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

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 on Friday, MarketBeat Ratings reports. They presently have a $402.00 price target on the business services provider’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 6.89% from the company’s current price.

Several other analysts have also recently issued reports on the company. Morgan Stanley raised their target price on FactSet Research Systems from $373.00 to $409.00 and gave the stock an “underweight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $503.00 price objective on shares of FactSet Research Systems in a research report on Monday, March 10th. BMO Capital Markets reduced their target price on FactSet Research Systems from $521.00 to $518.00 and set a “market perform” rating on the stock in a research note on Monday, December 23rd. Finally, Stifel Nicolaus raised their price target on FactSet Research Systems from $469.00 to $493.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, FactSet Research Systems currently has an average rating of “Hold” and an average target price of $444.23.

FactSet Research Systems Price Performance

FDS opened at $431.75 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.39 and a quick ratio of 1.39. FactSet Research Systems has a 1 year low of $391.84 and a 1 year high of $499.87. The stock’s 50 day simple moving average is $455.91 and its 200 day simple moving average is $464.12. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.93 and a beta of 0.77.

FactSet Research Systems (NYSE:FDS) last announced its quarterly earnings results on Thursday, March 20th. The business services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.17 by $0.11. The business had revenue of $570.70 million during 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 revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.22 EPS. As a group, analysts predict 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 institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake 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 buying an additional 42,303 shares during the last quarter. Geode Capital Management LLC raised its position 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 worth $527,411,000 after purchasing an additional 94,668 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in 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 worth $240,184,000 after purchasing an additional 16,522 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 worth $240,653,000 after purchasing an additional 7,718 shares in the last quarter. Finally, Invesco Ltd. grew its position in FactSet Research Systems by 17.2% during the 4th quarter. Invesco Ltd. now owns 456,149 shares of the business services provider’s stock valued at $219,079,000 after purchasing an additional 66,861 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.