Pinnacle Associates Ltd. Acquires New Stake in FactSet Research Systems Inc. (NYSE:FDS)

Pinnacle Associates Ltd. bought a new stake in FactSet Research Systems Inc. (NYSE:FDS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 507 shares of the business services provider’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of FactSet Research Systems by 144.4% during the second 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 last quarter. Crewe Advisors LLC lifted its position in FactSet Research Systems by 750.0% during the second quarter. Crewe Advisors LLC now owns 68 shares of the business services provider’s stock worth $28,000 after buying an additional 60 shares during the period. Quest Partners LLC grew 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 valued at $28,000 after buying an additional 67 shares during the period. Gladius Capital Management LP acquired a new position in shares of FactSet Research Systems during the 2nd quarter valued at about $33,000. Finally, SJS Investment Consulting Inc. raised its stake in FactSet Research Systems by 300.0% during the second 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.

FactSet Research Systems Price Performance

FDS stock opened at $458.80 on Monday. The stock’s 50 day moving average is $449.81 and its two-hundred day moving average is $429.90. FactSet Research Systems Inc. has a 52-week low of $391.84 and a 52-week high of $488.64. The company has a market capitalization of $17.43 billion, a PE ratio of 33.01, a P/E/G ratio of 3.00 and a beta of 0.75. The company has a quick ratio of 1.79, a current ratio of 1.25 and a debt-to-equity ratio of 0.65.

FactSet Research Systems (NYSE:FDS) last issued its quarterly earnings results on Thursday, September 19th. The business services provider reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.12. FactSet Research Systems had a net margin of 24.38% and a return on equity of 34.77%. The business had revenue of $562.20 million during the quarter, compared to analyst estimates of $547.06 million. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that FactSet Research Systems Inc. will post 17.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frederick Philip Snow sold 3,000 shares of FactSet Research Systems stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $416.59, for a total value of $1,249,770.00. Following the completion of the transaction, the chief executive officer now directly owns 12,915 shares in the company, valued at approximately $5,380,259.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James J. Mcgonigle sold 5,410 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $456.83, for a total value of $2,471,450.30. Following the transaction, the director now directly owns 5,283 shares in the company, valued at approximately $2,413,432.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick Philip Snow sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $416.59, for a total transaction of $1,249,770.00. Following the sale, the chief executive officer now directly owns 12,915 shares of the company’s stock, valued at approximately $5,380,259.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,362 shares of company stock worth $11,450,695. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FDS has been the topic of several research analyst reports. UBS Group lifted their price objective on FactSet Research Systems from $455.00 to $485.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Redburn Atlantic lowered shares of FactSet Research Systems from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $420.00 to $380.00 in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of FactSet Research Systems from $451.00 to $469.00 and gave the company a “hold” rating in a report on Friday, September 20th. Evercore ISI began coverage on FactSet Research Systems in a report on Wednesday, October 2nd. They issued an “inline” rating and a $470.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on FactSet Research Systems from $435.00 to $503.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $443.57.

FactSet Research Systems Company Profile

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.