Wealthfront Increases Stake in FactSet Research Systems by 10.5%

Wealthfront Advisers LLC has raised its position in FactSet Research Systems Inc. (NYSE: FDS) by 10.5% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now owns 2,962 shares of the business services provider after acquiring an additional 282 shares during the quarter. The total value of Wealthfront’s holdings in FactSet is approximately $1,325,000.

Other institutional investors have also adjusted their stakes in FactSet Research Systems. For instance, Alps Advisors Inc. increased its position by 3.1% during the first quarter, now holding 822 shares valued at $374,000. Similarly, Integrated Investment Consultants LLC raised its investment by 0.8% to 3,056 shares, worth $1,389,000 after purchasing an additional 25 shares.

Other notable changes include Horizon Investments LLC, which increased its stake by 4.8%, and ORG Partners LLC, which raised its position by 13.9% during the second quarter. Collectively, institutional investors own about 91.24% of FactSet’s stock.

FactSet Research Systems Stock Performance

FactSet’s stock opened at $268.57 on the most recent trading day. The company demonstrates a solid financial standing with a current ratio of 1.40 and a quick ratio of 1.40. Its debt-to-equity ratio stands at 0.63, indicating a manageable level of debt. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 17.27, and a beta of 0.79. Over the past year, FactSet’s stock has seen a low of $266.13 and a high of $499.87.

Recently, FactSet also declared a quarterly dividend, which was paid on September 18, 2023. Shareholders registered on August 29, 2023 received a dividend of $1.10 per share, translating to an annualized dividend of $4.40 and a yield of 1.6%. The company’s payout ratio currently stands at 28.30%.

Insider Activity and Analyst Ratings

In related developments, Helen L. Shan, Executive Vice President, purchased 370 shares of FactSet on October 6, 2023, at an average price of $275.48 per share, totaling $101,927.60. Following this transaction, Shan now owns 9,284 shares valued at approximately $2,557,556.32, marking a 4.15% increase in her holdings. Another insider, Christopher Mcloughlin, acquired 338 shares at an average price of $296.19 on September 23, 2023, increasing his stake by 10.88%.

Analysts have recently revised their price targets for FactSet shares. Barclays lowered its target from $390.00 to $300.00 and assigned an “underweight” rating. Morgan Stanley similarly reduced its target from $393.00 to $293.00, while Stifel Nicolaus adjusted its target from $464.00 to $372.00 with a “hold” rating. Wells Fargo cut its price objective from $355.00 to $296.00 and assigned an “underweight” rating.

Currently, one analyst rates the stock as a “Buy,” while eight have assigned a “Hold” rating and five have issued a “Sell” rating. According to data from MarketBeat, FactSet Research Systems holds an average rating of “Reduce” with a consensus target price of $356.78.

FactSet Research Systems Inc. provides integrated financial information and analytical applications to the investment community across various regions, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company’s solutions encompass research, analytics, trading, content, technology, and wealth management, making it a critical player in the financial data sector.