Canoe Financial LP Sells 4,840 Shares of FactSet Research Systems Inc. $FDS

Key Points

• Canoe Financial LP reduced its FactSet stake by 19.6% in the first quarter, selling 4,840 shares and leaving it with 19,915 shares valued at about $4.32 million.
• Wall Street sentiment is cautious, with the stock carrying an average “Reduce” rating and a consensus price target of $267.69; several firms recently trimmed targets or downgraded the name.
• FactSet reported solid results and raised its dividend, beating earnings and revenue estimates for the quarter and increasing its quarterly payout to $1.16 per share, or $4.64 annually.

Canoe Financial LP cut its stake in shares of FactSet Research Systems Inc. (NYSE:FDS - Free Report) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,915 shares of the business services provider's stock after selling 4,840 shares during the quarter. Canoe Financial LP owned approximately 0.05% of FactSet Research Systems worth $4,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDS. Cromwell Holdings LLC bought a new position in shares of FactSet Research Systems during the fourth quarter worth about $26,000. WPG Advisers LLC boosted its holdings in FactSet Research Systems by 76.9% in the fourth quarter. WPG Advisers LLC now owns 92 shares of the business services provider's stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. Field & Main Bank bought a new stake in FactSet Research Systems in the fourth quarter valued at approximately $29,000. BOKF NA increased its position in FactSet Research Systems by 5,100.0% during the 3rd quarter. BOKF NA now owns 104 shares of the business services provider's stock valued at $30,000 after purchasing an additional 102 shares during the period. Finally, Navalign LLC bought a new position in FactSet Research Systems during the 4th quarter worth approximately $32,000. 91.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FDS. Weiss Ratings restated a "sell (d+)" rating on shares of FactSet Research Systems in a research report on Wednesday. Royal Bank Of Canada lowered their target price on shares of FactSet Research Systems from $243.00 to $240.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group lowered shares of FactSet Research Systems from a "sell" rating to an "underweight" rating in a report on Thursday, June 18th. Wells Fargo & Company upped their price target on shares of FactSet Research Systems from $195.00 to $200.00 and gave the company an "underweight" rating in a research report on Wednesday, April 1st. Finally, UBS Group decreased their price target on FactSet Research Systems from $425.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $267.69.

FactSet Research Systems Stock Performance

Shares of FDS stock opened at $232.00 on Monday. The firm has a 50 day moving average of $230.82 and a 200-day moving average of $239.15. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.93 and a beta of 0.71. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. FactSet Research Systems Inc. has a 52 week low of $185.00 and a 52 week high of $453.41.

FactSet Research Systems (NYSE:FDS - Get Free Report) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.37 by $0.09. FactSet Research Systems had a net margin of 24.48% and a return on equity of 30.25%. The company had revenue of $611.02 million for the quarter, compared to the consensus estimate of $604.78 million. During the same quarter in the previous year, the company earned $4.28 EPS. FactSet Research Systems's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that FactSet Research Systems Inc. will post 17.66 earnings per share for the current year.

FactSet Research Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 29th were paid a $1.16 dividend. The ex-dividend date was Friday, May 29th. This represents a $4.64 annualized dividend and a dividend yield of 2.0%. This is a boost from FactSet Research Systems's previous quarterly dividend of $1.10. FactSet Research Systems's dividend payout ratio (DPR) is 29.84%.

FactSet Research Systems Company Profile

FactSet Research Systems Inc operates as a global provider of integrated financial data and analytics to the investment community. Founded in 1978 and headquartered in Norwalk, Connecticut, the company offers a unified platform that aggregates content from thousands of sources, delivering real-time and historical market data, company fundamentals, estimates, fixed-income information and proprietary analytics to portfolio managers, research analysts, investment bankers and risk officers.

The company's core products include the FactSet Workstation, an application offering customizable screening, charting, portfolio analysis and news; APIs and data feeds for seamless integration into proprietary systems; and cloud-based solutions for thematic research and quantitative strategies.

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