FactSet Research Systems Inc. (FDS) Shares Sold by Credit Suisse AG
Credit Suisse AG decreased its position in FactSet Research Systems Inc. (NYSE:FDS) by 28.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,591 shares of the business services provider’s stock after selling 18,309 shares during the period. Credit Suisse AG’s holdings in FactSet Research Systems were worth $7,519,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. 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 worth $147,000 after buying an additional 132 shares during the period. Harfst & Associates Inc. bought a new position in FactSet Research Systems during the first quarter worth 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 worth $209,000 after buying an additional 33 shares during the period. 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 worth $215,000 after buying an additional 50 shares during the period. Finally, Quantbot Technologies LP bought a new position in FactSet Research Systems during the first quarter worth approximately $238,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.
FactSet Research Systems Inc. (FDS) opened at 162.44 on Tuesday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 18.94 and a beta of 0.95. FactSet Research Systems Inc. has a 52 week low of $150.95 and a 52 week high of $183.64. The stock has a 50 day moving average price of $164.58 and a 200 day moving average price of $168.66.
FactSet Research Systems (NYSE:FDS) last released its quarterly earnings results on Tuesday, June 27th. The business services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.01. The firm had revenue of $312.12 million for the quarter, compared to analysts’ expectations of $314.14 million. FactSet Research Systems had a net margin of 29.02% and a return on equity of 55.72%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. On average, equities analysts forecast that FactSet Research Systems Inc. will post $7.30 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Wednesday, May 31st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Friday, May 26th. This is a boost from FactSet Research Systems’s previous quarterly dividend of $0.50. FactSet Research Systems’s dividend payout ratio is currently 26.20%.
FactSet Research Systems declared that its board has approved a share buyback plan on Tuesday, March 28th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have commented on the company. Deutsche Bank AG assumed coverage on FactSet Research Systems in a research note on Wednesday, May 10th. They set a “hold” rating and a $160.00 price objective on the stock. Zacks Investment Research upgraded FactSet Research Systems from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. BidaskClub lowered FactSet Research Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. UBS AG restated a “buy” rating and set a $146.00 price objective (down previously from $150.00) on shares of FactSet Research Systems in a research note on Friday, June 9th. Finally, Credit Suisse Group raised their price objective on FactSet Research Systems from $179.00 to $185.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 29th. Three 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’s stock. The company has a consensus rating of “Hold” and a consensus target price of $166.27.
In related news, Director Philip A. Hadley sold 100,017 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $168.99, for a total value of $16,901,872.83. Following the transaction, the director now owns 761,436 shares of the company’s stock, valued at $128,675,069.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph E. Laird, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $166.00, for a total value 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. In the last three months, insiders sold 206,858 shares of company stock worth $34,453,143. 2.70% of the stock is owned by insiders.
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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