Chevy Chase Trust Holdings LLC Trims Stake in FactSet Research Systems Inc. (NYSE:FDS)

10 Jul 2024, 19:00 by Kim Johansen · The Markets Daily

Chevy Chase Trust Holdings LLC reduced its holdings in shares of FactSet Research Systems Inc. (NYSE:FDS – Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,530 shares of the business services provider’s stock after selling 66 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of FactSet Research Systems worth $9,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDS. Norges Bank bought a new position in shares of FactSet Research Systems during the fourth quarter worth $47,977,000. International Assets Investment Management LLC purchased a new stake in FactSet Research Systems during the fourth quarter valued at $45,288,000. PineStone Asset Management Inc. raised its stake in FactSet Research Systems by 117.0% during the fourth quarter. PineStone Asset Management Inc. now owns 163,521 shares of the business services provider’s stock valued at $78,008,000 after purchasing an additional 88,173 shares in the last quarter. Norden Group LLC raised its stake in FactSet Research Systems by 1,844.5% during the first quarter. Norden Group LLC now owns 45,696 shares of the business services provider’s stock valued at $20,761,000 after purchasing an additional 43,346 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in FactSet Research Systems by 198.2% during the first quarter. BNP Paribas Financial Markets now owns 51,391 shares of the business services provider’s stock valued at $23,352,000 after purchasing an additional 34,156 shares in the last quarter. 91.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Frederick Philip Snow sold 3,000 shares of FactSet Research Systems stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $408.98, for a total value 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 approximately $5,281,976.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FactSet Research Systems news, EVP Goran Skoko sold 6,215 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $436.40, for a total transaction of $2,712,226.00. Following the completion of the transaction, the executive vice president now directly owns 5,262 shares of the company’s stock, valued at approximately $2,296,336.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick Philip Snow sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 12,915 shares of the company’s stock, valued at $5,281,976.70. The disclosure for this sale can be found here. Insiders sold 27,419 shares of company stock worth $11,606,013 in the last three months. Corporate insiders own 1.00% of the company’s stock.

FactSet Research Systems Stock Up 0.5 %

Shares of NYSE:FDS traded up $2.23 during trading on Wednesday, reaching $413.97. The stock had a trading volume of 73,278 shares, compared to its average volume of 263,165. FactSet Research Systems Inc. has a one year low of $391.84 and a one year high of $488.64. The company has a market capitalization of $15.75 billion, a P/E ratio of 31.05, a PEG ratio of 2.49 and a beta of 0.75. 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 firm’s 50-day simple moving average is $421.50 and its 200 day simple moving average is $445.04.

FactSet Research Systems (NYSE:FDS – Get Free Report) last released its quarterly earnings results on Friday, June 21st. The business services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.91 by $0.46. FactSet Research Systems had a net margin of 23.56% and a return on equity of 34.48%. The business had revenue of $552.70 million for the quarter, compared to analysts’ expectations of $552.71 million. During the same period last year, the business earned $3.79 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that FactSet Research Systems Inc. will post 16.33 EPS for the current fiscal year.

FactSet Research Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from FactSet Research Systems’s previous quarterly dividend of $0.98. This represents a $4.16 dividend on an annualized basis and a yield of 1.00%. FactSet Research Systems’s dividend payout ratio (DPR) is 31.37%.

Analyst Ratings Changes

A number of research firms recently issued reports on FDS. The Goldman Sachs Group upped their price target on shares of FactSet Research Systems from $377.00 to $419.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Stifel Nicolaus reissued a “hold” rating and issued a $469.00 target price on shares of FactSet Research Systems in a research note on Friday, March 22nd. Morgan Stanley increased their target price on shares of FactSet Research Systems from $350.00 to $355.00 and gave the company an “underweight” rating in a research note on Monday, June 24th. Oppenheimer reissued a “market perform” rating on shares of FactSet Research Systems in a research note on Friday, March 22nd. Finally, Wolfe Research assumed coverage on shares of FactSet Research Systems in a research note on Thursday, April 11th. They issued an “underperform” rating and a $430.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, FactSet Research Systems has an average rating of “Hold” and a consensus target price of $432.00.

Read Our Latest Stock Report on FDS

About FactSet Research Systems

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