Renaissance Technologies LLC Trims Stock Holdings in Fair Isaac Co. (NYSE:FICO)

Renaissance Technologies LLC lowered its holdings in Fair Isaac Co. (NYSE:FICO) by 60.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,550 shares of the technology company’s stock after selling 19,300 shares during the period. Renaissance Technologies LLC owned approximately 0.05% of Fair Isaac worth $18,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Commerce Bank boosted its holdings in shares of Fair Isaac by 704.8% in the first quarter. Commerce Bank now owns 6,084 shares of the technology company’s stock worth $7,603,000 after acquiring an additional 5,328 shares during the period. Seven Eight Capital LP boosted its stake in Fair Isaac by 140.0% in the 4th quarter. Seven Eight Capital LP now owns 1,440 shares of the technology company’s stock worth $1,676,000 after purchasing an additional 840 shares during the period. BNP Paribas Financial Markets grew its holdings in Fair Isaac by 44.5% during the 1st quarter. BNP Paribas Financial Markets now owns 29,516 shares of the technology company’s stock valued at $36,883,000 after buying an additional 9,094 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fair Isaac by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,855,775 shares of the technology company’s stock worth $3,568,605,000 after buying an additional 35,263 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Fair Isaac by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 861,283 shares of the technology company’s stock valued at $1,076,268,000 after acquiring an additional 174,397 shares during the period. 85.75% of the stock is owned by institutional investors.

Fair Isaac Price Performance

Shares of NYSE FICO opened at $1,934.63 on Friday. The stock has a market capitalization of $47.81 billion, a P/E ratio of 101.56, a PEG ratio of 4.41 and a beta of 1.34. Fair Isaac Co. has a one year low of $811.99 and a one year high of $1,951.40. The firm’s 50 day simple moving average is $1,708.37 and its two-hundred day simple moving average is $1,450.09.

Fair Isaac (NYSE:FICO) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.34). Fair Isaac had a net margin of 28.94% and a negative return on equity of 60.67%. The company had revenue of $447.85 million for the quarter, compared to the consensus estimate of $448.53 million. As a group, equities analysts expect that Fair Isaac Co. will post 19.19 earnings per share for the current fiscal year.

Fair Isaac declared that its board has initiated a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director James Kirsner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,697.06, for a total transaction of $5,091,180.00. Following the completion of the sale, the director now owns 13,002 shares of the company’s stock, valued at $22,065,174.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Fair Isaac news, Director Joanna Rees sold 3,961 shares of the company’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 transaction of $6,931,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Kirsner sold 3,000 shares of Fair Isaac stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,697.06, for a total value of $5,091,180.00. Following the completion of the sale, the director now owns 13,002 shares in the company, valued at $22,065,174.12. The disclosure for this sale can be found here. Insiders have sold 15,261 shares of company stock valued at $26,291,370 in the last ninety days. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FICO. Barclays increased their target price on shares of Fair Isaac from $1,800.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Wolfe Research assumed coverage on Fair Isaac in a research note on Tuesday, July 9th. They set an “outperform” rating and a $1,725.00 price objective for the company. Robert W. Baird boosted their target price on Fair Isaac from $1,264.00 to $1,700.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price target 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. Finally, Oppenheimer began coverage on Fair Isaac in a report on Tuesday, September 3rd. They set an “outperform” rating and a $1,967.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,582.58.

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.