Penobscot Investment Management Company Inc. Decreases Stake in FactSet Research Systems Inc. (NYSE:FDS)

Penobscot Investment Management Company Inc. lowered its stake in FactSet Research Systems Inc. (NYSE:FDS) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,210 shares of the business services provider’s stock after selling 90 shares during the period. Penobscot Investment Management Company Inc.’s holdings in FactSet Research Systems were worth $2,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BKM Wealth Management LLC acquired a new stake in FactSet Research Systems during the fourth quarter valued at $1,174,000. Stratos Wealth Partners LTD. grew its position in shares of FactSet Research Systems by 12.6% in the third quarter. Stratos Wealth Partners LTD. now owns 2,118 shares of the business services provider’s stock valued at $926,000 after purchasing an additional 237 shares during the period. Advisors Preferred LLC acquired a new stake in shares of FactSet Research Systems in the fourth quarter valued at about $2,024,000. abrdn plc grew its position in shares of FactSet Research Systems by 17.4% in the fourth quarter. abrdn plc now owns 68,911 shares of the business services provider’s stock valued at $32,874,000 after purchasing an additional 10,230 shares during the period. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of FactSet Research Systems in the fourth quarter valued at about $8,833,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.

FactSet Research Systems Stock Performance

FDS stock traded down $4.23 on Tuesday, hitting $418.71. The company’s stock had a trading volume of 69,010 shares, compared to its average volume of 238,897. The firm has a 50 day moving average of $449.84 and a two-hundred day moving average of $454.81. FactSet Research Systems Inc. has a 1 year low of $380.96 and a 1 year high of $488.64. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.59 and a beta of 0.72. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.83.

FactSet Research Systems (NYSE:FDS) last released its quarterly earnings results on Thursday, March 21st. The business services provider reported $4.22 EPS for the quarter, beating the consensus estimate of $3.83 by $0.39. FactSet Research Systems had a net margin of 22.72% and a return on equity of 34.36%. The firm had revenue of $545.95 million during the quarter, compared to the consensus estimate of $547.93 million. Equities analysts predict that FactSet Research Systems Inc. will post 15.83 EPS for the current fiscal year.

FactSet Research Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.94%. FactSet Research Systems’s dividend payout ratio is presently 31.04%.

Insider Activity

In related news, CEO Frederick Philip Snow sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $476.02, for a total value of $1,428,060.00. Following the sale, the chief executive officer now directly owns 12,915 shares of the company’s stock, valued at approximately $6,147,798.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $464.00 price target on shares of FactSet Research Systems in a research report on Friday, March 22nd. Stifel Nicolaus restated a “hold” rating and set a $469.00 price target on shares of FactSet Research Systems in a research report on Friday, March 22nd. BMO Capital Markets boosted their price target on shares of FactSet Research Systems from $447.00 to $458.00 and gave the stock a “market perform” rating in a research report on Monday, March 25th. Wolfe Research initiated coverage on shares of FactSet Research Systems in a research report on Thursday, April 11th. They set an “underperform” rating and a $430.00 price target on the stock. Finally, Oppenheimer reissued a “market perform” rating on shares of FactSet Research Systems in a research note on Friday, March 22nd. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $442.70.

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.