Wells Fargo & Company Cuts FactSet Research Systems (NYSE:FDS) Price Target to $500.00

FactSet Research Systems (NYSE:FDS - Free Report) had its price objective reduced by Wells Fargo & Company from $503.00 to $500.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the business services provider's stock.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $503.00 price objective on shares of FactSet Research Systems in a research note on Friday, December 20th. Stifel Nicolaus boosted their target price on FactSet Research Systems from $469.00 to $493.00 and gave the company a "hold" rating in a research report on Friday, December 20th. UBS Group boosted their target price on FactSet Research Systems from $485.00 to $525.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. BMO Capital Markets cut their target price on FactSet Research Systems from $521.00 to $518.00 and set a "market perform" rating on the stock in a research report on Monday, December 23rd. Finally, Morgan Stanley boosted their target price on FactSet Research Systems from $373.00 to $409.00 and gave the company an "underweight" rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, FactSet Research Systems currently has an average rating of "Hold" and a consensus price target of $453.23.

FactSet Research Systems Price Performance

NYSE:FDS traded down $1.95 during trading hours on Tuesday, reaching $457.44. The stock had a trading volume of 87,632 shares, compared to its average volume of 304,626. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.39 and a current ratio of 1.39. FactSet Research Systems has a 52 week low of $391.84 and a 52 week high of $499.87. The company has a 50 day moving average price of $472.18 and a two-hundred day moving average price of $457.32. The stock has a market capitalization of $17.40 billion, a PE ratio of 32.79, a PEG ratio of 2.95 and a beta of 0.77.

FactSet Research Systems (NYSE:FDS - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.25 by $0.12. FactSet Research Systems had a return on equity of 33.92% and a net margin of 24.16%. The business had revenue of $568.70 million for the quarter, compared to the consensus estimate of $565.14 million. During the same quarter in the previous year, the company posted $4.12 EPS. The company's revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that FactSet Research Systems will post 17.21 earnings per share for the current fiscal year.

FactSet Research Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, February 28th. FactSet Research Systems's dividend payout ratio is 29.82%.

Institutional Investors Weigh In On FactSet Research Systems

Several hedge funds have recently made changes to their positions in FDS. Raymond James Trust N.A. lifted its stake in shares of FactSet Research Systems by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 948 shares of the business services provider's stock worth $436,000 after purchasing an additional 21 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of FactSet Research Systems by 1.4% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,572 shares of the business services provider's stock worth $755,000 after purchasing an additional 22 shares during the last quarter. Allworth Financial LP lifted its stake in shares of FactSet Research Systems by 19.1% during the 4th quarter. Allworth Financial LP now owns 137 shares of the business services provider's stock worth $64,000 after purchasing an additional 22 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of FactSet Research Systems by 8.2% during the 4th quarter. Private Trust Co. NA now owns 291 shares of the business services provider's stock worth $140,000 after purchasing an additional 22 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of FactSet Research Systems by 2.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,214 shares of the business services provider's stock worth $583,000 after purchasing an additional 24 shares during the last quarter. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

About FactSet Research Systems

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.