FICO Announces New Stock Repurchase Program

Rhea-AI Summary

FICO (NYSE:FICO) has announced a new stock repurchase program, allowing for the buyback of up to $500 million of its outstanding shares. This program follows the completion of the prior buyback from August 2021 to November 2021. The new program is open-ended, enabling shares to be purchased in the open market or through negotiated transactions. This initiative aims to enhance shareholder value, reflecting the company's ongoing commitment to returning capital to investors.

Positive

• Authorization of a $500 million stock repurchase program aimed at enhancing shareholder value.
• Continuation of capital return strategy following the successful prior buyback.

Negative

• None.

BOZEMAN, Mont., Nov. 30, 2021 /PRNewswire/ -- FICO (NYSE:FICO), a leading predictive analytics and decision management software company, today announced that its Board of Directors has approved a stock repurchase program to acquire up to $500 million of the company's outstanding common stock. This new program was approved following completion of FICO's previous stock repurchase program, which was in effect from August 2021 through November 2021. The new stock repurchase program, which is open-ended, allows the company to repurchase its shares from time to time in the open market and in negotiated transactions.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 165 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com

Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the impact of COVID-19 on macroeconomic conditions and the Company's business, operations and personnel, the success of the Company's Decision Management strategy and reengineering initiative, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to protect such data, the failure to realize the anticipated benefits of any acquisitions, material adverse developments in global economic conditions or in the markets we serve, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2021 and subsequent quarterly reports on Form 10-Q. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.

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SOURCE FICO

FAQ

What is the purpose of FICO's new stock repurchase program?

The purpose is to enhance shareholder value by buying back up to $500 million of the company’s outstanding common stock.

When was FICO's previous stock repurchase program active?

FICO's previous stock repurchase program was in effect from August 2021 through November 2021.

How much is FICO allocated for its new stock buyback program?

FICO has allocated up to $500 million for its new stock repurchase program.

What timeframe does the new FICO stock repurchase program cover?

The new stock repurchase program is open-ended, allowing for flexibility in timing.

How might the stock buyback affect FICO's stock price?

The stock buyback could potentially lead to an increase in FICO's stock price by reducing the number of outstanding shares and improving earnings per share.