FactSet Research Systems (NYSE:FDS) Shares Down 7.4% – Here’s What Happened

FactSet Research Systems Inc. (NYSE:FDS)’s stock price dropped 7.4% during trading on Wednesday . The company traded as low as $199.44 and last traded at $199.8530. Approximately 162,291 shares traded hands during trading, a decline of 83% from the average daily volume of 959,145 shares. The stock had previously closed at $215.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FDS. UBS Group reduced their price target on shares of FactSet Research Systems from $425.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Bank of America began coverage on shares of FactSet Research Systems in a research report on Tuesday, February 17th. They set an “underperform” rating and a $195.00 price target on the stock. Wells Fargo & Company increased their price target on shares of FactSet Research Systems from $195.00 to $200.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced their price target on shares of FactSet Research Systems from $320.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of FactSet Research Systems in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $279.85.

FactSet Research Systems Stock Performance

The firm has a 50 day moving average of $219.13 and a two-hundred day moving average of $248.86. The stock has a market cap of $7.30 billion, a PE ratio of 12.86, a PEG ratio of 1.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.43 and a quick ratio of 1.43.

FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.46 EPS for the quarter, topping the consensus estimate of $4.37 by $0.09. FactSet Research Systems had a net margin of 24.48% and a return on equity of 30.25%. The firm had revenue of $611.02 million for the quarter, compared to analyst estimates of $604.78 million. During the same period last year, the business earned $4.28 EPS. FactSet Research Systems’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts predict that FactSet Research Systems Inc. will post 17.65 EPS for the current fiscal year.

FactSet Research Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 29th will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, May 29th. This represents a $4.64 dividend on an annualized basis and a yield of 2.3%. This is an increase from FactSet Research Systems’s previous quarterly dividend of $1.10. FactSet Research Systems’s dividend payout ratio (DPR) is currently 28.30%.

Institutional Trading of FactSet Research Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in FactSet Research Systems by 8.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 29,108 shares of the business services provider’s stock valued at $6,316,000 after buying an additional 2,216 shares during the period. Kinsale Capital Group Inc. increased its stake in FactSet Research Systems by 26.3% in the 1st quarter. Kinsale Capital Group Inc. now owns 22,418 shares of the business services provider’s stock valued at $4,864,000 after buying an additional 4,669 shares during the period. Aurora Investment Counsel increased its stake in FactSet Research Systems by 31.1% in the 1st quarter. Aurora Investment Counsel now owns 9,006 shares of the business services provider’s stock valued at $1,954,000 after buying an additional 2,139 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in FactSet Research Systems by 120.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,816 shares of the business services provider’s stock valued at $611,000 after buying an additional 1,537 shares during the period. Finally, Advisortrust Partners LLC acquired a new position in FactSet Research Systems in the 1st quarter valued at $271,000. 91.24% of the stock is owned by hedge funds and other institutional investors.

FactSet Research Systems Company Profile

FactSet Research Systems Inc operates as a global provider of integrated financial data and analytics to the investment community. Founded in 1978 and headquartered in Norwalk, Connecticut, the company offers a unified platform that aggregates content from thousands of sources, delivering real-time and historical market data, company fundamentals, estimates, fixed-income information and proprietary analytics to portfolio managers, research analysts, investment bankers and risk officers.

The company’s core products include the FactSet Workstation, an application offering customizable screening, charting, portfolio analysis and news; APIs and data feeds for seamless integration into proprietary systems; and cloud-based solutions for thematic research and quantitative strategies.