FactSet Research Systems (NYSE:FDS) Issues Quarterly Earnings Results, Beats Estimates By $0.46 EPS

FactSet Research Systems (NYSE:FDSGet Free Report) released its earnings results on Friday. The business services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.91 by $0.46, Briefing.com reports. The firm had revenue of $552.70 million for the quarter, compared to analysts’ expectations of $552.71 million. FactSet Research Systems had a net margin of 22.72% and a return on equity of 34.36%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.79 earnings per share. FactSet Research Systems updated its FY 2024 guidance to 16.000-16.400 EPS and its FY24 guidance to $16.00-16.40 EPS.

FactSet Research Systems Stock Down 0.4 %

Shares of FactSet Research Systems stock opened at $422.07 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.79 and a quick ratio of 1.79. The company has a 50-day moving average of $423.68 and a 200 day moving average of $448.28. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.65 and a beta of 0.74. FactSet Research Systems has a 1 year low of $385.27 and a 1 year high of $488.64.

FactSet Research Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were issued a $1.04 dividend. The ex-dividend date was Friday, May 31st. This is a positive change from FactSet Research Systems’s previous quarterly dividend of $0.98. This represents a $4.16 annualized dividend and a yield of 0.99%. FactSet Research Systems’s dividend payout ratio is 32.94%.

Insider Buying and Selling

In other FactSet Research Systems news, CEO Frederick Philip Snow sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $452.10, for a total transaction of $1,356,300.00. Following the completion of the sale, the chief executive officer now directly owns 12,915 shares in the company, valued at approximately $5,838,871.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Goran Skoko sold 4,106 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $428.57, for a total value of $1,759,708.42. Following the transaction, the executive vice president now owns 5,262 shares of the company’s stock, valued at $2,255,135.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederick Philip Snow sold 3,000 shares of FactSet Research Systems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $452.10, for a total transaction of $1,356,300.00. Following the transaction, the chief executive officer now directly owns 12,915 shares in the company, valued at approximately $5,838,871.50. The disclosure for this sale can be found here. Insiders sold a total of 23,987 shares of company stock worth $10,283,347 in the last three months. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FDS has been the topic of several research reports. Barclays reissued an “equal weight” rating and issued a $460.00 price target (down previously from $480.00) on shares of FactSet Research Systems in a research report on Friday, March 22nd. Wolfe Research assumed coverage on shares of FactSet Research Systems in a report on Thursday, April 11th. They issued an “underperform” rating and a $430.00 price target on the stock. Bank of America lowered shares of FactSet Research Systems from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $500.00 to $407.00 in a report on Thursday, May 30th. The Goldman Sachs Group upped their price objective on shares of FactSet Research Systems from $377.00 to $419.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley dropped their price target on shares of FactSet Research Systems from $372.00 to $350.00 and set an “underweight” rating for the company in a research report on Monday, June 3rd. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $431.50.

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FactSet Research Systems Company Profile

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FactSet Research Systems Inc, a financial data 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.

See Also

Earnings History for FactSet Research Systems (NYSE:FDS)

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