FactSet Research Systems Inc. (FDS) Stock Rating Upgraded by Zacks Investment Research
FactSet Research Systems Inc. (NYSE:FDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $187.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.91% from the company’s previous close.
According to Zacks, “FactSet is a leading provider of global online integrated data-related products and services for the investment community. The company’s consistent focus on adding clients, maintaining high client-retention ratio and increasing Annual Subscription Value (ASV) have been positive, going forward. Also, the company’s strategy of growing through acquisitions will continue to drive its overall performance. The share repurchase program is expected to support earnings in the long run apart from boosting shareholder value. The company is consistent with product innovation across its segments with special emphasis on financial services to gain customers. 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. Notably, FactSet has underperformed the industry in the last one year.”
Several other brokerages have also commented on FDS. Northcoast Research upgraded shares of FactSet Research Systems from a “neutral” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Thursday. BidaskClub lowered shares of FactSet Research Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and issued a $163.00 price target on shares of FactSet Research Systems in a research report on Tuesday, July 25th. Finally, UBS AG reaffirmed a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of FactSet Research Systems in a report on Friday, June 9th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $164.80.
Shares of FactSet Research Systems (FDS) traded up 0.87% on Friday, hitting $168.61. The company had a trading volume of 377,870 shares. The stock has a market cap of $6.61 billion, a PE ratio of 19.66 and a beta of 0.97. The company has a 50-day moving average of $160.34 and a 200 day moving average of $164.48. 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 issued its quarterly earnings results on Tuesday, June 27th. The business services provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.01. The business had revenue of $312.12 million during the quarter, compared to the consensus estimate of $314.14 million. FactSet Research Systems had a net margin of 29.02% and a return on equity of 55.72%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Analysts anticipate that FactSet Research Systems will post $7.30 EPS for the current fiscal year.
In other news, Director Philip A. Hadley sold 100,017 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $168.99, for a total value of $16,901,872.83. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip A. Hadley sold 5,983 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $165.55, for a total transaction of $990,485.65. Following the completion of the transaction, the director now directly owns 705,436 shares of the company’s stock, valued at approximately $116,784,929.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,784 shares of company stock worth $31,456,615. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Eads & Heald Investment Counsel raised its holdings in FactSet Research Systems by 0.9% in the 2nd quarter. Eads & Heald Investment Counsel now owns 2,358 shares of the business services provider’s stock valued at $392,000 after buying an additional 20 shares during the last quarter. FineMark National Bank & Trust increased its position in FactSet Research Systems by 1.0% during the 2nd quarter. FineMark National Bank & Trust now owns 2,183 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 22 shares during the period. World Asset Management Inc increased its position in FactSet Research Systems by 1.3% during the 2nd quarter. World Asset Management Inc now owns 2,847 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 36 shares during the period. NewFocus Financial Group LLC increased its position in FactSet Research Systems by 0.3% during the 2nd quarter. NewFocus Financial Group LLC now owns 13,120 shares of the business services provider’s stock valued at $2,180,000 after purchasing an additional 41 shares during the period. Finally, Suntrust Banks Inc. increased its position in FactSet Research Systems by 4.0% during the 1st quarter. Suntrust Banks Inc. now owns 1,313 shares of the business services provider’s stock valued at $215,000 after purchasing an additional 50 shares during the period. 93.72% of the stock is owned by hedge funds and other institutional investors.
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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