Wells Fargo & Company Cuts FactSet Research Systems (NYSE:FDS) Price Target to $260.00

FactSet Research Systems (NYSE:FDS) had its target price decreased by Wells Fargo & Company from $296.00 to $260.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 9.27% from the company’s current price.

FDS has been the subject of a number of other research reports. BMO Capital Markets reduced their price target on FactSet Research Systems from $452.00 to $324.00 and set a “market perform” rating for the company in a report on Friday, September 19th. Wolfe Research reaffirmed an “underperform” rating and issued a $290.00 price objective on shares of FactSet Research Systems in a research report on Friday, November 14th. Zacks Research lowered FactSet Research Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 23rd. Stifel Nicolaus dropped their price target on FactSet Research Systems from $464.00 to $372.00 and set a “hold” rating on the stock in a research note on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FactSet Research Systems in a research report on Monday. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, FactSet Research Systems presently has an average rating of “Reduce” and an average price target of $346.50.

FactSet Research Systems Stock Up 2.7%

Shares of NYSE:FDS traded up $7.66 during midday trading on Friday, hitting $286.58. The stock had a trading volume of 130,826 shares, compared to its average volume of 478,024. The company has a market cap of $10.72 billion, a P/E ratio of 18.43, a PEG ratio of 2.86 and a beta of 0.75. FactSet Research Systems has a 12 month low of $250.50 and a 12 month high of $496.90. The business’s 50-day simple moving average is $277.80 and its 200-day simple moving average is $361.15. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.63.

FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings results on Wednesday, September 17th. The business services provider reported $4.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.13 by ($0.08). FactSet Research Systems had a return on equity of 31.06% and a net margin of 25.72%.The firm had revenue of $596.90 million for the quarter, compared to the consensus estimate of $593.32 million. During the same period last year, the company posted $3.74 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that FactSet Research Systems will post 17.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FactSet Research Systems news, insider Christopher Mcloughlin purchased 338 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were acquired at an average cost of $296.19 per share, for a total transaction of $100,112.22. Following the completion of the purchase, the insider owned 3,446 shares of the company’s stock, valued at approximately $1,020,670.74. The trade was a 10.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Helen L. Shan purchased 370 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were acquired at an average cost of $275.48 per share, for a total transaction of $101,927.60. Following the completion of the transaction, the executive vice president owned 9,284 shares of the company’s stock, valued at $2,557,556.32. This trade represents a 4.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,208 shares of company stock worth $328,505 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On FactSet Research Systems

Several institutional investors have recently made changes to their positions in the stock. Truist Financial Corp lifted its position in FactSet Research Systems by 0.5% during the second quarter. Truist Financial Corp now owns 22,313 shares of the business services provider’s stock worth $9,980,000 after purchasing an additional 114 shares during the period. Vest Financial LLC increased its holdings in FactSet Research Systems by 8.8% in the 2nd quarter. Vest Financial LLC now owns 125,526 shares of the business services provider’s stock valued at $56,145,000 after buying an additional 10,172 shares during the period. PineStone Asset Management Inc. raised its position in shares of FactSet Research Systems by 8.8% in the 2nd quarter. PineStone Asset Management Inc. now owns 380,459 shares of the business services provider’s stock valued at $170,172,000 after buying an additional 30,881 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of FactSet Research Systems by 14.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,690 shares of the business services provider’s stock worth $6,569,000 after acquiring an additional 1,810 shares during the period. Finally, J. W. Coons Advisors LLC lifted its holdings in shares of FactSet Research Systems by 139.8% during the 2nd quarter. J. W. Coons Advisors LLC now owns 3,465 shares of the business services provider’s stock worth $1,550,000 after acquiring an additional 2,020 shares during the period. 91.24% of the stock is currently 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.