Zacks Investment Research upgraded shares of FactSet Research Systems (NYSE:FDS) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $237.00 target price on the business services provider’s stock.
According to Zacks, “FactSet’s sustained focus on bringing in new products 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. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has positive record of earnings surprises in recent quarters. Nonetheless, the company’s declining client-retention ratio remains a major a concern. It should be noted that a strong client-retention ratio signifies more stable revenues. Although, the company has been able to add new clients every quarter, but failing in retaining the old clients will negatively impact its near-term top-line growth. Notably, FactSet has underperformed the industry to which it belongs in the last one year.”
A number of other analysts also recently commented on the stock. Northcoast Research downgraded shares of FactSet Research Systems from a buy rating to a neutral rating in a report on Tuesday, December 5th. Oppenheimer reissued a hold rating on shares of FactSet Research Systems in a report on Tuesday, December 19th. DA Davidson started coverage on shares of FactSet Research Systems in a report on Thursday, December 14th. They set a neutral rating and a $174.00 price objective on the stock. Piper Jaffray Companies reissued a hold rating and set a $199.00 price objective on shares of FactSet Research Systems in a report on Thursday, December 21st. Finally, Wells Fargo set a $185.00 price objective on shares of FactSet Research Systems and gave the stock a hold rating in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $186.77.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Tuesday, February 27th. FactSet Research Systems’s dividend payout ratio (DPR) is presently 33.79%.
In other FactSet Research Systems news, COO Mark J. Hale sold 48,001 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $198.43, for a total value of $9,524,838.43. Following the sale, the chief operating officer now owns 6,268 shares of the company’s stock, valued at $1,243,759.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Mcgonigle sold 1,186 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $193.92, for a total transaction of $229,989.12. Following the completion of the sale, the director now directly owns 22,754 shares in the company, valued at approximately $4,412,455.68. The disclosure for this sale can be found here. Insiders sold 55,406 shares of company stock worth $10,957,561 in the last ninety days. Insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of FactSet Research Systems by 96.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,435 shares of the business services provider’s stock valued at $1,048,000 after purchasing an additional 2,672 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of FactSet Research Systems during the fourth quarter valued at approximately $569,000. Envestnet Asset Management Inc. lifted its stake in shares of FactSet Research Systems by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,111 shares of the business services provider’s stock valued at $3,683,000 after buying an additional 1,688 shares during the period. We Are One Seven LLC purchased a new position in shares of FactSet Research Systems during the fourth quarter valued at approximately $374,000. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in shares of FactSet Research Systems during the fourth quarter valued at approximately $208,000. 95.98% of the stock is currently owned by institutional investors.
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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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