FICO Announces New Stock Repurchase Program

Rhea-AI Summary

FICO (NYSE:FICO) has approved a new stock repurchase program totaling $500 million for its outstanding common stock, succeeding the prior program that ran from July 2020 to March 2021. This open-ended initiative allows for share buys in the open market and negotiated transactions to enhance shareholder value. FICO, a leader in predictive analytics, continues to focus on delivering robust decision management solutions across industries worldwide.

Positive

• Approval of a new stock repurchase program worth $500 million, enhancing potential shareholder value.
• Continuation of financial strategies to support stock performance.

Negative

• None.

SAN JOSE, Calif., March 15, 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 July 2020 through March 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 FICO'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, or divestitures, and material adverse developments in global economic conditions or in the markets we serve. Additional information on these risks and uncertainties and other factors that could affect FICO's future results are described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2020 and its subsequent filings with the SEC. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. FICO disclaims any intent or obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE FICO

FAQ

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

FICO's new stock repurchase program is approved for up to $500 million.

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

The program aims to enhance shareholder value by repurchasing outstanding shares.

When did FICO's previous stock repurchase program end?

The previous stock repurchase program ended in March 2021.

How does the stock repurchase program impact FICO's stock price?

The stock repurchase program may support FICO's stock price by reducing the number of shares outstanding.