About FactSet Research Systems (NYSE:FDS)
Factset Research Systems Inc. is engaged in providing integrated financial information and big data analytical applications for the global investment community. The Company's segments include the U.S., Europe and Asia Pacific. The U.S. segment services finance professionals, including financial institutions throughout the Americas. The European segment maintains offices in France, Germany, Italy, Ireland, Latvia, Luxembourg, the Netherlands, Spain, South Africa, Sweden and Dubai. The Asia Pacific segment maintains office locations in Australia, Hong Kong, Singapore and Mumbai, India. The Company delivers insight and information to investment professionals through its analytics, service, content, and technology. Its offerings include a complete services solution focused on verifying, cleaning and loading portfolio data across asset classes, and an execution management system. The Company offers third-party content through desktop, wireless and off-platform solutions.
Industry, Sector and Symbol:
- Industry: Professional Information Services
- Sub-Industry: Application Software
- Sector: Business Services
- Symbol: NYSE:FDS
- CUSIP: 30307510
- Web: www.factset.com
- Debt-to-Equity Ratio: 1.03%
- Current Ratio: 2.04%
- Quick Ratio: 2.04%
Sales & Book Value:
- Trailing P/E Ratio: 26.82
- Forward P/E Ratio: 23.97
- P/E Growth: 2.23
- Annual Sales: $1.22118 billion
- Price / Sales: 6.28
- Cash Flow: $8.61 per share
- Price / Cash: 22.77
- Book Value: $14.27 per share
- Price / Book: 13.74
- Annual Dividend: $2.24
- Dividend Yield: 1.1%
- Trailing EPS: $6.52
- Net Income: $258.25 million
- Net Margins: 21.15%
- Return on Equity: 55.76%
- Return on Assets: 23.74%
- Employees: 9,074
- Outstanding Shares: 39,110,000
Frequently Asked Questions for FactSet Research Systems (NYSE:FDS)
What is FactSet Research Systems' stock symbol?
FactSet Research Systems trades on the New York Stock Exchange (NYSE) under the ticker symbol "FDS."
How often does FactSet Research Systems pay dividends? What is the dividend yield for FactSet Research Systems?
FactSet Research Systems declared a quarterly dividend on Wednesday, November 8th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.56 per share on Tuesday, December 19th. This represents a $2.24 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, November 29th. View FactSet Research Systems' Dividend History.
How will FactSet Research Systems' stock buyback program work?
FactSet Research Systems announced that its board has authorized a share buyback program on Sunday, April 9th 2017, which allows the company to repurchase $300,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.
How were FactSet Research Systems' earnings last quarter?
FactSet Research Systems Inc. (NYSE:FDS) released its quarterly earnings results on Tuesday, September, 26th. The business services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. The business services provider earned $326.60 million during the quarter, compared to analyst estimates of $325.26 million. FactSet Research Systems had a return on equity of 55.76% and a net margin of 21.15%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.69 earnings per share. View FactSet Research Systems' Earnings History.
When will FactSet Research Systems make its next earnings announcement?
What guidance has FactSet Research Systems issued on next quarter's earnings?
FactSet Research Systems updated its first quarter earnings guidance on Tuesday, September, 26th. The company provided earnings per share (EPS) guidance of $1.93-1.99 for the period, compared to the Thomson Reuters consensus estimate of $1.94. The company issued revenue guidance of $327-333 million, compared to the consensus revenue estimate of $327.59 million.
Where is FactSet Research Systems' stock going? Where will FactSet Research Systems' stock price be in 2017?
9 equities research analysts have issued twelve-month price objectives for FactSet Research Systems' shares. Their forecasts range from $160.00 to $205.00. On average, they anticipate FactSet Research Systems' share price to reach $180.22 in the next year. View Analyst Ratings for FactSet Research Systems.
Who are some of FactSet Research Systems' key competitors?
Who are FactSet Research Systems' key executives?
FactSet Research Systems' management team includes the folowing people:
- Philip A. Hadley, Chairman of the Board (Age 55)
- F. Philip Snow, Chief Executive Officer, Director (Age 53)
- Maurizio Nicolelli, Chief Financial Officer, Senior Vice President (Age 49)
- Mark J. Hale, Chief Operating Officer, Executive Vice President (Age 44)
- Edward Baker-Greene, Chief Human Resource Officer, Senior Vice President (Age 54)
- John W. Wiseman, Executive Vice President, Global Head of Sales and Client Solutions (Age 49)
- Rachel R. Stern, Senior Vice President - Strategic Resources, General Counsel (Age 52)
- Rima Hyder, Vice President
- James J. III McGonigle, Lead Independent Director (Age 54)
- Robin Ann Abrams, Independent Director (Age 66)
Who owns FactSet Research Systems stock?
