Drive Wealth Management LLC Acquires Shares of 465 FactSet Research Systems Inc. (NYSE:FDS)

Drive Wealth Management LLC bought a new position in shares of FactSet Research Systems Inc. (NYSE:FDS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 465 shares of the business services provider’s stock, valued at approximately $214,000.

Several other hedge funds also recently made changes to their positions in the business. Millennium Management LLC grew its position in FactSet Research Systems by 2,873.9% during the second quarter. Millennium Management LLC now owns 119,582 shares of the business services provider’s stock worth $48,822,000 after buying an additional 115,561 shares in the last quarter. PineStone Asset Management Inc. grew its holdings in shares of FactSet Research Systems by 53.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 272,973 shares of the business services provider’s stock worth $111,447,000 after purchasing an additional 94,952 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of FactSet Research Systems in the third quarter worth $38,909,000. Dimensional Fund Advisors LP raised its stake in FactSet Research Systems by 21.5% in the second quarter. Dimensional Fund Advisors LP now owns 235,387 shares of the business services provider’s stock valued at $96,113,000 after purchasing an additional 41,717 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in FactSet Research Systems by 9.3% during the third quarter. Boston Trust Walden Corp now owns 296,329 shares of the business services provider’s stock worth $136,267,000 after purchasing an additional 25,294 shares during the period. 91.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FDS shares. BMO Capital Markets boosted their target price on shares of FactSet Research Systems from $471.00 to $521.00 and gave the company a “market perform” rating in a research report on Friday. Redburn Atlantic downgraded FactSet Research Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $420.00 to $380.00 in a report on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $503.00 price target on shares of FactSet Research Systems in a report on Friday. Evercore ISI began coverage on FactSet Research Systems in a research report on Wednesday, October 2nd. They set an “inline” rating and a $470.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on FactSet Research Systems from $435.00 to $503.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Five research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, FactSet Research Systems presently has an average rating of “Hold” and a consensus price target of $450.00.

Insider Buying and Selling

In other news, insider John Costigan sold 1,622 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $481.00, for a total value of $780,182.00. Following the completion of the sale, the insider now directly owns 299 shares in the company, valued at $143,819. This trade represents a 84.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frederick Philip Snow sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $416.59, for a total value of $1,249,770.00. Following the transaction, the chief executive officer now directly owns 12,915 shares in the company, valued at approximately $5,380,259.85. This trade represents a 18.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,984 shares of company stock valued at $12,230,877 over the last quarter. Insiders own 1.10% of the company’s stock.

FactSet Research Systems Stock Performance

Shares of FactSet Research Systems stock opened at $485.93 on Tuesday. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 3.20 and a beta of 0.75. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.65. FactSet Research Systems Inc. has a twelve month low of $391.84 and a twelve month high of $499.87. The company’s fifty day moving average is $462.74 and its 200 day moving average is $434.23.

FactSet Research Systems (NYSE:FDS) last issued its quarterly earnings data on Thursday, September 19th. The business services provider reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.12. The company had revenue of $562.20 million during the quarter, compared to the consensus estimate of $547.06 million. FactSet Research Systems had a return on equity of 34.77% and a net margin of 24.38%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. Sell-side analysts forecast that FactSet Research Systems Inc. will post 17.2 EPS for the current year.

FactSet Research Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, November 29th. FactSet Research Systems’s dividend payout ratio (DPR) is presently 29.93%.

FactSet Research Systems Profile

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.