FactSet Research Systems Inc. (NYSE:FDS) shares traded down 6.1% during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $164.64 and last traded at $165.53, with a volume of 1,193,318 shares. The stock had previously closed at $176.19.
The company reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.70 by $0.01. The firm earned $287.30 million during the quarter. FactSet Research Systems had a net margin of 23.30% and a return on equity of 47.11%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Wednesday, August 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 29th. FactSet Research Systems’s payout ratio is presently 32.47%.
A number of research analysts have recently commented on the company. Cantor Fitzgerald restated a “hold” rating on shares of FactSet Research Systems in a research note on Wednesday, June 29th. Bank of America Corp. set a $185.00 target price on FactSet Research Systems and gave the company a “hold” rating in a research note on Thursday, September 15th. Zacks Investment Research upgraded FactSet Research Systems from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Raymond James Financial Inc. cut FactSet Research Systems from a “market perform” rating to an “underperform” rating in a research note on Tuesday. Finally, Credit Suisse Group AG began coverage on FactSet Research Systems in a research note on Monday, July 11th. They issued an “outperform” rating and a $182.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $170.22.
In other news, VP Matthew J. Mcnulty sold 1,000 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $167.50, for a total value of $167,500.00. Following the completion of the transaction, the vice president now owns 3,016 shares in the company, valued at $505,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC purchased a new stake in shares of FactSet Research Systems during the second quarter valued at approximately $3,009,000. Sterling Capital Management LLC raised its stake in shares of FactSet Research Systems by 0.8% in the second quarter. Sterling Capital Management LLC now owns 1,467 shares of the company’s stock valued at $237,000 after buying an additional 11 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of FactSet Research Systems by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 116,301 shares of the company’s stock valued at $18,774,000 after buying an additional 5,553 shares during the last quarter. Stifel Financial Corp raised its stake in shares of FactSet Research Systems by 9.6% in the second quarter. Stifel Financial Corp now owns 23,972 shares of the company’s stock valued at $3,870,000 after buying an additional 2,098 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of FactSet Research Systems by 36.6% in the second quarter. Amalgamated Bank now owns 7,003 shares of the company’s stock valued at $1,209,000 after buying an additional 1,875 shares during the last quarter. 92.87% of the stock is owned by institutional investors.
The stock has a market capitalization of $6.60 billion, a P/E ratio of 26.36 and a beta of 0.68. The company has a 50 day moving average of $176.21 and a 200 day moving average of $162.30.
FactSet Research Systems Company Profile
FactSet Research Systems Inc (FactSet) is a provider of integrated financial information and analytical applications to the global investment community. The Company operates through three segments based on geographic business activities: the U.S., Europe and Asia Pacific. Sales, consulting, data collection, product development and software engineering are the primary functional groups within the U.S., Europe and Asia Pacific segments that provide global financial and economic information to investment managers, investment banks and other financial services professionals.
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