FactSet Research Systems' stock is owned by many different of retail and institutional investors. Top institutional investors include Bamco Inc. NY (7.68%), Wells Fargo & Company MN (5.34%), Atlanta Capital Management Co. L L C (2.94%), Kayne Anderson Rudnick Investment Management LLC (2.32%), Neuberger Berman Group LLC (1.73%) and Bares Capital Management Inc. (1.72%). Company insiders that own FactSet Research Systems stock include Frederick Philip Snow, James J Mcgonigle, Joseph E Laird Jr, Joseph E Laird, Jr, Mark J Hale, Matthew J Mcnulty, Maurizio Nicolelli, Philip A Hadley, Rachel Rebecca Stern, Scott A Billeadeau, Scott G Miller and Walter F Siebecker. View Institutional Ownership Trends for FactSet Research Systems.
Who sold FactSet Research Systems stock? Who is selling FactSet Research Systems stock?
FactSet Research Systems' stock was sold by a variety of institutional investors in the last quarter, including Janus Henderson Group PLC, Schroder Investment Management Group, Neuberger Berman Group LLC, Wells Fargo & Company MN, SG Americas Securities LLC, Virginia Retirement Systems ET AL, BNP Paribas Arbitrage SA and TD Asset Management Inc.. Company insiders that have sold FactSet Research Systems company stock in the last year include Frederick Philip Snow, James J Mcgonigle, Joseph E Laird Jr, Mark J Hale, Matthew J Mcnulty, Maurizio Nicolelli, Philip A Hadley and Scott G Miller. View Insider Buying and Selling for FactSet Research Systems.
Who bought FactSet Research Systems stock? Who is buying FactSet Research Systems stock?
FactSet Research Systems' stock was acquired by a variety of institutional investors in the last quarter, including Fiduciary Management Inc. WI, Bares Capital Management Inc., Kayne Anderson Rudnick Investment Management LLC, Investec Asset Management LTD, Teacher Retirement System of Texas, Cambria Investment Management L.P., Trexquant Investment LP and Copeland Capital Management LLC. View Insider Buying and Selling for FactSet Research Systems.
How do I buy FactSet Research Systems stock?
Shares of FactSet Research Systems can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is FactSet Research Systems' stock price today?
One share of FactSet Research Systems stock can currently be purchased for approximately $196.09.
How big of a company is FactSet Research Systems?
FactSet Research Systems has a market capitalization of $7.66908 billion and generates $1.22118 billion in revenue each year. The business services provider earns $258.25 million in net income (profit) each year or $6.52 on an earnings per share basis. FactSet Research Systems employs 9,074 workers across the globe.
How can I contact FactSet Research Systems?
FactSet Research Systems' mailing address is 601 MERRITT 7, NORWALK CT, 06851. The business services provider can be reached via phone at 203-810-1000 or via email at [email protected]
MarketBeat Community Rating for FactSet Research Systems (NYSE FDS)MarketBeat's community ratings are surveys of what our community members think about FactSet Research Systems and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Analysts' Consensus Rating for FactSet Research Systems (NYSE:FDS) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 6 Hold Ratings, 2 Buy Ratings, 0 Strong Buy Ratings|
|Consensus Rating:||Hold (Score: 2.11)|
|Consensus Price Target: ||$180.22 (8.09% downside)|
Consensus Price Target History for FactSet Research Systems (NYSE:FDS)
