Zacks Investment Research downgraded 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.
According to Zacks, “The Global business information service provider, FactSet's shares has outperformed the industry to which it belongs to in the past one year. The company’s sustained focus on product innovation across segments with an emphasis on financial services to expand the customer base has helped keep afloat amid the current macroeconomic challenges. Moreover, the company’s acquisitions of Portware, Revere Data, Matrix Data, Code Red and BISAM Technologies S.A will enhance its product suite and help it evolve as a global financial database company. The share repurchase program is expected to support earnings in the long run apart from boosting shareholder value. However, increasing competition from Bloomberg, Dow Jones & Company, MSCI and Thomson Reuters, which are also coming up with substitute products at competitive prices, is a material headwind for the company.”
Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a hold rating and issued a $169.00 price target (up previously from $163.00) on shares of FactSet Research Systems in a report on Wednesday, September 27th. Morgan Stanley lifted their target price on FactSet Research Systems from $166.00 to $171.00 and gave the stock an equal weight rating in a report on Monday, October 23rd. BidaskClub downgraded FactSet Research Systems from a hold rating to a sell rating in a report on Thursday, August 10th. Credit Suisse Group reaffirmed an outperform rating and set a $200.00 target price (up previously from $190.00) on shares of FactSet Research Systems in a report on Wednesday, September 27th. Finally, Northcoast Research raised FactSet Research Systems from a neutral rating to a buy rating and set a $195.00 target price for the company in a report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. FactSet Research Systems currently has an average rating of Hold and a consensus price target of $172.73.
Shares of FactSet Research Systems (NYSE:FDS) traded down 2.48% during trading on Tuesday, reaching $185.16. The company’s stock had a trading volume of 503,263 shares. The stock has a market capitalization of $7.27 billion, a PE ratio of 28.44 and a beta of 0.98. The firm’s 50-day moving average is $177.25 and its 200-day moving average is $166.64. FactSet Research Systems has a 12-month low of $150.95 and a 12-month high of $190.99.
FactSet Research Systems (NYSE:FDS) last issued its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $326.60 million during the quarter, compared to the consensus estimate of $325.26 million. FactSet Research Systems had a return on equity of 55.76% and a net margin of 21.15%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $1.69 earnings per share. Equities analysts expect that FactSet Research Systems will post $8.19 earnings per share for the current year.
In related news, CEO Frederick Philip Snow sold 7,334 shares of FactSet Research Systems stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $181.24, for a total transaction of $1,329,214.16. Following the completion of the transaction, the chief executive officer now directly owns 11,262 shares in the company, valued at $2,041,124.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mark J. Hale sold 9,458 shares of FactSet Research Systems stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $180.34, for a total value of $1,705,655.72. Following the transaction, the chief operating officer now owns 11,314 shares of the company’s stock, valued at $2,040,366.76. The disclosure for this sale can be found here. Insiders have sold 17,841 shares of company stock valued at $3,224,739 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in FactSet Research Systems by 0.9% during the second quarter. Vanguard Group Inc. now owns 3,586,640 shares of the business services provider’s stock valued at $596,028,000 after acquiring an additional 32,331 shares in the last quarter. BlackRock Inc. raised its position in FactSet Research Systems by 0.3% during the second quarter. BlackRock Inc. now owns 3,159,707 shares of the business services provider’s stock valued at $525,082,000 after acquiring an additional 8,480 shares in the last quarter. State Street Corp raised its position in FactSet Research Systems by 1.9% during the first quarter. State Street Corp now owns 1,038,821 shares of the business services provider’s stock valued at $171,308,000 after acquiring an additional 19,591 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in FactSet Research Systems by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 629,613 shares of the business services provider’s stock valued at $104,629,000 after acquiring an additional 3,205 shares in the last quarter. Finally, Investec Asset Management LTD raised its position in FactSet Research Systems by 7.2% during the second quarter. Investec Asset Management LTD now owns 594,590 shares of the business services provider’s stock valued at $98,809,000 after acquiring an additional 39,872 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.
About FactSet Research Systems
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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