State of New Jersey Common Pension Fund D Reduces Stake in FactSet Research Systems Inc. (NYSE:FDS)

Market Beat
2024.09.16 08:23

State of New Jersey Common Pension Fund D has reduced its stake in FactSet Research Systems Inc. (NYSE:FDS) by 32.4% in Q2, now holding 14,079 shares valued at $2,748,000. Other institutional investors have also adjusted their positions, with significant increases in holdings by UMB Bank, Crewe Advisors, and Quest Partners. Analysts have mixed ratings on FDS, with a consensus hold rating and a target price of $327. The stock opened at $336.36, with a 12-month range of $284.84 to $364.64, and reported earnings of $2.37 per share, exceeding estimates.

State of New Jersey Common Pension Fund D reduced its position in FactSet Research Systems Inc. (NYSE:FDS - Free Report) by 32.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,079 shares of the business services provider's stock after selling 6,740 shares during the period. State of New Jersey Common Pension Fund D's holdings in FactSet Research Systems were worth $5,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

  • FactSet Research Systems Falls Into The Buy Zone

A number of other institutional investors and hedge funds have also recently modified their holdings of FDS. UMB Bank n.a. raised its holdings in FactSet Research Systems by 144.4% in the 2nd quarter. UMB Bank n.a. now owns 66 shares of the business services provider's stock worth $27,000 after purchasing an additional 39 shares during the period. Crewe Advisors LLC raised its holdings in FactSet Research Systems by 750.0% in the 2nd quarter. Crewe Advisors LLC now owns 68 shares of the business services provider's stock worth $28,000 after purchasing an additional 60 shares during the period. Quest Partners LLC raised its holdings in FactSet Research Systems by 6,700.0% in the 2nd quarter. Quest Partners LLC now owns 68 shares of the business services provider's stock worth $28,000 after purchasing an additional 67 shares during the period. Gladius Capital Management LP bought a new position in FactSet Research Systems in the 2nd quarter worth $33,000. Finally, SJS Investment Consulting Inc. raised its holdings in FactSet Research Systems by 300.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 88 shares of the business services provider's stock worth $36,000 after purchasing an additional 66 shares during the period. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDS has been the topic of a number of recent research reports. Wells Fargo & Company raised FactSet Research Systems to a "hold" rating in a report on Tuesday, August 13th. Morgan Stanley raised their price target on FactSet Research Systems from $350.00 to $355.00 and gave the company an "underweight" rating in a report on Monday, June 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $464.00 price target on shares of FactSet Research Systems in a report on Monday, June 24th. Jefferies Financial Group decreased their price target on FactSet Research Systems from $455.00 to $378.00 and set a "hold" rating on the stock in a report on Wednesday, June 5th. Finally, Bank of America cut FactSet Research Systems from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $500.00 to $407.00 in a report on Thursday, May 30th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $432.27.


  • Factset Research Systems, Going Parabolic And Gaining Momentum

View Our Latest Analysis on FDS

FactSet Research Systems Trading Up 1.2 %

Shares of FDS stock opened at $445.36 on Monday. FactSet Research Systems Inc. has a 12-month low of $391.84 and a 12-month high of $488.64. The company has a current ratio of 1.28, a quick ratio of 1.79 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average price is $417.70 and its 200-day moving average price is $428.31. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75.

  • FactSet Research Systems Pulls Back On Mixed Results

FactSet Research Systems (NYSE:FDS - Get Free Report) last issued its earnings results on Friday, June 21st. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.91 by $0.46. The firm had revenue of $552.70 million for the quarter, compared to analysts' expectations of $552.71 million. FactSet Research Systems had a return on equity of 34.48% and a net margin of 23.56%. The business's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.79 earnings per share. Equities research analysts predict that FactSet Research Systems Inc. will post 16.28 EPS for the current fiscal year.

FactSet Research Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.16 annualized dividend and a yield of 0.93%. FactSet Research Systems's payout ratio is currently 31.37%.

Insiders Place Their Bets

In other FactSet Research Systems news, CTO Katherine M. Stepp sold 1,057 shares of the business's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $428.42, for a total transaction of $452,839.94. Following the sale, the chief technology officer now directly owns 687 shares of the company's stock, valued at $294,324.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Frederick Philip Snow sold 3,000 shares of FactSet Research Systems stock in a transaction on Monday, July 1st. The stock was sold at an average price of $408.98, for a total transaction of $1,226,940.00. Following the completion of the sale, the chief executive officer now directly owns 12,915 shares in the company, valued at $5,281,976.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Katherine M. Stepp sold 1,057 shares of the company's stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $428.42, for a total transaction of $452,839.94. Following the completion of the transaction, the chief technology officer now owns 687 shares in the company, valued at $294,324.54. The disclosure for this sale can be found here. Insiders have sold 12,432 shares of company stock valued at $5,166,986 over the last ninety days. 1.00% of the stock is owned by insiders.

About FactSet Research Systems

(Free Report)

FactSet Research Systems Inc, a financial data company, provides integrated financial information and analytical applications to the investment community in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company delivers insight and information through the workflow solutions of research, analytics and trading, content and technology solutions, and wealth.

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