FactSet Research Systems (NYSE:FDS) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

FactSet Research Systems (NYSE:FDSGet Rating) released its quarterly earnings data on Thursday. The business services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.20 by ($0.07), Briefing.com reports. The business had revenue of $499.30 million during the quarter, compared to analyst estimates of $487.95 million. FactSet Research Systems had a return on equity of 44.24% and a net margin of 22.41%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 EPS. FactSet Research Systems updated its FY23 guidance to $14.50-14.90 EPS.

FactSet Research Systems Stock Down 8.3 %

Shares of NYSE FDS opened at $394.75 on Friday. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 2.91 and a beta of 0.79. The company’s 50-day simple moving average is $431.55 and its 200-day simple moving average is $410.01. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.66. FactSet Research Systems has a 52-week low of $345.92 and a 52-week high of $495.39.

FactSet Research Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, August 30th. FactSet Research Systems’s dividend payout ratio is presently 34.94%.

Insider Buying and Selling

In related news, CEO Frederick Philip Snow sold 2,500 shares of FactSet Research Systems stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $424.92, for a total value of $1,062,300.00. Following the sale, the chief executive officer now directly owns 3,988 shares in the company, valued at approximately $1,694,580.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Jonathan Reeve sold 335 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $401.55, for a total transaction of $134,519.25. Following the completion of the sale, the executive vice president now owns 111 shares of the company’s stock, valued at $44,572.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick Philip Snow sold 2,500 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $424.92, for a total transaction of $1,062,300.00. Following the completion of the sale, the chief executive officer now owns 3,988 shares of the company’s stock, valued at $1,694,580.96. The disclosure for this sale can be found here. Insiders sold a total of 7,907 shares of company stock worth $3,164,207 in the last 90 days. Insiders own 0.83% of the company’s stock.

Institutional Trading of FactSet Research Systems

Several large investors have recently bought and sold shares of FDS. Eagle Bay Advisors LLC acquired a new position in shares of FactSet Research Systems during the 2nd quarter worth approximately $32,000. Covestor Ltd boosted its stake in FactSet Research Systems by 100.0% during the first quarter. Covestor Ltd now owns 332 shares of the business services provider’s stock worth $144,000 after buying an additional 166 shares during the last quarter. Maverick Capital Ltd. grew its holdings in FactSet Research Systems by 137.9% in the 1st quarter. Maverick Capital Ltd. now owns 464 shares of the business services provider’s stock valued at $201,000 after buying an additional 269 shares in the last quarter. Toroso Investments LLC acquired a new stake in shares of FactSet Research Systems in the 1st quarter worth $203,000. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of FactSet Research Systems during the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 90.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on FactSet Research Systems from $432.00 to $394.00 and set a “hold” rating for the company in a research note on Friday, June 24th. Credit Suisse Group reduced their price target on FactSet Research Systems from $475.00 to $390.00 and set a “neutral” rating for the company in a research report on Friday, June 24th. Barclays lowered their price objective on FactSet Research Systems from $550.00 to $440.00 and set an “overweight” rating on the stock in a research report on Friday, June 24th. StockNews.com cut shares of FactSet Research Systems from a “buy” rating to a “hold” rating in a research note on Sunday, June 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of FactSet Research Systems from $507.00 to $483.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, FactSet Research Systems has an average rating of “Hold” and a consensus price target of $418.75.

About FactSet Research Systems

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FactSet Research Systems Inc, a financial data and analytics 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.

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Earnings History for FactSet Research Systems (NYSE:FDS)

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