FactSet Research Systems (NYSE:FDS) Releases Earnings Results, Misses Estimates By $0.07 EPS

FactSet Research Systems (NYSE:FDSGet Rating) posted its quarterly earnings results on Thursday. The business services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.20 by ($0.07), Briefing.com reports. FactSet Research Systems had a net margin of 22.41% and a return on equity of 44.24%. The business had revenue of $499.30 million for the quarter, compared to analyst estimates of $487.95 million. During the same period in the previous year, the firm posted $2.88 earnings per share. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. FactSet Research Systems updated its FY23 guidance to $14.50-14.90 EPS.

FactSet Research Systems Stock Performance

NYSE:FDS opened at $394.75 on Friday. The firm has a market capitalization of $14.99 billion, a PE ratio of 38.74, a PEG ratio of 2.91 and a beta of 0.79. FactSet Research Systems has a 1 year low of $345.92 and a 1 year high of $495.39. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 1.66. The firm’s fifty day simple moving average is $431.55 and its 200 day simple moving average is $410.01.

FactSet Research Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Tuesday, August 30th. FactSet Research Systems’s payout ratio is 34.94%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FDS shares. Barclays decreased their price target on shares of FactSet Research Systems from $550.00 to $440.00 and set an “overweight” rating for the company in a report on Friday, June 24th. StockNews.com downgraded shares of FactSet Research Systems from a “buy” rating to a “hold” rating in a research note on Sunday, June 26th. Credit Suisse Group cut their price objective on FactSet Research Systems from $475.00 to $390.00 and set a “neutral” rating for the company in a report on Friday, June 24th. Deutsche Bank Aktiengesellschaft dropped their target price on FactSet Research Systems from $507.00 to $483.00 in a research report on Friday. Finally, Royal Bank of Canada raised their price target on FactSet Research Systems from $475.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $418.75.

Insider Buying and Selling

In other news, CEO Frederick Philip Snow sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $384.54, for a total value of $961,350.00. Following the sale, the chief executive officer now directly owns 3,988 shares of the company’s stock, valued at $1,533,545.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Frederick Philip Snow sold 2,500 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $384.54, for a total transaction of $961,350.00. Following the completion of the transaction, the chief executive officer now directly owns 3,988 shares in the company, valued at approximately $1,533,545.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila B. Jordan sold 2,572 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $391.15, for a total transaction of $1,006,037.80. Following the completion of the sale, the director now directly owns 177 shares of the company’s stock, valued at $69,233.55. The disclosure for this sale can be found here. Insiders have sold 7,907 shares of company stock worth $3,164,207 in the last quarter. 0.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FactSet Research Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its position in shares of FactSet Research Systems by 49.5% during the first quarter. Vontobel Holding Ltd. now owns 1,051 shares of the business services provider’s stock valued at $463,000 after purchasing an additional 348 shares during the period. Verition Fund Management LLC acquired a new position in shares of FactSet Research Systems in the 1st quarter valued at $430,000. KB Financial Partners LLC lifted its holdings in shares of FactSet Research Systems by 16.6% during the 1st quarter. KB Financial Partners LLC now owns 920 shares of the business services provider’s stock worth $399,000 after acquiring an additional 131 shares during the period. Prudential PLC acquired a new stake in shares of FactSet Research Systems during the 1st quarter valued at about $389,000. Finally, Cibc World Market Inc. increased its stake in FactSet Research Systems by 4.2% in the first quarter. Cibc World Market Inc. now owns 897 shares of the business services provider’s stock valued at $389,000 after acquiring an additional 36 shares during the period. 90.38% of the stock is currently owned by institutional investors.

FactSet Research Systems Company Profile

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FactSet Research Systems Inc, a financial data and analytics company, provides integrated financial information and analytical applications to the investment community in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company delivers insight and information through the workflow solutions of research, analytics and trading, content and technology solutions, and wealth.

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Earnings History for FactSet Research Systems (NYSE:FDS)

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