DA Davidson Raises FactSet Research Systems (NYSE:FDS) Price Target to $252.00

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FactSet Research Systems (NYSE:FDS) had its price objective raised by DA Davidson from $214.00 to $252.00 in a research report released on Monday morning, The Fly reports. The firm currently has a neutral rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of FactSet Research Systems from $211.00 to $220.00 and gave the stock an equal weight rating in a report on Wednesday, March 27th. Cantor Fitzgerald upped their price objective on shares of FactSet Research Systems from $209.00 to $240.00 and gave the stock a neutral rating in a report on Wednesday, March 27th. Barclays restated a hold rating and issued a $275.00 price objective on shares of FactSet Research Systems in a report on Monday, May 6th. Piper Jaffray Companies upped their price objective on shares of FactSet Research Systems from $211.00 to $262.00 and gave the stock a neutral rating in a report on Wednesday, March 27th. Finally, Deutsche Bank upped their price objective on shares of FactSet Research Systems from $217.00 to $245.00 and gave the stock a hold rating in a report on Wednesday, March 27th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $243.27.

Shares of FDS opened at $302.05 on Monday. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 2.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.45 and a current ratio of 2.45. FactSet Research Systems has a fifty-two week low of $188.31 and a fifty-two week high of $304.05.

FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.08. The business had revenue of $354.90 million for the quarter, compared to analysts’ expectations of $356.46 million. FactSet Research Systems had a net margin of 22.45% and a return on equity of 64.58%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 earnings per share. As a group, equities analysts predict that FactSet Research Systems will post 9.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, May 30th. This is an increase from FactSet Research Systems’s previous quarterly dividend of $0.64. FactSet Research Systems’s dividend payout ratio is currently 33.76%.

In other news, EVP Robert J. Robie sold 10,459 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $241.34, for a total value of $2,524,175.06. Following the transaction, the executive vice president now owns 4,331 shares in the company, valued at $1,045,243.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick Philip Snow sold 1,186 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $275.64, for a total transaction of $326,909.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,014 shares of company stock worth $3,476,129. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of FactSet Research Systems by 5.1% in the first quarter. BlackRock Inc. now owns 3,560,242 shares of the business services provider’s stock worth $883,900,000 after buying an additional 172,591 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FactSet Research Systems by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 421,037 shares of the business services provider’s stock worth $84,261,000 after buying an additional 16,651 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of FactSet Research Systems by 2.4% in the first quarter. Fiera Capital Corp now owns 381,749 shares of the business services provider’s stock worth $94,776,000 after buying an additional 8,909 shares in the last quarter. Northern Trust Corp lifted its stake in shares of FactSet Research Systems by 5.1% in the first quarter. Northern Trust Corp now owns 340,902 shares of the business services provider’s stock worth $84,636,000 after buying an additional 16,644 shares in the last quarter. Finally, Norges Bank bought a new position in shares of FactSet Research Systems in the fourth quarter worth approximately $49,705,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

About FactSet Research Systems

FactSet Research Systems Inc provides integrated financial information and analytical applications to the investment community in the United States, Europe, and the Asia Pacific. The company delivers insight and information to financial investment professionals through its analytics, services, contents, and technologies.

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