FactSet Research Systems Inc. (FDS) Rating Increased to Buy at Zacks Investment Research
FactSet Research Systems Inc. (NYSE:FDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $187.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.91% from the company’s current price.
According to Zacks, “FactSet is a leading provider of global online integrated data-related products and services for the investment community. The company’s consistent focus on adding clients, maintaining high client-retention ratio and increasing Annual Subscription Value (ASV) have been positive, going forward. Also, the company’s strategy of growing through acquisitions will continue to drive its overall performance. The share repurchase program is expected to support earnings in the long run apart from boosting shareholder value. The company is consistent with product innovation across its segments with special emphasis on financial services to gain customers. 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 industry in the last one year.”
A number of other analysts have also recently commented on the stock. Northcoast Research upgraded shares of FactSet Research Systems from a “neutral” rating to a “buy” rating and set a $195.00 price objective for the company in a research report on Thursday. BidaskClub cut shares of FactSet Research Systems from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Stifel Nicolaus reiterated a “hold” rating and set a $163.00 target price on shares of FactSet Research Systems in a report on Tuesday, July 25th. Finally, UBS AG reiterated a “buy” rating and set a $146.00 target price (down previously from $150.00) on shares of FactSet Research Systems in a report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. FactSet Research Systems currently has an average rating of “Hold” and a consensus target price of $164.80.
Shares of FactSet Research Systems (NYSE:FDS) opened at 168.61 on Friday. The stock has a 50 day moving average price of $160.34 and a 200 day moving average price of $164.48. The firm has a market cap of $6.61 billion, a PE ratio of 19.66 and a beta of 0.97. 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 released its quarterly earnings data on Tuesday, June 27th. The business services provider reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.01. FactSet Research Systems had a net margin of 29.02% and a return on equity of 55.72%. The business had revenue of $312.12 million during the quarter, compared to analysts’ expectations of $314.14 million. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that FactSet Research Systems will post $7.30 EPS for the current year.
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In other news, Director Philip A. Hadley sold 100,017 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $168.99, for a total transaction of $16,901,872.83. Following the completion of the transaction, the director now directly owns 761,436 shares in the company, valued at approximately $128,675,069.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip A. Hadley sold 43,842 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $163.87, for a total transaction of $7,184,388.54. Following the transaction, the director now owns 666,494 shares of the company’s stock, valued at $109,218,371.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,784 shares of company stock valued at $31,456,615. Corporate insiders own 2.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Eads & Heald Investment Counsel boosted its stake in shares of FactSet Research Systems by 0.9% during the 2nd quarter. Eads & Heald Investment Counsel now owns 2,358 shares of the business services provider’s stock worth $392,000 after buying an additional 20 shares during the last quarter. FineMark National Bank & Trust boosted its stake in shares of FactSet Research Systems by 1.0% during the 2nd quarter. FineMark National Bank & Trust now owns 2,183 shares of the business services provider’s stock worth $363,000 after buying an additional 22 shares during the last quarter. World Asset Management Inc boosted its stake in shares of FactSet Research Systems by 1.3% during the 2nd quarter. World Asset Management Inc now owns 2,847 shares of the business services provider’s stock worth $473,000 after buying an additional 36 shares during the last quarter. NewFocus Financial Group LLC boosted its stake in shares of FactSet Research Systems by 0.3% during the 2nd quarter. NewFocus Financial Group LLC now owns 13,120 shares of the business services provider’s stock worth $2,180,000 after buying an additional 41 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of FactSet Research Systems by 4.0% during the 1st quarter. Suntrust Banks Inc. now owns 1,313 shares of the business services provider’s stock worth $215,000 after buying an additional 50 shares during the last quarter. Institutional investors own 93.72% of the company’s stock.
About FactSet Research Systems
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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