Zacks Investment Research upgraded shares of Fair Isaac (NYSE:FICO) from a strong sell rating to a buy rating in a research report released on Friday, Zacks.com reports. The brokerage currently has $368.00 price objective on the technology company’s stock.
According to Zacks, “Fair Isaac Corporation makes decisions smarter. The company’s solutions and technologies for Enterprise Decision Management give businesses the power to automate more processes, and apply more intelligence to every customer interaction. Through increasing the precision, consistency and agility of their decisions, Fair Isaac clients worldwide increase sales, build customer value, cut fraud losses, manage credit risk, reduce operational costs, meet changing compliance demands and enter new markets more profitably. Fair Isaac powers hundreds of billions of decisions each year in financial services, insurance, telecommunications, retail, consumer branded goods, healthcare and the public sector. “
A number of other research firms have also recently weighed in on FICO. William Blair reissued an outperform rating on shares of Fair Isaac in a research note on Tuesday, November 5th. Wells Fargo & Co upped their target price on shares of Fair Isaac from $310.00 to $415.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Robert W. Baird started coverage on shares of Fair Isaac in a research note on Monday, October 14th. They issued an outperform rating and a $352.00 target price on the stock. Stephens upped their target price on shares of Fair Isaac from $336.00 to $352.00 and gave the company an equal weight rating in a research note on Tuesday, November 5th. Finally, ValuEngine cut shares of Fair Isaac from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Fair Isaac presently has an average rating of Buy and an average price target of $357.40.
Fair Isaac (NYSE:FICO) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.33. The business had revenue of $305.30 million during the quarter, compared to analyst estimates of $287.06 million. Fair Isaac had a net margin of 16.56% and a return on equity of 66.75%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. On average, equities research analysts predict that Fair Isaac will post 6.75 EPS for the current year.
In other Fair Isaac news, CEO William J. Lansing sold 16,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $331.03, for a total transaction of $5,296,480.00. Following the sale, the chief executive officer now directly owns 180,345 shares of the company’s stock, valued at $59,699,605.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Deal sold 18,057 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $350.79, for a total transaction of $6,334,215.03. Following the sale, the insider now directly owns 56,051 shares in the company, valued at $19,662,130.29. The disclosure for this sale can be found here. In the last three months, insiders sold 109,642 shares of company stock worth $37,758,966. 6.10% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Pathstone Family Office LLC acquired a new position in shares of Fair Isaac during the second quarter worth approximately $30,000. Harvest Fund Management Co. Ltd acquired a new position in Fair Isaac in the second quarter valued at approximately $41,000. Quest Capital Management Inc. ADV acquired a new position in Fair Isaac in the third quarter valued at approximately $54,000. Advisors Preferred LLC acquired a new position in Fair Isaac in the second quarter valued at approximately $71,000. Finally, Machina Capital S.A.S. acquired a new position in Fair Isaac in the second quarter valued at approximately $81,000. Institutional investors own 82.09% of the company’s stock.
About Fair Isaac
Fair Isaac Corporation develops analytic, software, and data management products and services that enable businesses to automate, enhance, and connect decisions. The company offers analytical solutions, credit scoring, and credit account management products and services to banks, credit reporting agencies, credit card processing agencies, insurers, retailers, healthcare organizations, and public agencies.
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