Last $79.28 USD
Change Today +0.61 / 0.78%
Volume 370.5K
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As of 8:04 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

fair isaac corp (FICO) Key Developments

FICO Receives Four New Patents for Network Protection, Fraud Detection, Personalised Marketing and Real-Time Analytic Discovery

FICO announced that it has been awarded four new patents related to fraud detection and advanced analytics. FICO now holds 170 US and foreign patents, and has 93 pending patent applications. Members of FICO's fraud analytics team patented a network assurance analytic system that monitors telecommunications networks with real-time, streaming, self-calibrating analytic models. FICO uses this technology to determine abnormalities in network traffic, and the invention is also incorporated in the company's work in cyber security. FICO also patented a technology for ‘fuzzy tagging,’ which involves a method for tagging a transaction for fraud risk. Rather than tagging each transaction as a binary fraud or non-fraud, the technology uses a spectrum of continuous values to tag transactions, effectively weighting them by their correspondence with fraud across the entire FICO Fraud Consortium. This technique is used in the FICO Falcon Platform as well as in custom modeling projects to help improve fraud detection, reduce false positives and improve the customer experience. In terms of marketing solutions, FICO patented a ‘product space browser,’ a graphical user interface that helps retailers discover the relationships between a customer's purchases and their needs. The invention allows retailers to turn masses of purchase transaction data into visual maps that show product affinities and purchase patterns by customer and across customers. This facilitates the discovery of new insights, even for retailers with millions of customers and hundreds of thousands of products. The technology is one of the innovations that led to FICO Analytic Offer Manager, FICO's groundbreaking solution for highly personalised marketing. FICO's fourth new patent is for real-time determination of data stream semantics. This innovation analyzes large amounts of information in real time to categorize the information into clusters of semantic similarity without knowing the contents of the data or having a prior example of the data structure. This invention can be useful in many applications where new datasets are received that must be classified instantly.

Fair Isaac Corporation Enters a Amended and Restated Credit Agreement

Fair Isaac Corporation entered into an Amended and Restated Credit Agreement among the Company, the several banks and other financial institutions from time to time parties thereto, Wells Fargo Securities, LLC, as joint lead arranger and joint bookrunner, U.S. Bank National Association, as syndication agent, joint lead arranger and joint bookrunner, and Wells Fargo Bank, National Association, as administrative agent. The Credit Agreement provides an unsecured $400 million five-year revolving credit facility The Credit Facility may be increased to $500 million subject to certain terms and conditions. Proceeds from the Credit Facility may be used to refinance certain debt outstanding, finance permitted acquisitions, repurchase shares of the Company’s capital stock in accordance with applicable legal requirements and provide for the working capital needs and general corporate purposes of the Company and its subsidiaries. Interest on the amounts borrowed under the Credit Facility is based on (i) a base rate, which is the greater of (a) Wells Fargo Bank’s base rate, (b) the federal funds rate plus 50 basis points and (c) the one-month Eurodollar rate plus 100 basis points, plus, in each case, an applicable margin, or (ii) an adjusted Eurodollar rate, plus an applicable margin. The applicable margin for Eurodollar borrowings ranges from 100 to 187.5 basis points and the applicable margin for base rate borrowings ranges from 0 to 87.5 basis points. The applicable margin is determined based on the Company’s total leverage ratio. The Company is restricted in its borrowings and in general under the Credit Agreement by certain financial covenants. The Company is required to maintain a fixed charge coverage ratio of not less than 2.50 to 1.00 and a total leverage ratio of not more than 3.00 to 1.00, subject to a step up to 3.50 to 1.00 following certain permitted acquisitions if certain conditions are met. The Credit Agreement also contains covenants typical of unsecured credit facilities. The Credit Agreement includes customary default provisions that include a change of control of the Company or the Company’s default on other debt exceeding $25 million. If an event of default occurs, the applicable interest rate is increased by 2% and all outstanding obligations may become immediately due and payable.

FICO Opens Office in Johannesburg; Announces Derick Cluley Lead the Johannesburg Office

FICO announced that it has opened a new office in Johannesburg, South Africa. FICO is growing its regional presence to meet increasing demand for analytics-powered solutions, and to provide greater support for its South African clients, which include the country's big four banks as well as many of the retailers. FICO's new Johannesburg office is led by Derick Cluley, who oversees FICO's operations in Africa.

FICO Announces Availability of Fico Score 9 from TransUnion

FICO has announced the availability of FICO Score 9 from TransUnion, a provider of credit information and information management services, for lenders and other businesses. Due to refinements in risk analytics behind FICO Score 9, more consumers are expected to score in the higher score ranges that lenders generally require, enabling lenders to approve loans to millions more qualified consumers while keeping their portfolio risk level steady. This new version of the FICO Score also introduces a more nuanced way to assess collection information that appears on the consumer's credit report, bypassing paid collection agency accounts and offering a sophisticated treatment differentiating medical from non-medical collection agency accounts. This will help ensure that medical collections have a lower impact on the score, commensurate with the credit risk they represent. FICO has used sophisticated modeling techniques to make the new FICO Score 9 even more predictive of a consumer's likelihood to repay a debt than previous versions. This new version of the FICO Score, the industry-standard measure of US consumer credit risk, captures recent consumer behavior to give lenders better risk assessments across the credit lifecycle and all credit products.

Fair Isaac Corporation Presents at Barclays Capital Global Technology Conference, Dec-10-2014 02:30 PM

Fair Isaac Corporation Presents at Barclays Capital Global Technology Conference, Dec-10-2014 02:30 PM. Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, California, United States. Speakers: William J. Lansing, Chief Executive Officer, President and Director.

 

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FICO

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Valuation FICO Industry Range
Price/Earnings 28.9x
Price/Sales 3.2x
Price/Book 5.5x
Price/Cash Flow 23.4x
TEV/Sales 2.3x
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