FactSet Research Systems (NYSE:FDS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $237.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.50% from the company’s previous close.
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.”
FDS has been the subject of several other reports. Northcoast Research lowered FactSet Research Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 5th. Morgan Stanley boosted their price objective on FactSet Research Systems from $179.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Wells Fargo set a $185.00 price objective on FactSet Research Systems and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reiterated a “hold” rating and set a $199.00 price objective on shares of FactSet Research Systems in a research note on Thursday, December 21st. Finally, DA Davidson boosted their price objective on FactSet Research Systems to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $186.77.
FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings data on Tuesday, December 19th. The business services provider reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.06. FactSet Research Systems had a return on equity of 54.65% and a net margin of 20.76%. The company had revenue of $329.10 million during the quarter, compared to analyst estimates of $330.49 million. During the same period in the previous year, the business earned $1.75 EPS. FactSet Research Systems’s quarterly revenue was up 14.2% on a year-over-year basis. equities analysts anticipate that FactSet Research Systems will post 8.4 earnings per share for the current year.
In other news, VP Matthew J. Mcnulty sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $192.70, for a total value of $269,780.00. Following the completion of the sale, the vice president now directly owns 3,248 shares in the company, valued at $625,889.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott A. Billeadeau sold 2,419 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $192.30, for a total value of $465,173.70. Following the completion of the sale, the director now owns 4,419 shares of the company’s stock, valued at $849,773.70. The disclosure for this sale can be found here. Insiders sold 55,406 shares of company stock valued at $10,957,561 over the last 90 days. Company insiders own 2.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its position in 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 worth $1,048,000 after acquiring an additional 2,672 shares during the period. Xact Kapitalforvaltning AB purchased a new position in FactSet Research Systems in the fourth quarter worth approximately $569,000. Envestnet Asset Management Inc. grew its position in FactSet Research Systems by 9.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,111 shares of the business services provider’s stock worth $3,683,000 after acquiring an additional 1,688 shares during the period. We Are One Seven LLC purchased a new position in FactSet Research Systems in the fourth quarter worth approximately $374,000. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in FactSet Research Systems in the fourth quarter worth approximately $208,000. Institutional investors own 95.98% of the company’s stock.
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.
Receive News & Ratings for FactSet Research Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FactSet Research Systems and related companies with MarketBeat.com's FREE daily email newsletter.