Wells Fargo & Company Cuts FactSet Research Systems (NYSE:FDS) Price Target to $500.00

FactSet Research Systems (NYSE:FDS) had its price objective reduced by equities research analysts at Wells Fargo & Company from $503.00 to $500.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 10.12% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets reduced their price target on FactSet Research Systems from $521.00 to $518.00 and set a “market perform” rating for the company in a research report on Monday, December 23rd. UBS Group boosted their target price on FactSet Research Systems from $485.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Royal Bank of Canada restated a “sector perform” rating and set a $503.00 target price on shares of FactSet Research Systems in a research report on Friday, December 20th. Morgan Stanley boosted their target price on FactSet Research Systems from $373.00 to $409.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus boosted their target price on FactSet Research Systems from $469.00 to $493.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $453.23.

FactSet Research Systems Price Performance

Shares of NYSE FDS opened at $454.07 on Tuesday. The stock has a market cap of $17.27 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77. FactSet Research Systems has a fifty-two week low of $391.84 and a fifty-two week high of $499.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a fifty day moving average of $472.56 and a 200-day moving average of $457.31.

FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.25 by $0.12. The company had revenue of $568.70 million during the quarter, compared to analysts’ expectations of $565.14 million. FactSet Research Systems had a return on equity of 33.92% and a net margin of 24.16%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.12 earnings per share. Equities research analysts anticipate that FactSet Research Systems will post 17.21 earnings per share for the current year.

Hedge Funds Weigh In On FactSet Research Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of FactSet Research Systems by 2.2% in the 3rd quarter. State Street Corp now owns 1,932,376 shares of the business services provider’s stock worth $888,603,000 after purchasing an additional 42,303 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FactSet Research Systems by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 1,096,592 shares of the business services provider’s stock valued at $527,411,000 after acquiring an additional 94,668 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of FactSet Research Systems by 3.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 505,587 shares of the business services provider’s stock valued at $240,184,000 after acquiring an additional 16,522 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of FactSet Research Systems by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 501,068 shares of the business services provider’s stock valued at $240,653,000 after acquiring an additional 7,718 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of FactSet Research Systems by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,434 shares of the business services provider’s stock valued at $183,675,000 after acquiring an additional 9,048 shares during the last quarter. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

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.