Cibc World Market Inc. Acquires 6,870 Shares of FactSet Research Systems Inc. $FDS

Key Points

• CIBC World Market Inc. sharply increased its stake in FactSet Research Systems, buying 6,870 additional shares in the fourth quarter and lifting its holdings by 548.7% to 8,122 shares worth about $2.36 million.
• FactSet posted better-than-expected quarterly results, reporting EPS of $4.46 on revenue of $611.02 million, with revenue up 7.1% year over year.
• The company also raised its quarterly dividend to $1.16 per share from $1.10, while analysts currently hold a consensus rating of “Reduce” with an average price target of $279.62.

Cibc World Market Inc. raised its holdings in FactSet Research Systems Inc. (NYSE:FDS - Free Report) by 548.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,122 shares of the business services provider's stock after purchasing an additional 6,870 shares during the quarter. Cibc World Market Inc.'s holdings in FactSet Research Systems were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FDS. Jones Financial Companies Lllp grew its stake in FactSet Research Systems by 5.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,727 shares of the business services provider's stock valued at $785,000 after purchasing an additional 91 shares during the period. Empowered Funds LLC grew its stake in FactSet Research Systems by 27.6% in the 1st quarter. Empowered Funds LLC now owns 972 shares of the business services provider's stock valued at $442,000 after purchasing an additional 210 shares during the period. Geneos Wealth Management Inc. grew its stake in FactSet Research Systems by 188.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 98 shares of the business services provider's stock valued at $45,000 after purchasing an additional 64 shares during the period. EverSource Wealth Advisors LLC grew its stake in FactSet Research Systems by 58.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 138 shares of the business services provider's stock valued at $62,000 after purchasing an additional 51 shares during the period. Finally, Cerity Partners LLC grew its stake in FactSet Research Systems by 15.6% in the 2nd quarter. Cerity Partners LLC now owns 5,247 shares of the business services provider's stock valued at $2,347,000 after purchasing an additional 707 shares during the period. Institutional investors own 91.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FDS shares. Royal Bank Of Canada reduced their price objective on 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. Wells Fargo & Company increased their price target on FactSet Research Systems from $195.00 to $200.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 1st. UBS Group cut their price target on FactSet Research Systems from $425.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Barclays cut their price target on FactSet Research Systems from $300.00 to $210.00 and set an "underweight" rating for the company in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group cut their target price on FactSet Research Systems from $253.00 to $217.00 and set a "sell" rating for the company in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $279.62.

FactSet Research Systems Stock Up 0.3%

FDS stock opened at $247.13 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $9.00 billion, a PE ratio of 15.89, a PEG ratio of 2.14 and a beta of 0.71. FactSet Research Systems Inc. has a twelve month low of $185.00 and a twelve month high of $453.41. The stock has a 50-day simple moving average of $229.23 and a two-hundred day simple moving average of $243.77.

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

FactSet Research Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, May 29th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 29th. This is a boost from FactSet Research Systems's previous quarterly dividend of $1.10. FactSet Research Systems's payout ratio is presently 29.84%.

About FactSet Research Systems

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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