FactSet Research Systems Inc. (FDS) Downgraded by Zacks Investment Research
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.”
A number of other analysts have also issued reports on the stock. Credit Suisse Group AG assumed coverage on shares of FactSet Research Systems in a research note on Sunday, November 20th. They set an outperform rating and a $179.00 price objective on the stock. Goldman Sachs Group Inc. restated a sell rating and issued a $125.00 price target (up previously from $124.00) on shares of FactSet Research Systems in a research note on Friday, September 30th. Oppenheimer Holdings Inc. restated a market perform rating on shares of FactSet Research Systems in a research note on Wednesday, September 28th. Morgan Stanley set a $161.00 price target on shares of FactSet Research Systems and gave the stock a hold rating in a research note on Wednesday, September 28th. Finally, Raymond James Financial Inc. lowered shares of FactSet Research Systems from a market perform rating to an underperform rating in a research note on Tuesday, September 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $169.67.
Shares of FactSet Research Systems (NYSE:FDS) opened at 160.17 on Monday. The firm has a market cap of $6.40 billion, a PE ratio of 19.56 and a beta of 0.74. The stock has a 50 day moving average of $157.14 and a 200 day moving average of $164.29. FactSet Research Systems has a 1-year low of $135.95 and a 1-year high of $183.17.
FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by $0.01. The firm had revenue of $287.30 million for the quarter. FactSet Research Systems had a net margin of 30.06% and a return on equity of 48.65%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Equities research analysts anticipate that FactSet Research Systems will post $7.03 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, November 28th. FactSet Research Systems’s dividend payout ratio (DPR) is 24.30%.
In other news, SVP Rachel Rebecca Stern sold 1,065 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 978 shares of the company’s stock, valued at $155,296.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick Philip Snow sold 6,250 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $158.22, for a total transaction of $988,875.00. Following the transaction, the chief executive officer now directly owns 10,551 shares of the company’s stock, valued at approximately $1,669,379.22. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its stake in FactSet Research Systems by 37.7% in the second quarter. Penserra Capital Management LLC now owns 712 shares of the company’s stock valued at $115,000 after buying an additional 195 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in FactSet Research Systems by 571.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 940 shares of the company’s stock valued at $152,000 after buying an additional 800 shares during the last quarter. Glenmede Trust Co. NA increased its stake in FactSet Research Systems by 1.1% in the second quarter. Glenmede Trust Co. NA now owns 1,142 shares of the company’s stock valued at $184,000 after buying an additional 12 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in FactSet Research Systems by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,210 shares of the company’s stock valued at $196,000 after buying an additional 156 shares during the last quarter. Finally, Southeast Asset Advisors Inc. bought a new stake in FactSet Research Systems during the second quarter valued at $202,000. 94.75% of the stock is owned by institutional investors.
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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