Marks Group Wealth Management Inc Reduces Stock Position in Fair Isaac Co. (NYSE:FICO)

Marks Group Wealth Management Inc lessened its stake in Fair Isaac Co. (NYSE:FICO) by 17.2% in the third quarter, HoldingsChannel reports. The firm owned 5,092 shares of the technology company’s stock after selling 1,058 shares during the period. Fair Isaac makes up approximately 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 18th largest holding. Marks Group Wealth Management Inc’s holdings in Fair Isaac were worth $9,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Fair Isaac during the 1st quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new position in Fair Isaac during the first quarter valued at approximately $26,000. Tortoise Investment Management LLC increased its stake in Fair Isaac by 81.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 20 shares of the technology company’s stock worth $30,000 after acquiring an additional 9 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Fair Isaac in the second quarter valued at $34,000. Finally, Covestor Ltd lifted its position in Fair Isaac by 140.0% during the first quarter. Covestor Ltd now owns 36 shares of the technology company’s stock valued at $46,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FICO shares. Royal Bank of Canada upped their target price on shares of Fair Isaac from $1,350.00 to $1,500.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. UBS Group started coverage on Fair Isaac in a report on Tuesday, October 1st. They issued a “neutral” rating and a $2,100.00 target price for the company. Needham & Company LLC lifted their price objective on shares of Fair Isaac from $1,500.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Barclays increased their target price on shares of Fair Isaac from $1,800.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Wells Fargo & Company upped their price objective on Fair Isaac from $2,100.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Four equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,787.08.

Fair Isaac Price Performance

FICO opened at $2,008.66 on Wednesday. The firm has a market capitalization of $49.25 billion, a PE ratio of 105.61, a price-to-earnings-growth ratio of 3.68 and a beta of 1.35. The business’s 50-day moving average is $1,913.35 and its two-hundred day moving average is $1,619.96. Fair Isaac Co. has a 1 year low of $900.01 and a 1 year high of $2,103.70.

Fair Isaac declared that its board has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Fair Isaac

In other 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 value of $6,931,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Steven P. Weber sold 1,800 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $1,735.00, for a total value of $3,123,000.00. Following the sale, the chief financial officer now directly owns 575 shares of the company’s stock, valued at $997,625. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Rees sold 3,961 shares of Fair Isaac stock in a transaction dated Thursday, September 5th. The shares were 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. Insiders sold 12,261 shares of company stock valued at $21,200,190 over the last 90 days. Insiders own 3.54% of the company’s stock.

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.