FactSet Research Systems (NYSE:FDS) Updates FY24 Earnings Guidance

FactSet Research Systems (NYSE:FDS) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $16.00-16.40 for the period, compared to the consensus earnings per share estimate of $16.27. The company issued revenue guidance of $2.18-2.19 billion, compared to the consensus revenue estimate of $2.19 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on FactSet Research Systems from $377.00 to $419.00 and gave the stock a sell rating in a research report on Friday, March 22nd. Stifel Nicolaus restated a hold rating and set a $469.00 price objective on shares of FactSet Research Systems in a research report on Friday, March 22nd. Royal Bank of Canada restated a sector perform rating and set a $464.00 price objective on shares of FactSet Research Systems in a research report on Monday, June 24th. Jefferies Financial Group lowered their price objective on FactSet Research Systems from $455.00 to $378.00 and set a hold rating for the company in a research report on Wednesday, June 5th. Finally, Bank of America downgraded FactSet Research Systems from a neutral rating to an underperform rating and lowered their target price for the stock from $500.00 to $407.00 in a report on Thursday, May 30th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $432.00.

FactSet Research Systems Trading Up 1.2 %

Shares of FactSet Research Systems stock opened at $416.01 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.79 and a current ratio of 1.28. FactSet Research Systems has a 52 week low of $385.27 and a 52 week high of $488.64. The stock has a 50 day moving average price of $421.82 and a two-hundred day moving average price of $446.53. The stock has a market capitalization of $15.86 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.43 and a beta of 0.75.

FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings data on Friday, June 21st. The business services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.91 by $0.46. FactSet Research Systems had a return on equity of 34.48% and a net margin of 23.56%. The firm had revenue of $552.70 million during the quarter, compared to analysts’ expectations of $552.71 million. During the same quarter last year, the firm posted $3.79 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that FactSet Research Systems will post 16.33 earnings per share for the current fiscal year.

FactSet Research Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were given a dividend of $1.04 per share. This is a boost from FactSet Research Systems’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.16 annualized dividend and a dividend yield of 1.00%. FactSet Research Systems’s payout ratio is presently 31.37%.

Insider Activity at FactSet Research Systems

In related news, CEO Frederick Philip Snow sold 3,000 shares of FactSet Research Systems stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $400.00, for a total transaction of $1,200,000.00. Following the transaction, the chief executive officer now owns 12,915 shares of the company’s stock, valued at $5,166,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FactSet Research Systems news, EVP Goran Skoko sold 4,106 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $428.57, for a total value of $1,759,708.42. Following the transaction, the executive vice president now owns 5,262 shares of the company’s stock, valued at $2,255,135.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick Philip Snow sold 3,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $400.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,915 shares in the company, valued at approximately $5,166,000. The disclosure for this sale can be found here. Insiders have sold a total of 27,419 shares of company stock valued at $11,606,013 over the last 90 days. Insiders own 1.00% of the company’s stock.

FactSet Research Systems Company Profile

FactSet Research Systems Inc, a financial data 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.