after selling 34 shares during the quarter. Assetmark Inc.’s holdings in Fair Isaac were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Fair Isaac during the 1st quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Fair Isaac during the 3rd quarter worth about $25,000. Advisors Asset Management Inc. acquired a new stake in shares of Fair Isaac during the 1st quarter worth about $26,000. Tortoise Investment Management LLC increased its position in shares of 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 purchasing an additional 9 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Fair Isaac during the 2nd quarter worth about $34,000. 85.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on FICO shares. The Goldman Sachs Group raised 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. UBS Group began coverage on Fair Isaac in a report on Tuesday, October 1st. They set a “neutral” rating and a $2,100.00 target price for the company. Robert W. Baird raised their target price on Fair Isaac from $1,700.00 to $2,000.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on Fair Isaac from $2,200.00 to $2,400.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC raised their target price on Fair Isaac from $1,850.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,964.92.

Insider Activity

In related news, Director Henry Tayloe Stansbury sold 249 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $2,338.55, for a total transaction of $582,298.95. Following the completion of the sale, the director now owns 92 shares in the company, valued at $215,146.60. The trade was a 73.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joanna Rees sold 3,961 shares of the business’s 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 quarter, insiders sold 6,890 shares of company stock worth $13,780,452. 3.54% of the stock is currently owned by company insiders.

Fair Isaac Stock Performance

Shares of FICO opened at $2,261.00 on Monday. The stock has a 50-day simple moving average of $2,007.25 and a 200-day simple moving average of $1,689.33. The stock has a market capitalization of $55.05 billion, a PE ratio of 110.56, a PEG ratio of 4.16 and a beta of 1.35. Fair Isaac Co. has a 1 year low of $1,021.06 and a 1 year high of $2,402.51.

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

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.