Zacks Investment Research upgraded shares of FactSet Research Systems Inc. (NYSE:FDS) from a sell rating to a hold rating in a research note issued to investors on Monday.
According to Zacks, “The Global business information service provider, FactSet’s fourth-quarter fiscal 2017 top and bottom line results, though marked a strong year over year improvement, both fell short of their respective Zacks Consensus Estimates. Furthermore, FactSet’s soft guidance for the forthcoming quarter makes us suspicious about a potential slowdown coming for the company. Nonetheless, we opine that its sustained focus on product innovation across segments with an emphasis on financial services to expand the customer base will continue to help it keep floating despite the current macroeconomic challenges. Moreover, FactSet’s strategy of growing through acquisitions is praiseworthy. On the flip side, competition from Bloomberg L.P., Dow Jones & Company Inc., MSCI Inc. and Thomson Reuters, which are also introducing substitute products at competitive prices, is a headwind.”
Several other analysts have also commented on FDS. Bank of America Corp. set a $185.00 price target on shares of FactSet Research Systems and gave the company a hold rating in a research report on Thursday, September 15th. Morgan Stanley set a $161.00 price target on shares of FactSet Research Systems and gave the company a hold rating in a research report on Wednesday, September 28th. Credit Suisse Group AG assumed coverage on shares of FactSet Research Systems in a research report on Sunday, November 20th. They issued an outperform rating and a $179.00 price target on the stock. Raymond James Financial Inc. lowered shares of FactSet Research Systems from a market perform rating to an underperform rating in a research report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reiterated a sell rating and issued a $125.00 price target (up from $124.00) on shares of FactSet Research Systems in a research report on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $169.67.
Shares of FactSet Research Systems (NYSE:FDS) opened at 160.68 on Monday. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 19.62 and a beta of 0.74. FactSet Research Systems has a 12 month low of $135.95 and a 12 month high of $183.17. The firm has a 50-day moving average price of $156.94 and a 200-day moving average price of $163.91.
FactSet Research Systems (NYSE:FDS) last issued its earnings results on Tuesday, September 27th. The company reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.70 by $0.01. FactSet Research Systems had a net margin of 30.06% and a return on equity of 48.65%. The company earned $287.30 million during the quarter. During the same period in the previous year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that FactSet Research Systems will post $7.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Wednesday, November 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. FactSet Research Systems’s dividend payout ratio (DPR) is presently 24.30%.
In other FactSet Research Systems news, SVP Rachel Rebecca Stern sold 1,065 shares of FactSet Research Systems stock in a transaction on Monday, October 10th. The shares were sold at an average price of $158.79, for a total value of $169,111.35. Following the transaction, the senior vice president now owns 978 shares in the company, valued at approximately $155,296.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick Philip Snow sold 6,250 shares of FactSet Research Systems stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $158.22, for a total transaction of $988,875.00. Following the completion of the transaction, the chief executive officer now owns 10,551 shares in the company, valued at approximately $1,669,379.22. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in FDS. Capstone Asset Management Co. increased its position in shares of FactSet Research Systems by 7.2% in the second quarter. Capstone Asset Management Co. now owns 5,191 shares of the company’s stock worth $838,000 after buying an additional 348 shares in the last quarter. Somerset Trust Co increased its position in shares of FactSet Research Systems by 2.4% in the second quarter. Somerset Trust Co now owns 8,084 shares of the company’s stock worth $1,305,000 after buying an additional 192 shares in the last quarter. Creative Planning increased its position in shares of FactSet Research Systems by 0.7% in the second quarter. Creative Planning now owns 1,660 shares of the company’s stock worth $268,000 after buying an additional 11 shares in the last quarter. Cue Financial Group Inc. acquired a new position in shares of FactSet Research Systems during the second quarter worth approximately $667,000. Finally, Atria Investments LLC acquired a new position in shares of FactSet Research Systems during the second quarter worth approximately $216,000. Institutional investors own 93.10% of the company’s stock.
FactSet Research Systems Company Profile
FactSet Research Systems Inc (FactSet) is a provider of integrated financial information and analytical applications to the global investment community. The Company operates through three segments based on geographic business activities: the U.S., Europe and Asia Pacific. Sales, consulting, data collection, product development and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals.