Third View Private Wealth LLC Acquires New Holdings in FactSet Research Systems Inc. $FDS

Key Points

• Third View Private Wealth LLC opened a new position in FactSet, buying 5,641 shares worth about $1.64 million in the fourth quarter, and institutional investors now own 91.24% of the company with several large funds (Vanguard, State Street, Invesco, etc.) recently increasing stakes.
• FactSet topped the most recent quarter's estimates with $4.46 EPS vs. $4.37 expected and $611.0M in revenue (up 7.1% year-over-year), while reporting strong profitability metrics (ROE 30.25%, net margin 24.48%).
• The board approved a $600 million share buyback (about 5.4% of shares) and the company pays a $1.10 quarterly dividend ($4.40 annualized, ~1.9% yield), even as analysts remain mixed with a MarketBeat consensus rating of "Reduce" and an average price target of $279.85.

Third View Private Wealth LLC acquired a new position in shares of FactSet Research Systems Inc. (NYSE:FDS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,641 shares of the business services provider's stock, valued at approximately $1,637,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of FactSet Research Systems by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,932,382 shares of the business services provider's stock worth $1,413,078,000 after acquiring an additional 107,184 shares in the last quarter. State Street Corp raised its stake in shares of FactSet Research Systems by 1.2% during the 3rd quarter. State Street Corp now owns 1,961,231 shares of the business services provider's stock worth $561,873,000 after acquiring an additional 23,660 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of FactSet Research Systems by 1.2% during the 3rd quarter. Ninety One UK Ltd now owns 1,206,890 shares of the business services provider's stock worth $345,762,000 after acquiring an additional 14,256 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of FactSet Research Systems by 3.2% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 856,039 shares of the business services provider's stock worth $245,247,000 after acquiring an additional 26,865 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of FactSet Research Systems by 16.2% during the 3rd quarter. Invesco Ltd. now owns 793,832 shares of the business services provider's stock worth $227,425,000 after acquiring an additional 110,686 shares in the last quarter. Institutional investors own 91.24% of the company's stock.

FactSet Research Systems Price Performance

Shares of NYSE FDS opened at $226.36 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $8.25 billion, a PE ratio of 14.56, a P/E/G ratio of 1.84 and a beta of 0.73. The business has a 50-day simple moving average of $210.58 and a two-hundred day simple moving average of $256.56. FactSet Research Systems Inc. has a fifty-two week low of $185.00 and a fifty-two week high of $474.79.

FactSet Research Systems (NYSE:FDS - Get Free Report) last issued its quarterly 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. The business had revenue of $611.02 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $4.28 earnings per share. As a group, equities analysts expect that FactSet Research Systems Inc. will post 17.21 EPS for the current fiscal year.

FactSet Research Systems announced that its board has approved a share buyback program on Thursday, December 18th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the business services provider to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

FactSet Research Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, February 27th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.9%. FactSet Research Systems's payout ratio is 28.30%.

Analyst Ratings Changes

FDS has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a "hold" rating and set a $305.00 price objective on shares of FactSet Research Systems in a research note on Friday, December 19th. Bank of America initiated 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. UBS Group lowered 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. Weiss Ratings reissued a "sell (d+)" rating on shares of FactSet Research Systems in a report on Friday, March 27th. Finally, Morgan Stanley set a $307.00 price target on FactSet Research Systems and gave the stock an "equal weight" rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, FactSet Research Systems has a consensus rating of "Reduce" and an average price target of $279.85.

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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