Nordea Investment Management AB, a major institutional investor, has recently decreased its holdings in FactSet Research Systems Inc. The company sold 10,191 shares during the second quarter, reducing its ownership by 7.4%. As of the most recent filing with the Securities & Exchange Commission (SEC), Nordea Investment Management AB now holds 127,601 shares of FactSet Research Systems, worth approximately $50.9 million.
This move by Nordea Investment Management AB reflects a strategic decision to adjust its portfolio. While the specific reasons for this reduction in holdings have not been disclosed, it is likely that the company is reassessing its investments and making necessary adjustments based on various factors such as market conditions and performance expectations.
FactSet Research Systems provides business services and operates in a highly competitive market. Analysts have recently issued reports on the company’s stock performance. 22nd Century Group maintained its rating on FactSet Research Systems, highlighting confidence in the company’s prospects. StockNews.com initiated coverage on FactSet Research Systems with a “hold” rating. Bank of America also began coverage on the stock and assigned a “neutral” rating.
Deutsche Bank Aktiengesellschaft increased their price target for FactSet Research Systems and gave it a “buy” rating. Meanwhile, Royal Bank of Canada downgraded the stock from an “outperform” rating to a “sector perform” rating and lowered their price target.
With these mixed reviews from analysts, Bloomberg data indicates that FactSet Research Systems has an average rating of “Hold” among analysts covering the stock. The consensus price target for the stock stands at $438.90.
Shares of FactSet Research Systems are traded on the New York Stock Exchange under ticker symbol FDS. On September 18th, 2023, the stock opened at $427.67. Its 50-day moving average price sits at $427.53, while its 200-day moving average price is $412.14. The company has a market capitalization of $16.31 billion.
FactSet Research Systems operates with a debt-to-equity ratio of 1.00, indicating a balanced financial structure. Additionally, the company has current and quick ratios of 2.11, which signifies favorable liquidity positions. The stock has a price-to-earnings ratio of 32.77 and a PEG ratio of 2.37, implying that it is relatively valued compared to its earnings growth potential. FactSet Research Systems also boasts a beta of 0.81, indicating lower volatility compared to the broader market.
Investors and market observers will be keenly watching the future performance and strategic moves of FactSet Research Systems in the highly competitive business services industry. Given the diverse opinions among analysts and the mixed ratings for the stock, shareholders and potential investors may want to carefully evaluate their investment decisions based on their individual risk tolerance and long-term objectives.
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Hedge Funds Boost Positions in FactSet Research Systems, CEO Sells Stocks
In a surprising turn of events, various hedge funds have made significant changes to their positions in FactSet Research Systems, a leading business services provider. American Century Companies Inc. has increased its position in the company by 10.8% during the first quarter. With an additional purchase of 317 shares, American Century Companies Inc. now owns 3,246 shares valued at $1,409,000.
Another hedge fund, Panagora Asset Management Inc., raised its stake in FactSet Research Systems by 9.3% during the same period with the acquisition of an extra 190 shares. This brings their total ownership to 2,236 shares worth $971,000.
Commonwealth of Pennsylvania Public School Empls Retrmt SYS also joined the trend and increased its stake in FactSet Research Systems by 7.0%, purchasing an additional 332 shares during the first quarter. The total number of shares owned by Commonwealth of Pennsylvania Public School Empls Retrmt SYS now stands at 5,057 with a value of $2,195,000.
Cibc World Market Inc., on the other hand, lifted its holdings in FactSet Research Systems by 4.2% during the same period with a minor acquisition of 36 shares. This brings their ownership to a modest 897 shares valued at $389,000.
Lastly, Vontobel Holding Ltd., known for its remarkable growth strategies, grew its position in FactSet Research Systems by an astonishing 49.5% during the first quarter with the purchase of 348 additional shares. Vontobel Holding Ltd.’s current holdings amount to 1,051 shares worth $463,000.
It is interesting to note that institutional investors and hedge funds own a staggering 89.50% of FactSet Research Systems’ stock.
In other news related to FactSet Research Systems, CEO Frederick Philip Snow recently sold off some stocks. On Friday, September 1st, he sold 3,000 shares of the company’s stock at an average price of $438.78, resulting in a total transaction value of $1,316,340.00. After this sale, Snow now directly owns 8,247 shares valued at $3,618,618.66. This sale was disclosed in a legal filing with the Securities & Exchange Commission (SEC).
Moving on to analyst reports on FDS shares, several equities analysts have issued their opinions recently. 22nd Century Group reaffirmed a “maintains” rating on FactSet Research Systems’ shares on Tuesday, June 27th. StockNews.com initiated coverage on FDS with a “hold” rating for the company on Thursday, August 17th.
Bank of America also began coverage on FactSet Research Systems with a “neutral” rating on Thursday, June 15th. Deutsche Bank Aktiengesellschaft raised their price target from $461.00 to $471.00 and gave the stock a “buy” rating in their research report published on Tuesday, September 5th.
Lastly, Royal Bank of Canada downgraded FactSet Research Systems from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $500.00 to $464.00 in their research note released on Friday, August 25th.
According to data from Bloomberg and various sources within the industry, FactSet Research Systems currently holds an average rating of “Hold” among analysts with a consensus price target of $438.90.
The latest earnings report for FactSet Research Systems was released on Thursday, June 22nd. The company reported earnings per share (EPS) of $3.79 for the quarter exceeding analysts’ estimates by $0.17 per share (EPS). FactSet Research Systems had an impressive return on equity of 37.65% and a net margin of 24.77%. The firm generated revenue of $529.80 million during the quarter, slightly beating analyst expectations set at $527.56 million. In comparison to the same quarter last year, FactSet Research Systems’ revenue has increased by 8.4%.
Equities research analysts anticipate that FactSet Research Systems Inc. will post earnings per share (EPS) of $15.07 for the current fiscal year.
Additionally, FactSet Research Systems recently declared a quarterly dividend to be paid on Thursday, September 21st. Shareholders who were recorded on Thursday, August 31st will receive a dividend of $0.98 per share.The ex-dividend date was Wednesday, August 30th. This translates to an annualized dividend of $3.92 and a corresponding yield of 0.92%.
FactSet Research Systems’ dividend payout ratio (DPR) currently stands at 30.04%.
Overall, these recent developments demonstrate notable changes in stock ownership and market analysis for FactSet Research Systems, shedding light on its financial performance and investor sentiment within the industry.
Reference:
September 18, 2023
