Norges Bank Takes Position in FactSet Research Systems Inc. $FDS

Key Points

• Norges Bank disclosed a new position in FactSet Research Systems, buying 522,045 shares valued at about $151.5 million and ending the quarter with roughly 1.41% ownership of the company.
• FactSet reported better-than-expected quarterly results, posting EPS of $4.46 versus estimates of $4.37 and revenue of $611.0 million, 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 mixed view with a consensus rating of “Reduce” and an average target price of $279.62.

Norges Bank acquired a new stake in FactSet Research Systems Inc. (NYSE:FDS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 522,045 shares of the business services provider's stock, valued at approximately $151,492,000. Norges Bank owned approximately 1.41% of FactSet Research Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FDS. Northwestern Mutual Wealth Management Co. lifted its stake in shares of FactSet Research Systems by 444,058.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 13,857,733 shares of the business services provider's stock valued at $4,021,376,000 after purchasing an additional 13,854,613 shares in the last quarter. M&T Bank Corp lifted its stake in shares of FactSet Research Systems by 3,285.3% in the 4th quarter. M&T Bank Corp now owns 307,923 shares of the business services provider's stock valued at $89,356,000 after purchasing an additional 298,827 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of FactSet Research Systems by 1,356.3% in the 3rd quarter. Two Sigma Investments LP now owns 279,768 shares of the business services provider's stock valued at $80,151,000 after purchasing an additional 260,557 shares in the last quarter. Barclays PLC lifted its stake in shares of FactSet Research Systems by 159.3% in the 3rd quarter. Barclays PLC now owns 272,535 shares of the business services provider's stock valued at $78,079,000 after purchasing an additional 167,424 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of FactSet Research Systems by 36.8% in the 4th quarter. ProShare Advisors LLC now owns 559,500 shares of the business services provider's stock valued at $162,361,000 after purchasing an additional 150,448 shares in the last quarter. 91.24% of the stock is owned by institutional investors and hedge funds.

FactSet Research Systems Stock Performance

Shares of FDS opened at $253.42 on Thursday. The business's 50 day moving average is $224.85 and its two-hundred day moving average is $244.34. FactSet Research Systems Inc. has a 52-week low of $185.00 and a 52-week high of $453.41. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.22 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 (NYSE:FDS - Get Free Report) last announced 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 return on equity of 30.25% and a net margin of 24.48%.The company had revenue of $611.02 million for the quarter, compared to analyst estimates of $604.78 million. During the same period in the prior year, the company posted $4.28 EPS. FactSet Research Systems's quarterly revenue was up 7.1% on a year-over-year basis. Analysts forecast that FactSet Research Systems Inc. will post 17.66 EPS for the current fiscal year.

FactSet Research Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 29th will be issued a $1.16 dividend. This is a positive change from FactSet Research Systems's previous quarterly dividend of $1.10. The ex-dividend date is Friday, May 29th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.8%. FactSet Research Systems's dividend payout ratio (DPR) is presently 29.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of FactSet Research Systems in a research note on Friday, March 27th. UBS Group reduced their price target on FactSet Research Systems from $425.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Barclays reduced their price target on FactSet Research Systems from $300.00 to $210.00 and set an "underweight" rating on the stock in a research report on Monday, February 23rd. Bank of America assumed coverage on FactSet Research Systems in a research report on Tuesday, February 17th. They set an "underperform" rating and a $195.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on FactSet Research Systems from $195.00 to $200.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, FactSet Research Systems has an average rating of "Reduce" and a consensus target price of $279.62.

FactSet Research Systems 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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