FactSet Research Systems Inc. (FDS) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “Estimates have been moving down lately for the global business information service provider, FactSet. Nonetheless, the company’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. However, the company’s lowered revenue guidance for fiscal 2016 during last quarter conference call makes us skeptical about its near-term performance. Also, competition from Bloomberg, Dow Jones & Company Inc., MSCI Inc. and Thomson Reuters, which are also coming up with substitute products at competitive prices, is a material headwind for the company.”
FDS has been the subject of several other reports. Cantor Fitzgerald reissued a hold rating on shares of FactSet Research Systems in a research note on Wednesday, June 29th. Credit Suisse Group AG assumed coverage on FactSet Research Systems in a research note on Monday, July 11th. They issued an outperform rating and a $182.00 price objective for the company. Morgan Stanley reissued a hold rating and issued a $161.00 price objective on shares of FactSet Research Systems in a research note on Thursday, June 30th. Barclays PLC increased their price objective on FactSet Research Systems from $160.00 to $175.00 and gave the stock an equal weight rating in a research note on Tuesday, August 23rd. Finally, Sterne Agee CRT reaffirmed a neutral rating on shares of FactSet Research Systems in a research note on Monday, May 16th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. FactSet Research Systems has an average rating of Hold and an average target price of $170.56.
FactSet Research Systems (NYSE:FDS) opened at 176.57 on Tuesday. FactSet Research Systems has a 12 month low of $135.95 and a 12 month high of $183.17. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 28.66 and a beta of 0.68. The firm has a 50 day moving average price of $175.51 and a 200-day moving average price of $160.78.
FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings data on Tuesday, June 28th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.03. The firm earned $287.50 million during the quarter. FactSet Research Systems had a return on equity of 47.11% and a net margin of 23.30%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share. On average, equities analysts forecast that FactSet Research Systems will post $6.40 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, August 29th. FactSet Research Systems’s dividend payout ratio is 32.47%.
In other FactSet Research Systems news, Director Joseph E. Laird, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $165.00, for a total value of $165,000.00. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at approximately $412,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in FactSet Research Systems by 37.7% in the second quarter. Penserra Capital Management LLC now owns 712 shares of the company’s stock worth $115,000 after buying an additional 195 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in FactSet Research Systems by 571.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 940 shares of the company’s stock worth $152,000 after buying an additional 800 shares during the period. Glenmede Trust Co. NA raised its stake in FactSet Research Systems by 1.1% in the second quarter. Glenmede Trust Co. NA now owns 1,142 shares of the company’s stock worth $184,000 after buying an additional 12 shares during the period. Southeast Asset Advisors Inc. acquired a new stake in FactSet Research Systems during the second quarter worth about $202,000. Finally, Wesbanco Bank Inc. acquired a new stake in FactSet Research Systems during the second quarter worth about $208,000. 94.31% of the stock is currently owned by hedge funds and other institutional investors.
About FactSet Research Systems
FactSet Research Systems Inc (FactSet) is a provider of integrated financial information and analytical applications to the global investment community. The Company operates through three segments based on geographic business activities: the U.S., Europe and Asia Pacific. Sales, consulting, data collection, product development and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals.
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