FactSet Research Systems (NYSE:FDS) Updates FY24 Earnings Guidance

FactSet Research Systems (NYSE:FDS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $16.00-16.40 for the period, compared to the consensus earnings per share estimate of $16.32. The company issued revenue guidance of $2.18-2.19 billion, compared to the consensus revenue estimate of $2.19 billion.

FactSet Research Systems Stock Up 0.2 %

NYSE:FDS traded up $0.99 during midday trading on Friday, reaching $412.65. 4,278 shares of the stock traded hands, compared to its average volume of 260,798. The business has a 50-day moving average of $418.73 and a two-hundred day moving average of $441.68. The stock has a market capitalization of $15.70 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.41 and a beta of 0.75. FactSet Research Systems has a 12-month low of $391.84 and a 12-month high of $488.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.79 and a current ratio of 1.28.

FactSet Research Systems (NYSE:FDS) last released its quarterly earnings data on Friday, June 21st. The business services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.91 by $0.46. The firm had revenue of $552.70 million for the quarter, compared to analyst estimates of $552.71 million. FactSet Research Systems had a net margin of 23.56% and a return on equity of 34.48%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.79 earnings per share. On average, equities analysts forecast that FactSet Research Systems will post 16.29 earnings per share for the current fiscal year.

FactSet Research Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were paid a $1.04 dividend. The ex-dividend date was Friday, May 31st. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from FactSet Research Systems’s previous quarterly dividend of $0.98. FactSet Research Systems’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FDS shares. Royal Bank of Canada reiterated a sector perform rating and issued a $464.00 price objective on shares of FactSet Research Systems in a research note on Monday, June 24th. Jefferies Financial Group dropped their price objective on shares of FactSet Research Systems from $455.00 to $378.00 and set a hold rating for the company in a report on Wednesday, June 5th. Morgan Stanley boosted their price target on shares of FactSet Research Systems from $350.00 to $355.00 and gave the stock an underweight rating in a report on Monday, June 24th. 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 objective for the company. Finally, Bank of America downgraded shares of FactSet Research Systems from a neutral rating to an underperform rating and reduced their price target for the company from $500.00 to $407.00 in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $432.00.

Insider Activity

In related news, CAO Gregory T. Moskoff sold 330 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $419.50, for a total value of $138,435.00. Following the completion of the sale, the chief accounting officer now owns 72 shares in the company, valued at $30,204. The sale 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, CAO Gregory T. Moskoff sold 330 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $419.50, for a total transaction of $138,435.00. Following the completion of the sale, the chief accounting officer now directly owns 72 shares in the company, valued at $30,204. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Katherine M. Stepp sold 1,057 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $428.42, for a total transaction of $452,839.94. Following the transaction, the chief technology officer now directly owns 687 shares in the company, valued at $294,324.54. The disclosure for this sale can be found here. Insiders have sold a total of 27,419 shares of company stock valued at $11,606,013 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.