FactSet Research Systems Inc. (NYSE:FDS) Cut to Hold at BidaskClub
BidaskClub lowered shares of FactSet Research Systems Inc. (NYSE:FDS) from a buy rating to a hold rating in a research note issued to investors on Tuesday, July 11th.
FDS has been the subject of several other reports. Zacks Investment Research downgraded shares of FactSet Research Systems from a buy rating to a hold rating in a research note on Thursday, March 30th. Stifel Nicolaus reissued a hold rating and issued a $163.00 price objective on shares of FactSet Research Systems in a research note on Tuesday, April 25th. Credit Suisse Group lifted their price objective on shares of FactSet Research Systems from $179.00 to $185.00 and gave the company an outperform rating in a research note on Wednesday, March 29th. UBS AG reissued a buy rating and issued a $146.00 price objective (down from $150.00) on shares of FactSet Research Systems in a research note on Friday, June 9th. Finally, Deutsche Bank AG initiated coverage on shares of FactSet Research Systems in a report on Wednesday, May 10th. They issued a hold rating and a $160.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $166.27.
FactSet Research Systems (FDS) traded up 0.32% during trading on Tuesday, reaching $166.10. The company had a trading volume of 145,140 shares. The stock has a 50 day moving average price of $165.38 and a 200 day moving average price of $168.59. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 19.52 and a beta of 0.95. FactSet Research Systems has a 12 month low of $150.95 and a 12 month high of $183.64.
FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings data on Tuesday, June 27th. The business services provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.01. FactSet Research Systems had a net margin of 29.02% and a return on equity of 55.72%. The company had revenue of $312.12 million during the quarter, compared to the consensus estimate of $314.14 million. During the same period in the prior year, the business posted $1.64 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts predict that FactSet Research Systems will post $7.30 earnings per share for the current year.
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FactSet Research Systems announced that its Board of Directors has approved a share buyback plan on Tuesday, March 28th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, Chairman Philip A. Hadley sold 38,942 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $163.83, for a total value of $6,379,867.86. Following the transaction, the chairman now owns 666,494 shares of the company’s stock, valued at approximately $109,191,712.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph E. Laird, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $166.00, for a total transaction of $166,000.00. Following the completion of the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $1,494,000. The disclosure for this sale can be found here. Insiders have sold a total of 206,858 shares of company stock worth $34,453,143 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in FDS. SRS Capital Advisors Inc. raised its position in FactSet Research Systems by 17.4% in the first quarter. SRS Capital Advisors Inc. now owns 891 shares of the business services provider’s stock valued at $147,000 after buying an additional 132 shares in the last quarter. Harfst & Associates Inc. acquired a new position in FactSet Research Systems during the first quarter valued at approximately $199,000. Penobscot Investment Management Company Inc. raised its position in FactSet Research Systems by 2.7% in the first quarter. Penobscot Investment Management Company Inc. now owns 1,270 shares of the business services provider’s stock valued at $209,000 after buying an additional 33 shares in the last quarter. Suntrust Banks Inc. raised its position in FactSet Research Systems by 4.0% in the first quarter. Suntrust Banks Inc. now owns 1,313 shares of the business services provider’s stock valued at $215,000 after buying an additional 50 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in FactSet Research Systems during the first quarter valued at approximately $238,000. 94.87% of the stock is currently owned by institutional investors.
FactSet Research Systems Company Profile
Factset Research Systems Inc is engaged in providing integrated financial information and big data analytical applications for the global investment community. The Company’s segments include the U.S., Europe and Asia Pacific. The U.S. segment services finance professionals, including financial institutions throughout the Americas.
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