Analysts' Ratings History for FactSet Research Systems (NYSE:FDS)
(Data available from 11/19/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|11/8/2017||Goldman Sachs Group, Inc. (The)||Initiated Coverage||Neutral||$194.00||N/A|
|10/23/2017||Morgan Stanley||Boost Price Target||Equal Weight||$166.00 -> $171.00||N/A|
|10/23/2017||Credit Suisse Group||Reiterated Rating||Outperform||$200.00 -> $205.00||N/A|
|9/27/2017||Barclays PLC||Boost Price Target||Underweight||$164.00 -> $175.00||Low|
|9/27/2017||Bank of America Corporation||Reiterated Rating||Neutral||$180.00 -> $192.00||Low|
|9/27/2017||Stifel Nicolaus||Reiterated Rating||Hold||$163.00 -> $169.00||Low|
|9/21/2017||Northcoast Research||Upgrade||Neutral -> Buy||$195.00||Low|
|5/10/2017||Deutsche Bank AG||Initiated Coverage||Hold||$160.00||Low|
|12/20/2016||Cantor Fitzgerald||Set Price Target||Hold||$161.00||N/A|
|9/28/2016||Oppenheimer Holdings, Inc.||Reiterated Rating||Market Perform||N/A|
|9/27/2016||Raymond James Financial, Inc.||Downgrade||Market Perform -> Underperform||N/A|
|5/16/2016||Sterne Agee CRT||Reiterated Rating||Neutral||N/A|
|1/7/2016||Evercore ISI||Initiated Coverage||Hold||N/A|
|12/15/2015||BTIG Research||Reiterated Rating||Neutral||N/A|
Earnings History and Estimates Chart for FactSet Research Systems (NYSE:FDS)
Earnings History by Quarter for FactSet Research Systems (NYSE FDS)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|9/26/2017||Q4 2017||$1.89||$1.90||$325.26 million||$326.60 million||View||N/A|
|6/27/2017||Q3 17||$1.84||$1.85||$314.14 million||$312.12 million||View||N/A|
|3/28/2017||Q2 2017||$1.80||$1.81||$296.04 million||$294.40 million||View||N/A|
|12/20/2016||Q117||$1.70||$1.75||$289.30 million||$288.06 million||View||N/A|
|9/27/2016||Q416||$1.70||$1.69||$290.87 million||$287.29 million||View||Listen|
|6/28/2016||Q316||$1.61||$1.64||$287.76 million||$287.50 million||View||Listen|
|3/15/2016||Q216||$1.52||$1.59||$282.99 million||$281.80 million||View||Listen|
|12/15/2015||Q116||$1.47||$1.44||$272.72 million||$270.50 million||View||N/A|
|9/22/2015||Q415||$1.47||$1.48||$261.64 million||$261.78 million||View||Listen|
|6/16/2015||Q315||$1.41||$1.42||$253.56 million||$254.50 million||View||Listen|
|3/17/2015||Q215||$1.41||$1.39||$246.70 million||$247.80 million||View||N/A|
|12/16/2014||Q115||$1.33||$1.32||$241.69 million||$242.68 million||View||N/A|
|9/16/2014||Q414||$1.30||$1.31||$237.61 million||$238.66 million||View||N/A|
|6/17/2014||Q314||$1.25||$1.25||$230.57 million||$231.80 million||View||N/A|
|3/18/2014||Q214||$1.21||$1.22||$226.36 million||$226.93 million||View||N/A|
|12/17/2013||Q1||$1.23||$1.22||$223.66 million||$223.00 million||View||Listen|
|9/17/2013||Q4 2013||$1.21||$1.20||$218.93 million||$219.30 million||View||N/A|
|6/18/2013||Q3 2013||$1.15||$1.15||$214.94 million||$214.61 million||View||N/A|
|3/19/2013||Q2 2013||$1.11||$1.14||$213.31 million||$213.10 million||View||N/A|
|12/18/2012||Q1 2013||$1.11||$1.11||$212.26 million||$211.10 million||View||N/A|
|9/25/2012||Q412||$1.06||$1.08||$207.03 million||$207.70 million||View||N/A|
|12/14/2010||$0.84||$0.88||$173.03 million||$173.29 million||View||N/A|
Earnings Estimates for FactSet Research Systems (NYSE:FDS)
2017 EPS Consensus Estimate: $7.23
2018 EPS Consensus Estimate: $8.23
2019 EPS Consensus Estimate: $9.36
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for FactSet Research Systems (NYSE:FDS)
|Dividend Growth:||12.60% (3 Year Average)|
