Fair Isaac Approves New Share Buyback Up To 5% Stock

Leading predictive analytics and decision management software company Fair Isaac Corp's FICO board approved a stock repurchase program to acquire up to $500 million of the company's outstanding common stock.
The company's current market cap is about $10 billion, and the buyback makes up about 5% of the total outstanding stock.
The new program followed the completion of FICO's previous stock repurchase program, which was in effect from January 2022 through October 2022.
Fair Isaac held $155.1 million in cash and equivalents as of June 30. Free cash flow was $115.2 million for the quarter.
Price Action: FICO shares traded higher by 0.13% at $396.81 on the last check Tuesday.