State of Michigan Retirement System grew its stake in shares of FactSet Research Systems Inc. (NYSE:FDS – Get Rating) by 5.5% in the first quarter, HoldingsChannel.com reports. The firm owned 31,195 shares of the business services provider's stock after purchasing an additional 1,635 shares during the period. State of Michigan Retirement System's holdings in FactSet Research Systems were worth $13,543,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDS. Kestra Advisory Services LLC bought a new position in shares of FactSet Research Systems in the fourth quarter valued at approximately $252,000. Van ECK Associates Corp grew its holdings in shares of FactSet Research Systems by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 4,590 shares of the business services provider's stock valued at $2,231,000 after acquiring an additional 344 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of FactSet Research Systems by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 9,333 shares of the business services provider's stock valued at $4,536,000 after acquiring an additional 1,811 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of FactSet Research Systems in the fourth quarter valued at approximately $389,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of FactSet Research Systems in the fourth quarter valued at approximately $1,286,000. 89.99% of the stock is owned by institutional investors.
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In related news, EVP Jonathan Reeve sold 335 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $401.55, for a total value of $134,519.25. Following the sale, the executive vice president now owns 111 shares in the company, valued at $44,572.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Sheila B. Jordan sold 2,572 shares of the stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $391.15, for a total value of $1,006,037.80. Following the transaction, the director now owns 177 shares of the company's stock, valued at $69,233.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Reeve sold 335 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 111 shares in the company, valued at approximately $44,572.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,407 shares of company stock worth $4,430,827. Corporate insiders own 0.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on FactSet Research Systems from $102.00 to $418.00 and gave the company a "hold" rating in a report on Friday, June 24th. Morgan Stanley dropped their price objective on 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. Stifel Nicolaus dropped their price objective on FactSet Research Systems from $432.00 to $394.00 and set a "hold" rating on the stock in a research note on Friday, June 24th. StockNews.com downgraded 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 FactSet Research Systems from $550.00 to $440.00 and set an "overweight" rating on the stock in a research note on Friday, June 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $407.50.FactSet Research Systems Trading Up 3.0 %
Shares of FDS stock opened at $421.15 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.12 and a current ratio of 2.12. FactSet Research Systems Inc. has a 52-week low of $342.20 and a 52-week high of $495.39. The company has a market capitalization of $16.00 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.78. The business's fifty day moving average is $382.61 and its 200 day moving average is $403.94.
FactSet Research Systems (NYSE:FDS – Get Rating) last issued its quarterly earnings data on Thursday, June 23rd. The business services provider reported $3.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.58. FactSet Research Systems had a return on equity of 44.24% and a net margin of 22.41%. The company had revenue of $488.75 million for the quarter, compared to the consensus estimate of $476.06 million. During the same quarter last year, the business posted $2.72 earnings per share. On average, equities research analysts anticipate that FactSet Research Systems Inc. will post 13.48 EPS for the current fiscal year.
FactSet Research Systems Profile
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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.
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