Peapack Gladstone Financial Corp Cuts Holdings in FactSet Research Systems Inc. (NYSE:FDS)

Peapack Gladstone Financial Corp cut its stake in shares of FactSet Research Systems Inc. (NYSE:FDS) by 15.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 660 shares of the business services provider’s stock after selling 118 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in FactSet Research Systems were worth $304,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in FactSet Research Systems by 2,873.9% during the 2nd quarter. Millennium Management LLC now owns 119,582 shares of the business services provider’s stock worth $48,822,000 after acquiring an additional 115,561 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of FactSet Research Systems during the third quarter worth $38,909,000. State Street Corp increased its holdings in FactSet Research Systems by 2.2% in the third quarter. State Street Corp now owns 1,932,376 shares of the business services provider’s stock valued at $888,603,000 after buying an additional 42,303 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in FactSet Research Systems by 21.5% in the second quarter. Dimensional Fund Advisors LP now owns 235,387 shares of the business services provider’s stock valued at $96,113,000 after buying an additional 41,717 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in FactSet Research Systems by 9.3% during the 3rd quarter. Boston Trust Walden Corp now owns 296,329 shares of the business services provider’s stock worth $136,267,000 after buying an additional 25,294 shares during the last quarter. 91.24% of the stock is currently owned by hedge funds and other institutional investors.

FactSet Research Systems Stock Performance

NYSE:FDS opened at $487.67 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 3.15 and a beta of 0.76. The firm’s fifty day moving average price is $475.22 and its 200 day moving average price is $441.09. FactSet Research Systems Inc. has a 1-year low of $391.84 and a 1-year high of $499.87.

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

FactSet Research Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.85%. FactSet Research Systems’s dividend payout ratio (DPR) is presently 29.93%.

Insider Buying and Selling

In related news, insider John Costigan sold 1,622 shares of FactSet Research Systems stock in a transaction on Monday, November 11th. The stock was sold at an average price of $481.00, for a total transaction of $780,182.00. Following the completion of the transaction, the insider now directly owns 299 shares of the company’s stock, valued at approximately $143,819. The trade was a 84.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Frederick Philip Snow sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $455.09, for a total value of $1,365,270.00. Following the completion of the sale, the chief executive officer now directly owns 12,987 shares in the company, valued at $5,910,253.83. This trade represents a 18.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,984 shares of company stock valued at $10,981,107 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

FDS has been the topic of several research analyst reports. Evercore ISI began coverage on FactSet Research Systems in a research report on Wednesday, October 2nd. They set an “inline” rating and a $470.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of FactSet Research Systems from $435.00 to $503.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Redburn Atlantic downgraded shares of FactSet Research Systems from a “neutral” rating to a “sell” rating and dropped their target price for the company from $420.00 to $380.00 in a research report on Wednesday, October 9th. BMO Capital Markets upped their price objective on shares of FactSet Research Systems from $471.00 to $521.00 and gave the company a “market perform” rating in a research note on Friday, November 15th. Finally, UBS Group lifted their target price on FactSet Research Systems from $485.00 to $525.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a sell rating and eight have given 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 $451.85.

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.