Jennison Associates LLC raised its position in Fair Isaac Co. (NYSE:FICO - Free Report) by 35.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,149 shares of the technology company's stock after purchasing an additional 62,653 shares during the period. Jennison Associates LLC owned about 0.98% of Fair Isaac worth $468,677,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of FICO. EntryPoint Capital LLC purchased a new position in shares of Fair Isaac during the 1st quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in Fair Isaac during the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. acquired a new stake in Fair Isaac during the 1st quarter worth approximately $26,000. 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 worth $30,000 after purchasing an additional 9 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in Fair Isaac during the 2nd quarter worth approximately $34,000. 85.75% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Joanna Rees sold 3,961 shares of the firm's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Tayloe Stansbury sold 249 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $2,338.55, for a total value of $582,298.95. Following the transaction, the director now owns 92 shares in the company, valued at $215,146.60. This trade represents a 73.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,890 shares of company stock worth $13,780,452. 3.54% of the stock is currently owned by insiders.
A number of research firms recently issued reports on FICO. Needham & Company LLC increased their target price on shares of Fair Isaac from $1,850.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Barclays increased their target price on shares of Fair Isaac from $2,150.00 to $2,350.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Royal Bank of Canada reissued a "sector perform" rating and set a $2,040.00 target price on shares of Fair Isaac in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Fair Isaac from $1,700.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, UBS Group began coverage on shares of Fair Isaac in a research report on Tuesday, October 1st. They issued a "neutral" rating and a $2,100.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,964.92.
Check Out Our Latest Report on FICO
Fair Isaac stock opened at $2,284.43 on Wednesday. The stock has a market cap of $55.63 billion, a P/E ratio of 111.71, a price-to-earnings-growth ratio of 4.16 and a beta of 1.35. The stock has a 50 day moving average of $2,026.85 and a 200-day moving average of $1,704.79. Fair Isaac Co. has a 52 week low of $1,037.55 and a 52 week high of $2,402.51.
Fair Isaac declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
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.
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