FactSet Research Systems (NYSE:FDS) Releases Earnings Results

FactSet Research Systems (NYSE:FDSGet Rating) announced its earnings results on Thursday. The business services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.20 by ($0.07), Briefing.com reports. FactSet Research Systems had a return on equity of 44.24% and a net margin of 22.41%. The company had revenue of $499.30 million during the quarter, compared to the consensus estimate of $487.95 million. During the same period in the prior year, the firm posted $2.88 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis. FactSet Research Systems updated its FY23 guidance to $14.50-14.90 EPS.

FactSet Research Systems Stock Down 8.3 %

NYSE FDS opened at $394.75 on Friday. The stock’s 50-day moving average price is $431.55 and its 200-day moving average price is $410.01. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 1.66. FactSet Research Systems has a 52 week low of $345.92 and a 52 week high of $495.39. The company has a market capitalization of $14.99 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 2.91 and a beta of 0.79.

FactSet Research Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, August 30th. FactSet Research Systems’s dividend payout ratio (DPR) is currently 34.94%.

Insider Transactions at FactSet Research Systems

In related news, EVP Jonathan Reeve sold 335 shares of FactSet Research Systems stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $401.55, for a total transaction of $134,519.25. Following the sale, the executive vice president now owns 111 shares of the company’s stock, valued at approximately $44,572.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sheila B. Jordan sold 2,572 shares of FactSet Research Systems stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $391.15, for a total transaction of $1,006,037.80. Following the sale, the director now owns 177 shares of the company’s stock, valued at approximately $69,233.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Reeve sold 335 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $401.55, for a total value of $134,519.25. Following the transaction, the executive vice president now owns 111 shares of the company’s stock, valued at approximately $44,572.05. The disclosure for this sale can be found here. Insiders have sold 7,907 shares of company stock valued at $3,164,207 over the last quarter. 0.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FactSet Research Systems

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in FactSet Research Systems by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,298,111 shares of the business services provider’s stock valued at $1,866,025,000 after buying an additional 52,604 shares in the last quarter. State Street Corp boosted its holdings in FactSet Research Systems by 1.7% during the 1st quarter. State Street Corp now owns 1,988,080 shares of the business services provider’s stock valued at $863,125,000 after acquiring an additional 32,550 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in FactSet Research Systems by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 310,417 shares of the business services provider’s stock valued at $134,768,000 after acquiring an additional 7,758 shares during the period. Invesco Ltd. boosted its holdings in FactSet Research Systems by 10.7% during the 1st quarter. Invesco Ltd. now owns 266,589 shares of the business services provider’s stock valued at $115,741,000 after acquiring an additional 25,849 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in FactSet Research Systems by 27.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 200,958 shares of the business services provider’s stock valued at $77,282,000 after acquiring an additional 42,946 shares during the period. Hedge funds and other institutional investors own 90.38% of the company’s stock.

Analyst Ratings Changes

FDS has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of FactSet Research Systems from $432.00 to $394.00 and set a “hold” rating for the company in a report on Friday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of FactSet Research Systems from $507.00 to $483.00 in a research report on Friday. Morgan Stanley decreased their price target on shares of FactSet Research Systems from $362.00 to $338.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 21st. StockNews.com downgraded shares of FactSet Research Systems from a “buy” rating to a “hold” rating in a research note on Sunday, June 26th. Finally, Barclays dropped their price objective on shares of FactSet Research Systems from $550.00 to $440.00 and set an “overweight” rating for the company in a report on Friday, June 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, FactSet Research Systems currently has an average rating of “Hold” and a consensus price target of $418.75.

About FactSet Research Systems

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FactSet Research Systems Inc, a financial data and analytics 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.

Further Reading

Earnings History for FactSet Research Systems (NYSE:FDS)

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