FactSet Research Systems Inc. $FDS Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management cut its FactSet Research Systems stake by 93.2% in the fourth quarter, selling 797,614 shares and leaving it with 58,425 shares worth about $16.6 million.
• FactSet’s latest earnings beat expectations, with EPS of $4.46 versus $4.37 expected and revenue of $611.0 million, up 7.1% year over year.
• The company also raised its quarterly dividend to $1.16 per share, implying a $4.64 annual rate and a 2.1% yield; meanwhile, analysts remain cautious with an average rating of “Reduce” and an average target price of $279.85.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in shares of FactSet Research Systems Inc. (NYSE:FDS - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,425 shares of the business services provider's stock after selling 797,614 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of FactSet Research Systems worth $16,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new position in FactSet Research Systems in the 3rd quarter valued at about $25,000. Cromwell Holdings LLC purchased a new stake in shares of FactSet Research Systems during the fourth quarter worth about $26,000. WPG Advisers LLC grew its holdings in shares of FactSet Research Systems by 76.9% during the fourth quarter. WPG Advisers LLC now owns 92 shares of the business services provider's stock worth $27,000 after buying an additional 40 shares in the last quarter. Winnow Wealth LLC acquired a new position in shares of FactSet Research Systems in the third quarter valued at approximately $28,000. Finally, Field & Main Bank acquired a new stake in FactSet Research Systems during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 91.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America began coverage on FactSet Research Systems in a report on Tuesday, February 17th. They issued an "underperform" rating and a $195.00 price target for the company. Weiss Ratings restated a "sell (d+)" rating on shares of FactSet Research Systems in a report on Friday, March 27th. Royal Bank Of Canada reduced their target price on FactSet Research Systems from $320.00 to $243.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 18th. The Goldman Sachs Group lowered their price target on FactSet Research Systems from $253.00 to $217.00 and set a "sell" rating for the company in a report on Wednesday, April 1st. Finally, UBS Group dropped their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $279.85.

FactSet Research Systems Stock Up 0.0%

Shares of NYSE FDS opened at $223.66 on Monday. The stock has a market capitalization of $8.15 billion, a PE ratio of 14.38, a P/E/G ratio of 1.94 and a beta of 0.69. 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 fifty day moving average of $218.72 and a 200-day moving average of $250.38. FactSet Research Systems Inc. has a 52-week low of $185.00 and a 52-week high of $474.79.

FactSet Research Systems (NYSE:FDS - Get Free Report) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.46 earnings per share for the quarter, topping the consensus estimate of $4.37 by $0.09. FactSet Research Systems had a return on equity of 30.25% and a net margin of 24.48%.The business had revenue of $611.02 million for the quarter, compared to analyst estimates of $604.78 million. During the same period last year, the company posted $4.28 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that FactSet Research Systems Inc. will post 17.65 EPS for the current year.

FactSet Research Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 29th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $4.64 annualized dividend and a dividend yield of 2.1%. This is an increase from FactSet Research Systems's previous quarterly dividend of $1.10. FactSet Research Systems's dividend payout ratio is presently 28.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.