Zacks Investment Research Upgrades FactSet Research Systems Inc. (FDS) to Hold

FactSet Research Systems Inc. (NYSE:FDS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, June 29th.

According to Zacks, “FactSet recently reported mixed results for the third quarter wherein the bottom-line came ahead of the Zacks Consensus Estimate but the top-line missed the same. Nonetheless, we are encouraged by favorable year-over-year comparisons on both counts as well as an impressive guidance for the fourth quarter. FactSet’s sustained focus on product innovation across segments with an emphasis on financial services to expand the customer base has helped keep afloat amid the current macroeconomic challenges. Moreover, its strategy of growing through acquisitions is praiseworthy. 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 Zacks categorized Business Information Services industry in the last one year.”

A number of other equities research analysts have also recently issued reports on FDS. UBS AG restated a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of FactSet Research Systems in a research note on Friday, June 9th. Credit Suisse Group boosted their price objective on FactSet Research Systems from $179.00 to $185.00 and gave the company an “outperform” rating in a research note on Wednesday, March 29th. BidaskClub cut FactSet Research Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Stifel Nicolaus restated a “hold” rating and issued a $163.00 price objective on shares of FactSet Research Systems in a research report on Tuesday, April 25th. Finally, Deutsche Bank AG started coverage on shares of FactSet Research Systems in a research report on Wednesday, May 10th. They issued a “hold” rating and a $160.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $166.27.

Shares of FactSet Research Systems (FDS) traded up 0.15% during mid-day trading on Thursday, reaching $164.99. 273,524 shares of the company were exchanged. The firm has a 50-day moving average price of $165.59 and a 200 day moving average price of $168.46. The stock has a market capitalization of $6.47 billion, a P/E ratio of 19.24 and a beta of 0.95. 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.01. The company had revenue of $312.12 million for 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 period in the previous year, the firm earned $1.64 EPS. Equities research analysts anticipate that FactSet Research Systems will post $7.30 EPS for the current fiscal year.

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In related news, Director Joseph E. Laird, Jr. sold 1,000 shares of FactSet Research Systems stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $166.00, for a total value of $166,000.00. Following the completion of the sale, the director now directly owns 9,000 shares in the company, valued at approximately $1,494,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Philip A. Hadley sold 5,983 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $165.55, for a total value of $990,485.65. Following the completion of the transaction, the director now directly owns 705,436 shares in the company, valued at $116,784,929.80. The disclosure for this sale can be found here. Insiders have sold 206,858 shares of company stock valued at $34,453,143 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in FactSet Research Systems during the first quarter worth about $444,000. Creative Planning increased its position in FactSet Research Systems by 5.7% in the first quarter. Creative Planning now owns 1,880 shares of the business services provider’s stock valued at $310,000 after buying an additional 102 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in FactSet Research Systems during the first quarter valued at $1,026,000. Bath Savings Trust Co increased its position in FactSet Research Systems by 1.8% in the first quarter. Bath Savings Trust Co now owns 52,738 shares of the business services provider’s stock valued at $8,697,000 after buying an additional 944 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in FactSet Research Systems by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 39,366 shares of the business services provider’s stock valued at $6,434,000 after buying an additional 1,654 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors and hedge funds.

FactSet Research Systems Company Profile

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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