FactSet Research Systems (NYSE:FDS) Shares Up 6.7% – Here’s Why

FactSet Research Systems Inc. (NYSE:FDS)’s share price was up 6.7% during mid-day trading on Friday . The company traded as high as $221.47 and last traded at $222.8930. 116,147 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 954,445 shares. The stock had previously closed at $208.84.

Analyst Ratings Changes

Several brokerages recently commented on FDS. The Goldman Sachs Group lowered shares of FactSet Research Systems from a “sell” rating to an “underweight” rating in a research report on Thursday, June 18th. UBS Group lowered their price objective on shares of FactSet Research Systems from $425.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Wells Fargo & Company boosted their price objective on shares of FactSet Research Systems from $195.00 to $200.00 and gave the company an “underweight” rating in a research note on Wednesday, April 1st. Rothschild & Co Redburn downgraded FactSet Research Systems from a “neutral” rating to a “sell” rating and set a $215.00 price objective for the company. in a report on Thursday, June 18th. Finally, Royal Bank Of Canada cut their target price on FactSet Research Systems from $243.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $267.69.

FactSet Research Systems Stock Up 11.1%

The stock has a fifty day moving average price of $230.82 and a 200-day moving average price of $239.48. The firm has a market cap of $8.45 billion, a PE ratio of 14.92, a PEG ratio of 1.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 1.43.

FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.46 EPS for the quarter, beating the consensus estimate of $4.37 by $0.09. FactSet Research Systems had a net margin of 24.48% and a return on equity of 30.25%. The firm had revenue of $611.02 million for the quarter, compared to analyst estimates of $604.78 million. During the same quarter last year, the firm posted $4.28 earnings per share. FactSet Research Systems’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts expect that FactSet Research Systems Inc. will post 17.66 EPS for the current year.

FactSet Research Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 29th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from FactSet Research Systems’s previous quarterly dividend of $1.10. FactSet Research Systems’s payout ratio is 29.84%.

Institutional Trading of FactSet Research Systems

A number of institutional investors have recently added to or reduced their stakes in FDS. Mattern Capital Management LLC raised its holdings in shares of FactSet Research Systems by 48.8% during the 4th quarter. Mattern Capital Management LLC now owns 30,391 shares of the business services provider’s stock valued at $8,819,000 after buying an additional 9,971 shares during the period. Heron Bay Capital Management lifted its position in FactSet Research Systems by 52.6% during the 3rd quarter. Heron Bay Capital Management now owns 55,359 shares of the business services provider’s stock worth $15,860,000 after acquiring an additional 19,072 shares in the last quarter. Element Squared LLC purchased a new position in FactSet Research Systems in the 4th quarter worth approximately $2,376,000. Citigroup Inc. boosted its holdings in FactSet Research Systems by 24.7% in the 3rd quarter. Citigroup Inc. now owns 57,843 shares of the business services provider’s stock worth $16,571,000 after acquiring an additional 11,455 shares during the period. Finally, Ticino Wealth purchased a new position in FactSet Research Systems in the 4th quarter worth approximately $1,946,000. 91.24% of the stock is owned by hedge funds and other institutional investors.

FactSet Research Systems Company Profile

FactSet Research Systems Inc operates as a global provider of integrated financial data and analytics to the investment community. Founded in 1978 and headquartered in Norwalk, Connecticut, the company offers a unified platform that aggregates content from thousands of sources, delivering real-time and historical market data, company fundamentals, estimates, fixed-income information and proprietary analytics to portfolio managers, research analysts, investment bankers and risk officers.

The company’s core products include the FactSet Workstation, an application offering customizable screening, charting, portfolio analysis and news; APIs and data feeds for seamless integration into proprietary systems; and cloud-based solutions for thematic research and quantitative strategies.