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

FactSet Research Systems (NYSE:FDS) was downgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $402.00 price objective on the business services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 6.89% from the stock’s previous close.

Several other analysts have also commented on the company. BMO Capital Markets cut their price objective on 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 reaffirmed a “sector perform” rating and set a $503.00 price target on shares of FactSet Research Systems in a research report on Monday, March 10th. Stifel Nicolaus increased their price objective on shares of FactSet Research Systems from $469.00 to $493.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their target price on shares of FactSet Research Systems from $373.00 to $409.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $444.23.

FactSet Research Systems Stock Performance

Shares of NYSE FDS opened at $431.75 on Friday. The firm’s 50-day moving average price is $455.91 and its 200-day moving average price is $464.12. FactSet Research Systems has a 52-week low of $391.84 and a 52-week high of $499.87. The company has a market cap of $16.42 billion, a PE ratio of 30.95, a PEG ratio of 2.93 and a beta of 0.77. 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 issued its earnings results on Thursday, March 20th. The business services provider reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.11. The company had revenue of $570.70 million for the quarter, compared to analysts’ expectations of $570.65 million. FactSet Research Systems had a net margin of 24.16% and a return on equity of 33.92%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $4.22 earnings per share. As a group, analysts anticipate that FactSet Research Systems will post 17.21 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FDS. Quest Partners LLC boosted its stake in FactSet Research Systems by 560.3% in the 3rd quarter. Quest Partners LLC now owns 449 shares of the business services provider’s stock worth $206,000 after purchasing an additional 381 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FactSet Research Systems during the third quarter worth $736,000. Prospera Private Wealth LLC purchased a new position in FactSet Research Systems during the third quarter valued at $119,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in FactSet Research Systems by 153.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,813 shares of the business services provider’s stock valued at $8,191,000 after acquiring an additional 10,791 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in FactSet Research Systems by 29.4% in the 3rd quarter. Intech Investment Management LLC now owns 12,151 shares of the business services provider’s stock valued at $5,588,000 after acquiring an additional 2,764 shares during the last quarter. Institutional investors 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.