FactSet Research Systems (NYSE:FDS) Downgraded by Wells Fargo & Company to Underweight

Wells Fargo & Company lowered shares of FactSet Research Systems (NYSE:FDS) from an equal weight rating to an underweight rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $402.00 price objective on the business services provider’s stock, down from their previous price objective of $450.00.

A number of other brokerages have also issued reports on FDS. Stifel Nicolaus upped their price objective on shares of FactSet Research Systems from $469.00 to $493.00 and gave the company a “hold” rating in a report on Friday, December 20th. BMO Capital Markets dropped their price objective on shares of FactSet Research Systems from $521.00 to $518.00 and set a “market perform” rating for the company in a report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $503.00 price objective on shares of FactSet Research Systems in a report on Monday, March 10th. Finally, Morgan Stanley upped their price objective on shares of FactSet Research Systems from $373.00 to $409.00 and gave the company an “underweight” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, FactSet Research Systems presently has a consensus rating of “Hold” and an average price target of $440.77.

FactSet Research Systems Price Performance

FactSet Research Systems stock opened at $433.01 on Friday. FactSet Research Systems has a 52-week low of $391.84 and a 52-week high of $499.87. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.93 and a beta of 0.77. The company has a fifty day simple moving average of $455.49 and a 200-day simple moving average of $464.19. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.65.

FactSet Research Systems (NYSE:FDS) last released its earnings results on Thursday, March 20th. The business services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.17 by $0.11. FactSet Research Systems had a net margin of 24.16% and a return on equity of 33.92%. The business had revenue of $570.70 million during the quarter, compared to analyst estimates of $570.65 million. During the same quarter in the prior year, the firm earned $4.22 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that FactSet Research Systems will post 17.21 EPS for the current fiscal year.

FactSet Research Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $4.16 dividend on an annualized basis and a yield of 0.96%. FactSet Research Systems’s payout ratio is currently 29.82%.

Institutional Trading of FactSet Research Systems

Several hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. lifted its position in shares of FactSet Research Systems by 2.3% during the third quarter. Raymond James Trust N.A. now owns 948 shares of the business services provider’s stock worth $436,000 after purchasing an additional 21 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of FactSet Research Systems by 1.4% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,572 shares of the business services provider’s stock worth $755,000 after purchasing an additional 22 shares in the last quarter. Allworth Financial LP lifted its position in shares of FactSet Research Systems by 19.1% during the fourth quarter. Allworth Financial LP now owns 137 shares of the business services provider’s stock worth $64,000 after purchasing an additional 22 shares in the last quarter. Private Trust Co. NA lifted its position in shares of FactSet Research Systems by 8.2% during the fourth quarter. Private Trust Co. NA now owns 291 shares of the business services provider’s stock worth $140,000 after purchasing an additional 22 shares in the last quarter. Finally, Kolinsky Wealth Management LLC lifted its position in shares of FactSet Research Systems by 3.2% during the fourth quarter. Kolinsky Wealth Management LLC now owns 739 shares of the business services provider’s stock worth $355,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.

About FactSet Research Systems

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.