|Payout Ratio:||34.36% (Trailing 12 Months of Earnings) |
27.38% (Based on This Year's Estimates)
24.97% (Based on Next Year's Estimates)
|Track Record:||11 Years of Consecutive Dividend Growth|
Dividend History by Quarter for FactSet Research Systems (NYSE FDS)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for FactSet Research Systems (NYSE FDS)
Insider Ownership Percentage: 2.70%
Institutional Ownership Percentage: 94.26%
Insider Trades by Quarter for FactSet Research Systems (NYSE FDS)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|10/2/2017||Frederick Philip Snow||CEO||Sell||7,334||$181.24||$1,329,214.16|| |
|10/2/2017||Matthew J Mcnulty||VP||Sell||1,049||$181.00||$189,869.00|| |
|9/29/2017||Mark J Hale||COO||Sell||9,458||$180.34||$1,705,655.72|| |
|7/13/2017||Philip A Hadley||Director||Sell||43,842||$163.87||$7,184,388.54|| |
|7/12/2017||Philip A Hadley||Chairman||Sell||38,942||$163.83||$6,379,867.86|| |
|7/5/2017||Philip A Hadley||Director||Sell||5,983||$165.55||$990,485.65|| |
|7/3/2017||Philip A Hadley||Director||Sell||100,017||$168.99||$16,901,872.83|| |
|6/21/2017||Scott G Miller||EVP||Sell||17,074||$165.78||$2,830,527.72|| |
|6/13/2017||Joseph E Laird Jr||Director||Sell||1,000||$166.00||$166,000.00|| |
|4/17/2017||Joseph E Laird Jr||Director||Sell||1,000||$160.00||$160,000.00|| |
|1/31/2017||Joseph E Laird Jr||Director||Sell||2,146||$171.89||$368,875.94|| |
|1/12/2017||Maurizio Nicolelli||CFO||Sell||20,429||$167.75||$3,426,964.75|| |
|1/9/2017||James J Mcgonigle||Director||Sell||3,000||$170.20||$510,600.00|| |
|1/6/2017||Joseph E Laird Jr||Director||Sell||3,085||$170.00||$524,450.00|| |
|1/4/2017||James J Mcgonigle||Director||Sell||2,845||$165.94||$472,099.30|| |
|10/10/2016||Rachel Rebecca Stern||SVP||Sell||1,065||$158.79||$169,111.35|| |
|10/5/2016||Frederick Philip Snow||CEO||Sell||6,250||$158.22||$988,875.00|| |
|7/15/2016||Matthew J Mcnulty||VP||Sell||1,000||$167.50||$167,500.00|| |
|7/12/2016||Joseph E Laird Jr||Director||Sell||1,000||$165.00||$165,000.00|| |
|7/1/2016||Joseph E Laird Jr||Director||Sell||1,000||$161.00||$161,000.00|| |
|4/15/2016||Matthew J Mcnulty||VP||Sell||1,000||$154.00||$154,000.00|| |
|4/14/2016||Joseph E Laird Jr||Director||Sell||2,500||$151.70||$379,250.00|| |
|4/14/2016||Rachel Rebecca Stern||SVP||Sell||4,583||$153.37||$702,894.71|| |
|4/13/2016||Mark J Hale||COO||Sell||1,823||$150.05||$273,541.15|| |
|4/13/2016||Maurizio Nicolelli||CFO||Sell||367||$150.53||$55,244.51|| |
|1/14/2016||Joseph E Laird Jr||Director||Sell||1,000||$147.50||$147,500.00|| |
|1/13/2016||Walter F. Siebecker||Director||Sell||15,137||$146.43||$2,216,510.91|| |
|1/11/2016||Scott A. Billeadeau||Director||Sell||5,000||$151.07||$755,350.00|| |
|1/8/2016||Joseph E. Laird, Jr.||Director||Sell||1,815||$152.08||$276,025.20|| |
|12/21/2015||Matthew J. Mcnulty||VP||Sell||1,600||$154.67||$247,472.00|| |
|12/16/2015||James J. Mcgonigle||Director||Sell||1,175||$161.13||$189,327.75|| |
|10/9/2015||Rachel Rebecca Stern||SVP||Sell||1,720||$163.00||$280,360.00|| |
|10/6/2015||Frederick Philip Snow||CEO||Sell||2,116||$159.92||$338,390.72|| |
|7/14/2015||Rachel Rebecca Stern||SVP||Sell||3,527||$163.09||$575,218.43|| |
|7/13/2015||Walter F Siebecker||Director||Sell||14,315||$162.57||$2,327,189.55|| |
|4/15/2015||Philip A Hadley||CEO||Sell||35,000||$159.34||$5,576,900.00|| |
|4/14/2015||Joseph E Laird Jr||Director||Sell||2,500||$158.00||$395,000.00|| |
|4/10/2015||James J Mcgonigle||Director||Sell||3,000||$160.91||$482,730.00|| |
