Fjarde AP Fonden, the Fourth Swedish National Pension Fund, has increased its holdings in FactSet Research Systems Inc. (NYSE:FDS) by 13.0% during the second quarter of 2023. According to its recent Form 13F filing with the Securities and Exchange Commission, the fund acquired an additional 1,400 shares, bringing its total ownership to 12,139 shares valued at approximately $5,430,000.
The move reflects a broader trend among institutional investors who are adjusting their positions in the financial data services company. Notably, SouthState Corp raised its investment by an astonishing 1,400.0% in the first quarter, now holding 60 shares worth $27,000. Similarly, Caitong International Asset Management Co. Ltd increased its stake by 4,200.0% during the same period, owning 86 shares valued at $39,000 after acquiring 84 additional shares.
Institutional Investment Trends
Cullen Frost Bankers Inc. also made significant changes, boosting its position in FactSet Research Systems by 4,300.0% in the second quarter, now holding 88 shares worth $39,000. WPG Advisers LLC and Bank of Jackson Hole Trust joined the wave of institutional investors, respectively acquiring stakes worth $41,000 and increasing their holdings by 187.9%, bringing their total to 95 shares valued at $44,000. Overall, institutional investors and hedge funds now own 91.24% of the company’s stock.
Analysts have expressed mixed sentiments regarding FactSet’s performance. According to Zacks Research, the stock’s rating was downgraded from “hold” to “strong sell” on September 23, 2023. In contrast, Rothschild Redb upgraded the stock from “strong sell” to “hold” on September 12, indicating a divergence in analyst perspectives. Currently, one analyst rates the stock as a Buy, eight as Hold, and five as Sell, resulting in a consensus rating of “Reduce” with an average target price of $356.78.
Recent Insider Transactions and Stock Performance
In other developments, FactSet’s Executive Vice President, Helen L. Shan, purchased 370 shares on October 6, 2023, at an average price of $275.48 per share, totaling $101,927.60. This transaction increased her ownership to 9,284 shares, valued at approximately $2,557,556.32. Another insider, Christopher Mcloughlin, acquired 338 shares on September 23, 2023, at an average cost of $296.19, raising his total to 3,446 shares valued at about $1,020,670.74. Insiders currently hold 1.10% of the company’s stock.
FactSet Research Systems’ shares opened at $266.80 on Thursday, with a market capitalization of $9.98 billion. The stock has fluctuated significantly over the past year, recording a low of $266.62 and a high of $499.87. The company reported earnings of $4.05 per share in its latest quarterly announcement on September 18, 2023, missing analyst expectations of $4.13 by $0.08. Nonetheless, revenue for the quarter reached $596.90 million, surpassing estimates of $593.32 million.
FactSet also declared a quarterly dividend of $1.10, paid on September 18, 2023, to investors of record as of August 29, 2023. This dividend represents an annualized payout of $4.40 and a yield of 1.6%, with a dividend payout ratio of 28.30%.
FactSet Research Systems Inc. continues to play a vital role in providing integrated financial information and analytical applications across various global markets. As institutional interest grows, the company’s future performance remains a focal point for investors and analysts alike.
