FactSet Research Systems Inc. (FDS) Lifted to Hold at Zacks Investment Research
FactSet Research Systems Inc. (NYSE:FDS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. Additionally, the share repurchase program is expected to support its earnings per share in the long run and boost shareholder value.”
Several other research analysts have also commented on FDS. Cantor Fitzgerald restated a “hold” rating on shares of FactSet Research Systems in a research report on Wednesday, June 29th. Morgan Stanley restated a “hold” rating and set a $161.00 price target on shares of FactSet Research Systems in a research report on Thursday, June 30th. Credit Suisse Group AG started coverage on FactSet Research Systems in a research report on Monday, July 11th. They set an “outperform” rating and a $182.00 price target for the company. Barclays PLC raised their price target on 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. Finally, Macquarie started coverage on FactSet Research Systems in a research report on Thursday, August 25th. They set a “neutral” rating and a $180.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $170.22.
FactSet Research Systems (NYSE:FDS) opened at 162.39 on Thursday. 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 $176.21 and a 200 day moving average price of $162.30. The stock has a market capitalization of $6.60 billion, a PE ratio of 26.36 and a beta of 0.68.
FactSet Research Systems (NYSE:FDS) last released its quarterly earnings results on Tuesday, September 27th. The company reported $1.69 EPS for the quarter, missing the consensus estimate of $1.70 by $0.01. FactSet Research Systems had a return on equity of 47.98% and a net margin of 30.06%. The firm had revenue of $287.30 million for the quarter. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts anticipate that FactSet Research Systems will post $7.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, August 29th. FactSet Research Systems’s dividend payout ratio (DPR) is 24.30%.
In other FactSet Research Systems news, Director Joseph E. Laird, Jr. sold 1,000 shares of FactSet Research Systems stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $165.00, for a total transaction of $165,000.00. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $412,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of FDS. Wellington Management Group LLP boosted its stake in FactSet Research Systems by 4.9% in the first quarter. Wellington Management Group LLP now owns 1,307,959 shares of the company’s stock worth $198,195,000 after buying an additional 61,270 shares during the period. Atlanta Capital Management Co. L L C boosted its stake in FactSet Research Systems by 13.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,079,048 shares of the company’s stock worth $163,508,000 after buying an additional 125,038 shares during the period. Prudential Financial Inc. boosted its stake in FactSet Research Systems by 0.9% in the first quarter. Prudential Financial Inc. now owns 25,599 shares of the company’s stock worth $3,879,000 after buying an additional 230 shares during the period. BlackRock Group LTD boosted its stake in FactSet Research Systems by 18.7% in the first quarter. BlackRock Group LTD now owns 42,737 shares of the company’s stock worth $6,476,000 after buying an additional 6,728 shares during the period. Finally, State Street Corp boosted its stake in FactSet Research Systems by 0.6% in the first quarter. State Street Corp now owns 1,069,984 shares of the company’s stock worth $162,130,000 after buying an additional 6,153 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.
About FactSet Research Systems
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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