Bank of Nova Scotia Sells 1,101 Shares of FactSet Research Systems Inc. (NYSE:FDS)

Bank of Nova Scotia trimmed its position in FactSet Research Systems Inc. (NYSE:FDS - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,972 shares of the business services provider's stock after selling 1,101 shares during the period. Bank of Nova Scotia's holdings in FactSet Research Systems were worth $1,806,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in FactSet Research Systems by 4.9% during the first quarter. Crossmark Global Holdings Inc. now owns 809 shares of the business services provider's stock worth $368,000 after buying an additional 38 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of FactSet Research Systems by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 1,339 shares of the business services provider's stock valued at $609,000 after acquiring an additional 60 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of FactSet Research Systems by 284.3% during the first quarter. Bessemer Group Inc. now owns 1,176 shares of the business services provider's stock worth $535,000 after purchasing an additional 870 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of FactSet Research Systems in the first quarter worth approximately $2,528,000. Finally, Golden State Wealth Management LLC increased its position in shares of FactSet Research Systems by 800.0% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the business services provider's stock worth $45,000 after purchasing an additional 88 shares during the last quarter. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDS has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of FactSet Research Systems from $390.00 to $393.00 and gave the stock an "underweight" rating in a research note on Friday, June 20th. Evercore ISI cut their price objective on FactSet Research Systems from $470.00 to $448.00 and set an "in-line" rating for the company in a report on Monday, June 16th. BMO Capital Markets boosted their target price on FactSet Research Systems from $448.00 to $452.00 and gave the stock a "market perform" rating in a research report on Friday, June 20th. UBS Group reiterated a "neutral" rating on shares of FactSet Research Systems in a research report on Friday, June 20th. Finally, Raymond James Financial raised shares of FactSet Research Systems from an "underperform" rating to a "market perform" rating in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $444.25.

FactSet Research Systems Trading Down 1.1%

Shares of FactSet Research Systems stock traded down $4.42 on Friday, hitting $382.25. The stock had a trading volume of 219,024 shares, compared to its average volume of 371,832. The stock's 50-day simple moving average is $427.12 and its two-hundred day simple moving average is $439.99. FactSet Research Systems Inc. has a one year low of $381.30 and a one year high of $499.87. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.66. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.50 and a beta of 0.83.

FactSet Research Systems (NYSE:FDS - Get Free Report) last released its quarterly earnings data on Monday, June 23rd. The business services provider reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.30 by ($0.03). The firm had revenue of $585.52 million during the quarter, compared to analysts' expectations of $580.70 million. FactSet Research Systems had a net margin of 23.30% and a return on equity of 31.59%. FactSet Research Systems's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.37 EPS. As a group, sell-side analysts predict that FactSet Research Systems Inc. will post 17.21 EPS for the current year.

FactSet Research Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.40 annualized dividend and a dividend yield of 1.2%. FactSet Research Systems's payout ratio is 31.79%.

Insider Activity

In other news, EVP Christopher R. Ellis sold 7,606 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $446.84, for a total value of $3,398,665.04. Following the completion of the sale, the executive vice president directly owned 23,952 shares of the company's stock, valued at approximately $10,702,711.68. This trade represents a 24.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James J. Mcgonigle sold 2,925 shares of FactSet Research Systems stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $451.39, for a total value of $1,320,315.75. Following the sale, the director directly owned 4,461 shares in the company, valued at approximately $2,013,650.79. The trade was a 39.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,031 shares of company stock valued at $5,825,481. Company insiders own 1.10% of the company's stock.

FactSet Research Systems Profile

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.