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Fair Isaac Corporation , headquartered in Bozeman, Montana, is a leading global analytics and decision management company, providing advanced software, tools, and solutions to help businesses make data-driven decisions with a market cap of $46.83 billion.
Companies valued at $10 billion or more are classified as "large-cap" stocks, and Fair Isaac exemplifies this designation. FICO's large-cap status reflects its strong market presence, innovation in data-driven solutions, and commitment to helping organizations optimize risk management and enhance business outcomes across various sectors.
FICO shares are trading marginally below their 52-week high of $1895.08, which they hit on Sep. 16. However, the stock has gained 36.3% over the past three months, outperforming the iShares Expanded Tech-Software Sector ETF’s 6% gain over the same time frame.
In the longer term, FICO is up 62.8% on a YTD basis, and the shares have gained 112.6% over the past 52 weeks. Comparatively, IGV has gained 8.5% in 2024 and 25.1% over the past year.
To confirm the bullish price action, FICO has been trading above its 50-day moving average since early May.
Shares of Fair Isaac jumped marginally after the release of its Q3 earnings on Jul. 31. The company reported revenue of $447.8 million, which fell short of the Street forecasts of $ $448.5 million. Its adjusted earnings were $6.25 per share, missing Wall Street's expectation of $6.37 per share. FICO expects full-year earnings to be $23.16 per share, with revenue expected to be $1.7 billion.
Highlighting the contrast in performance, rival Autodesk, Inc. has underperformed FICO with a 10% gain on a YTD basis.
Given FICO's recent outperformance compared to the IGV, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from 12 analysts in coverage. The mean price target is $1,803, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Last Friday, all of the three most widely followed indexes closed out a winning week. The tech-focused Nasdaq Composite, the S&P 500 and the Dow Jones Industrial Average advanced 6%, 4% and 2.6%, respectively. These are approximately two-week highs for all three benchmark indexes.
With both consumer and producer-side inflation coming in line with expectations, investor mood was upbeat about the Fed bringing down rates more than expected earlier. The labor market was modestly up. Backed up by a positive consumer sentiment report released late in the week, currently there is a raging debate on the extent of the rate cut that would be announced by the Fed.
Per CME’s FedWatch tool, while a 25 bps rate cut still edges ahead with a 51% probability, a 50 bps cut has soared to 49%. Trade throughout the week will be dominated by the Fed’s signals and how the market interprets them.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
IAMGOLD and Sierra Surge Following Zacks Rank Upgrade
Shares of IAMGOLD Corporation IAG have surged 31.2% (versus the S&P 500’s 0.9% increase) since it was upgraded to a Zacks Rank #1 (Strong Buy) on July 18.
Another stock, Sierra Bancorp BSRR, was also upgraded to a Zacks Rank #1 on July 18 and has returned 7.9% since then.
Zacks Rank, our short-term rating system, has earnings estimate revisions at its core. Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
A hypothetical portfolio of Zacks Rank #1 (Strong Buy) stocks returned +20.63% in the year-to-date period through April 1st, 2024, vs. +11.3% for the S&P 500 index and +7.7% for the equal-weight S&P 500 index. This hypothetical portfolio returned +20.63% in 2023 vs. +24.83% for the S&P 500 index and +15% for the equal-weight S&P 500 index. The portfolio of Zacks Rank #1 stocks is an equal-weight portfolio, while the S&P 500 index is a market-cap-weighted index that has been notably distorted by the concentrated performance of mega-cap stocks since October 2022.
The Zacks Model Portfolio - consisting of Zacks Rank #1 stocks – has outperformed the S&P index by more than 16 percentage points since 1988 (Through April 1st, 2024, the Zacks # 1 Rank stocks generated an annualized return of +27.6% since 1988 vs. +11.1% for the S&P 500 index).You can see the complete list of today’s Zacks Rank #1 stocks here >>>
Check IAMGOLD’ historical EPS and Sales here>>>
Check Sierra’s historical EPS and Sales here>>>
Zacks Recommendation Upgrades Financial Institutions and First United Higher
Shares of Financial Institutions, Inc. FISI and First United Corporation FUNC have advanced 8.9% (versus the S&P 500’s 3.8% rise) and 4.7% (versus the S&P 500’s 4.4% rise), since their Zacks Recommendation was upgraded to Outperform on July 25 and July 26, respectively.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Palantir, Virtu Shoot Up
Shares of Palantir Technologies Inc. PLTR, which belongs to the Zacks Focus List, have gained 49.3% over the past 12 weeks. The stock was added to the Focus List on March 26, 2024. Another Focus-List holding, Virtu Financial, Inc. VIRT, which was added to the portfolio on July 31, 2023, has returned 39.2% over the past 12 weeks. The S&P 500 has advanced 3.1% over this period.
The Focus List portfolio returned +10.23% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight S&P 500 index.
The 50-stock Zacks Focus List model portfolio returned +31.44% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio produced -15.2% vs. the S&P 500 index’s -17.96%.
