Morgan Stanley Boosts FactSet Research Systems (NYSE:FDS) Price Target to $220.00

FactSet Research Systems (NYSE:FDS) had its target price raised by investment analysts at Morgan Stanley from $211.00 to $220.00 in a research note issued to investors on Wednesday, March 27th, AnalystRatings.com reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 16.07% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald decreased their price target on FactSet Research Systems to $209.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Barclays upgraded FactSet Research Systems from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $210.00 to $235.00 in a research note on Friday, December 7th. Piper Jaffray Companies lifted their target price on FactSet Research Systems from $211.00 to $262.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Deutsche Bank lifted their target price on FactSet Research Systems from $217.00 to $245.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, Credit Suisse Group began coverage on FactSet Research Systems in a research report on Friday, December 7th. They set a “neutral” rating and a $238.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $236.18.

Shares of NYSE FDS traded up $3.74 during midday trading on Wednesday, reaching $262.12. 262,116 shares of the company’s stock were exchanged, compared to its average volume of 283,217. FactSet Research Systems has a 52-week low of $184.48 and a 52-week high of $265.77. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.45 and a current ratio of 2.45.

FactSet Research Systems (NYSE:FDS) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.42 EPS for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.08. The business had revenue of $354.90 million during the quarter, compared to the consensus estimate of $356.46 million. FactSet Research Systems had a return on equity of 64.58% and a net margin of 22.45%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $2.12 earnings per share. As a group, research analysts predict that FactSet Research Systems will post 9.59 EPS for the current year.

In other FactSet Research Systems news, CEO Frederick Philip Snow sold 1,182 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $218.62, for a total value of $258,408.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert J. Robie sold 10,459 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $241.34, for a total value of $2,524,175.06. Following the completion of the transaction, the executive vice president now directly owns 4,331 shares in the company, valued at approximately $1,045,243.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,006 shares of company stock worth $3,357,131. 2.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FDS. FMR LLC grew its position in FactSet Research Systems by 2.0% during the 3rd quarter. FMR LLC now owns 68,999 shares of the business services provider’s stock worth $15,435,000 after purchasing an additional 1,329 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in FactSet Research Systems by 72.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,134 shares of the business services provider’s stock worth $701,000 after purchasing an additional 1,317 shares in the last quarter. Credit Suisse AG grew its holdings in shares of FactSet Research Systems by 8.2% during the 3rd quarter. Credit Suisse AG now owns 43,991 shares of the business services provider’s stock valued at $9,840,000 after acquiring an additional 3,323 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of FactSet Research Systems during the 3rd quarter valued at $139,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of FactSet Research Systems by 11.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 198,775 shares of the business services provider’s stock valued at $44,468,000 after acquiring an additional 19,825 shares in the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.

About FactSet Research Systems

FactSet Research Systems Inc provides integrated financial information and analytical applications to the investment community in the United States, Europe, and the Asia Pacific. The company delivers insight and information to financial investment professionals through its analytics, services, contents, and technologies.

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