FactSet Research Systems (FDS) to Buyback $300.00 million in Shares

FactSet Research Systems (NYSE:FDS) announced that its board has authorized a stock buyback program, which permits the company to buyback $300.00 million in shares on Tuesday, March 27th. This buyback authorization permits the business services provider to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of FactSet Research Systems from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a report on Tuesday, March 20th. DA Davidson raised their price objective on shares of FactSet Research Systems to $185.00 and gave the stock a “neutral” rating in a report on Thursday, March 15th. Northcoast Research lowered shares of FactSet Research Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Morgan Stanley raised their price objective on shares of FactSet Research Systems from $186.00 to $192.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 28th. Finally, Piper Jaffray reaffirmed a “hold” rating and set a $197.00 price objective on shares of FactSet Research Systems in a report on Wednesday, March 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. FactSet Research Systems presently has a consensus rating of “Hold” and a consensus price target of $192.00.

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FDS opened at $199.42 on Monday. FactSet Research Systems has a one year low of $155.09 and a one year high of $217.36. The company has a current ratio of 2.53, a quick ratio of 2.64 and a debt-to-equity ratio of 0.94. The company has a market cap of $7,782.17, a PE ratio of 27.28, a P/E/G ratio of 2.17 and a beta of 0.90.

FactSet Research Systems (NYSE:FDS) last released its quarterly earnings results on Tuesday, March 27th. The business services provider reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.06. FactSet Research Systems had a net margin of 19.07% and a return on equity of 54.00%. The business had revenue of $335.20 million for the quarter, compared to analysts’ expectations of $333.78 million. During the same period in the prior year, the firm earned $1.81 earnings per share. FactSet Research Systems’s revenue was up 13.9% compared to the same quarter last year. equities analysts anticipate that FactSet Research Systems will post 8.47 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $0.56 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.24 dividend on an annualized basis and a yield of 1.12%. FactSet Research Systems’s payout ratio is presently 30.64%.

In other FactSet Research Systems news, COO Mark J. Hale sold 48,001 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $198.43, for a total value of $9,524,838.43. Following the transaction, the chief operating officer now directly owns 6,268 shares of the company’s stock, valued at $1,243,759.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Matthew J. Mcnulty sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $198.00, for a total transaction of $198,000.00. Following the completion of the transaction, the vice president now directly owns 2,848 shares in the company, valued at $563,904. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,606 shares of company stock worth $10,418,001. Insiders own 2.70% of the company’s stock.

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About FactSet Research Systems

Factset Research Systems Inc is engaged in providing integrated financial information and big data analytical applications for the global investment community. The Company’s segments include the U.S., Europe and Asia Pacific. The U.S. segment services finance professionals, including financial institutions throughout the Americas.

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