Since 2004, the Focus List portfolio has produced an annualized return of +11.91% (through March 31st, 2024). This compares to a +10.25% annualized return for the S&P 500 index in the same time period.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks Fair Isaac and UnitedHealth Make Significant Gains
Fair Isaac Corporation FICO, a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 30.1% over the past 12 weeks. UnitedHealth Group Incorporated UNH has followed Fair Isaac with 23.2% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy-and-Hold stocks, returned +9.08% in the year-to-date period (through March 31st, 2024) vs. +10.42%. In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, the ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks 3M and Starbucks Outshine Peers
3M Company MMM, which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 30.1% over the past 12 weeks. Another ECDP stock, Starbucks Corporation SBUX, has climbed 23.4% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check 3M’s dividend history here>>>
Check Starbucks’ dividend history here>>>
With an extremely low Beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned +4.47% in the year-to-date period (through March 31st, 2024) vs. +10.42% for the S&P 500 index (IVV) and +6.9% for the Dividend Aristocrats ETF (NOBL).
The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stocks — Badger Meter Delivers Solid Returns
Badger Meter, Inc. BMI, from the Zacks Top 10 Stocks for 2024, has jumped 35.4% year to date compared with an 18.3% increase for the S&P 500 Index.
The Top 10 portfolio returned +19.56% in 2024 Q1 vs. +10.56% for the S&P 500 index and +7.9% for the equal-weight version of the index.
The Top 10 portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index. Since 2012, the Top 10 portfolio has produced a cumulative return of +1,060.9% through the end of 2023 vs. +360.1% for the S&P 500 index.
Since 2012, the Zacks Top 10 portfolio has produced an annualized return of +25.02% through the end of 2024 Q1 vs. +14.1% for the S&P 500 index and +12.7% for the equal-weight version of the index. The portfolio has produced a cumulative return of +1,442.3% vs. +403.03% for the S&P 500 index and +331.29% for the equal-weight index.
Zacks Investment Research
The Franklin U.S. Mid Cap Multifactor Index ETF (FLQM) made its debut on 04/26/2017, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Mid Cap Blend category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
Managed by Franklin Templeton Investments, FLQM has amassed assets over $943.83 million, making it one of the average sized ETFs in the Style Box - Mid Cap Blend. FLQM seeks to match the performance of the LibertyQ U.S. Mid Cap Equity Index before fees and expenses.
The LibertyQ U.S. Mid Cap Equity Index includes U.S. mid-capitalization companies that have favorable exposure to four investment style factors - quality, value, momentum and low volatility.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.30% for this ETF, which makes it on par with most peer products in the space.
FLQM's 12-month trailing dividend yield is 1.21%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
For FLQM, it has heaviest allocation in the Industrials sector --about 22.70% of the portfolio --while Consumer Discretionary and Information Technology round out the top three.
Taking into account individual holdings, Fair Isaac Corp (FICO) accounts for about 1.29% of the fund's total assets, followed by Dr Horton Inc (DHI) and Gartner Inc (IT).
The top 10 holdings account for about 11.14% of total assets under management.
Performance and Risk
The ETF return is roughly 12.10% and it's up approximately 23% so far this year and in the past one year (as of 09/13/2024), respectively. FLQM has traded between $40.75 and $54.84 during this last 52-week period.
FLQM has a beta of 1.02 and standard deviation of 17.19% for the trailing three-year period. With about 206 holdings, it effectively diversifies company-specific risk.
Alternatives
Franklin U.S. Mid Cap Multifactor Index ETF is a reasonable option for investors seeking to outperform the Style Box - Mid Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Mid-Cap ETF (VO) tracks CRSP US Mid Cap Index and the iShares Core S&P Mid-Cap ETF (IJH) tracks S&P MidCap 400 Index. Vanguard Mid-Cap ETF has $67.34 billion in assets, iShares Core S&P Mid-Cap ETF has $86.79 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Mid Cap Blend.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
NEW DELHI, Sept 10 (Reuters) - Electronic components maker Jabil JBL.N will set up a manufacturing plant in India's southern state of Tamil Nadu with an investment of about 20 billion rupees ($238.2 million), the state's industries minister said on Tuesday.
U.S.-based Jabil, a supplier to Apple AAPL.O, will base its plant near the city of Trichy as part of an agreement signed in Chicago that will create close to 5,000 jobs, Tamil Nadu Minister T R B Rajaa said on social media site X.
"India is emerging as a key manufacturing hub," said Matt Crowley, executive vice president for global business units at Jabil.
"Our expansion in India will enable Jabil to meet and grow with the future needs of our customers and complement our existing facility in Pune," he added, referring to the Western Indian city.
Tamil Nadu has also signed an agreement with Rockwell Automation ROK.N worth 6.66 billion rupees to expand the automation products maker's manufacturing in the Indian state, and another agreement of undisclosed value with Autodesk ADSK.O, Chief Minister M K Stalin said.
Rockwell and Autodesk did not immediately respond to requests for comment.
($1 = 83.9640 Indian rupees)
(Reporting by Pushkala Aripaka; Editing by Jamie Freed)
(( Pushkala.A@thomsonreuters.com ; X and LinkedIn: @pullthekart;))
Keywords: JABIL-INDIA/PLANT
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