|4/6/2015||Scott A Billeadeau||Director||Sell||4,500||$160.26||$721,170.00|| |
|4/1/2015||Rachel Rebecca Stern||SVP||Sell||875||$160.00||$140,000.00|| |
|3/24/2015||Peter G Walsh||EVP||Sell||45,506||$157.07||$7,147,627.42|| |
|3/23/2015||Peter G Walsh||EVP||Sell||22,000||$156.87||$3,451,140.00|| |
|3/19/2015||Joseph Zimmel||Director||Sell||4,148||$156.60||$649,576.80|| |
|3/19/2015||Maurizio Nicolelli||CFO||Sell||6,670||$156.41||$1,043,254.70|| |
|3/18/2015||Michael D Frankenfield||Vice Chairman||Sell||37,570||$156.75||$5,889,097.50|| |
|1/14/2015||Maurizio Nicolelli||CFO||Sell||326||$139.82||$45,581.32|| |
|1/8/2015||Joseph E Laird Jr||Director||Sell||2,000||$140.08||$280,160.00|| |
|1/8/2015||Michael D Frankenfield||EVP||Sell||10,000||$140.32||$1,403,200.00|| |
|1/6/2015||Scott A Billeadeau||Director||Sell||2,250||$137.87||$310,207.50|| |
|12/30/2014||Michael D Frankenfield||EVP||Sell||60,000||$143.61||$8,616,600.00|| |
|12/23/2014||Philip A Hadley||CEO||Sell||40,000||$143.84||$5,753,600.00|| |
|12/22/2014||Philip A Hadley||CEO||Sell||60,000||$142.57||$8,554,200.00|| |
|12/19/2014||Peter G Walsh||COO||Sell||80,000||$142.12||$11,369,600.00|| |
|12/17/2014||James J Mcgonigle||Director||Sell||1,248||$135.49||$169,091.52|| |
|9/19/2014||Joseph E Laird Jr||Director||Sell||1,500||$124.32||$186,480.00|| |
|7/14/2014||Maurizio Nicolelli||CFO||Sell||2,108||$120.96||$254,983.68|| |
|7/10/2014||Walter F Siebecker||Director||Sell||3,073||$119.33||$366,701.09|| |
|7/1/2014||Michael F Dichristina||Director||Sell||2,710||$120.61||$326,853.10|| |
|6/30/2014||Joseph E Laird Jr||Director||Sell||1,000||$120.00||$120,000.00|| |
|6/27/2014||Walter F Siebecker||Director||Sell||1,427||$118.49||$169,085.23|| |
|6/26/2014||Scott A Billeadeau||Director||Sell||2,250||$117.40||$264,150.00|| |
|6/25/2014||Michael D Frankenfield||EVP||Sell||51,594||$117.04||$6,038,561.76|| |
|6/20/2014||Joseph E Laird Jr||Director||Sell||1,000||$116.49||$116,490.00|| |
|4/14/2014||Joseph Laird, Jr.||Director||Sell||1,000||$103.00||$103,000.00|| |
|4/4/2014||Rachel Rebecca Stern||SVP||Sell||1,546||$108.00||$166,968.00|| |
|4/2/2014||Peter Walsh||COO||Sell||30,252||$107.95||$3,265,703.40|| |
|1/15/2014||Philip Hadley||CEO||Sell||115,000||$107.61||$12,375,150.00|| |
|1/9/2014||Charles Snyder||Director||Sell||16,597||$106.51||$1,767,746.47|| |
|1/2/2014||Scott Billeadeau||Director||Sell||4,500||$108.58||$488,610.00|| |
|10/7/2013||Peter Walsh||COO||Sell||23,000||$112.22||$2,581,060.00|| |
|9/19/2013||Joseph Laird, Jr.||Director||Sell||2,000||$110.92||$221,840.00|| |
|7/15/2013||Joseph E Laird Jr||Director||Sell||1,000||$107.39||$107,390.00|| |
|7/15/2013||Michael D Frankenfield||EVP||Sell||40,881||$107.16||$4,380,807.96|| |
|7/8/2013||Joseph E Laird Jr||Director||Sell||1,000||$105.64||$105,640.00|| |
|7/3/2013||Kieran M Kennedy||SVP||Sell||2,031||$102.22||$207,608.82|| |
|7/2/2013||Peter G Walsh||COO||Sell||50,000||$103.23||$5,161,500.00|| |
|7/2/2013||Scott A Billeadeau||Director||Sell||4,500||$102.50||$461,250.00|| |
|7/1/2013||Joseph Zimmel||Director||Sell||18,752||$103.63||$1,943,269.76|| |
|7/1/2013||Maurizio Nicolelli||Insider||Sell||11,488||$103.18||$1,185,331.84|| |
|6/21/2013||Joseph E Laird Jr||Director||Sell||3,000||$99.87||$299,610.00|| |
|4/10/2013||Scott A Billeadeau||Director||Sell||2,950||$91.28||$269,276.00|| |
Latest Headlines for FactSet Research Systems (NYSE FDS)
FactSet Research Systems (NYSE FDS) Chart for Sunday, November, 19, 2017