FactSet Research Systems (NYSE:FDS) Price Target Raised to $503.00

FactSet Research Systems (NYSE:FDS) had its target price increased by Wells Fargo & Company from $435.00 to $503.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

A number of other equities analysts also recently commented on FDS. UBS Group upped their price objective on shares of FactSet Research Systems from $455.00 to $485.00 and gave the stock a neutral rating in a research report on Friday. Jefferies Financial Group reduced their price objective on FactSet Research Systems from $455.00 to $378.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. Bank of America downgraded FactSet Research Systems from a neutral rating to an underperform rating and lowered their price objective for the company from $500.00 to $407.00 in a research report on Thursday, May 30th. Morgan Stanley increased their target price on FactSet Research Systems from $350.00 to $355.00 and gave the stock an underweight rating in a research report on Monday, June 24th. Finally, Royal Bank of Canada increased their price objective on shares of FactSet Research Systems from $464.00 to $503.00 and gave the stock a sector perform rating in a research report on Friday. Four research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $446.67.

FactSet Research Systems Stock Up 0.6 %

FDS stock opened at $468.80 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.79 and a current ratio of 1.28. The company’s 50 day moving average price is $422.47 and its 200 day moving average price is $428.08. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.64 and a beta of 0.75. FactSet Research Systems has a fifty-two week low of $391.84 and a fifty-two week high of $488.64.

FactSet Research Systems (NYSE:FDS) last posted its earnings results on Thursday, September 19th. The business services provider reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.12. The firm had revenue of $562.20 million for the quarter, compared to the consensus estimate of $547.06 million. FactSet Research Systems had a net margin of 23.56% and a return on equity of 34.48%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $2.93 EPS. On average, equities research analysts anticipate that FactSet Research Systems will post 16.28 EPS for the current fiscal year.

FactSet Research Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 30th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.16 annualized dividend and a dividend yield of 0.89%. FactSet Research Systems’s payout ratio is 31.37%.

Insider Buying and Selling

In related news, CEO Frederick Philip Snow sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $412.75, for a total transaction of $1,238,250.00. Following the completion of the transaction, the chief executive officer now owns 12,915 shares in the company, valued at approximately $5,330,666.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,000 shares of company stock worth $3,714,960 over the last ninety days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On FactSet Research Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of FactSet Research Systems by 2,873.9% in the 2nd quarter. Millennium Management LLC now owns 119,582 shares of the business services provider’s stock worth $48,822,000 after purchasing an additional 115,561 shares during the last quarter. Norges Bank acquired a new position in shares of FactSet Research Systems during the 4th quarter worth $47,977,000. PineStone Asset Management Inc. raised its holdings in FactSet Research Systems by 53.3% during the second quarter. PineStone Asset Management Inc. now owns 272,973 shares of the business services provider’s stock valued at $111,447,000 after buying an additional 94,952 shares in the last quarter. Norden Group LLC boosted its position in FactSet Research Systems by 1,844.5% during the first quarter. Norden Group LLC now owns 45,696 shares of the business services provider’s stock worth $20,761,000 after purchasing an additional 43,346 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in FactSet Research Systems by 21.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 235,387 shares of the business services provider’s stock worth $96,113,000 after acquiring an additional 41,717 shares during the period. 91.24% of the stock is owned by institutional investors.

About FactSet Research Systems

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.