Trading Report: Today: The Zacks Investment Research Downgraded FactSet Research Systems Inc. (FDS) to Sell

Today: The Zacks Investment Research Downgraded FactSet Research Systems Inc. (FDS) to Sell

FactSet Research Systems Inc. (NYSE:FDS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

According to Zacks, “The Global business information service provider, FactSet’s estimates are moving down off late. 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. 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.”

Several other research analysts also recently issued reports on FDS. Cantor Fitzgerald reissued a “hold” rating on shares of FactSet Research Systems in a research report on Friday, August 19th. Barclays PLC raised their price objective on shares of FactSet Research Systems from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 23rd. Macquarie started coverage on shares of FactSet Research Systems in a research report on Thursday, August 25th. They set a “neutral” rating and a $180.00 price objective on the stock. Bank of America Corp. set a $185.00 price objective on shares of FactSet Research Systems and gave the stock a “hold” rating in a research report on Thursday, September 15th. Finally, Raymond James Financial Inc. downgraded shares of FactSet Research Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday, September 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $169.67.

FactSet Research Systems (NYSE:FDS) traded up 0.24% on Monday, hitting $160.79. 337,093 shares of the company traded hands. The stock has a market cap of $6.42 billion, a PE ratio of 19.63 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 stock’s 50-day moving average is $156.95 and its 200 day moving average is $163.97.

FactSet Research Systems (NYSE:FDS) last issued its quarterly earnings data on Tuesday, September 27th. The company reported $1.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by $0.01. FactSet Research Systems had a return on equity of 48.65% and a net margin of 30.06%. The business had revenue of $287.30 million for the quarter. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that FactSet Research Systems will post $7.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, November 28th. FactSet Research Systems’s payout ratio is currently 24.30%.

In other news, SVP Rachel Rebecca Stern sold 1,065 shares of FactSet Research Systems stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $158.79, for a total transaction of $169,111.35. Following the completion of the sale, the senior vice president now directly owns 978 shares in the company, valued at $155,296.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederick Philip Snow sold 6,250 shares of FactSet Research Systems stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $158.22, for a total transaction of $988,875.00. Following the sale, the chief executive officer now owns 10,551 shares of the company’s stock, valued at $1,669,379.22. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in shares of FactSet Research Systems by 37.7% in the second quarter. Penserra Capital Management LLC now owns 712 shares of the company’s stock worth $115,000 after buying an additional 195 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of FactSet Research Systems by 571.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 940 shares of the company’s stock worth $152,000 after buying an additional 800 shares during the period. Glenmede Trust Co. NA increased its stake in shares of FactSet Research Systems by 1.1% in the second quarter. Glenmede Trust Co. NA now owns 1,142 shares of the company’s stock worth $184,000 after buying an additional 12 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of FactSet Research Systems by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,210 shares of the company’s stock worth $196,000 after buying an additional 156 shares during the period. Finally, Southeast Asset Advisors Inc. purchased a new stake in shares of FactSet Research Systems during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 94.75% 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.

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