FactSet Research Systems (FDS) PT Raised to $330 at Deutsche Bank
Deutsche Bank analyst Ashish Sabadra raised the price target on FactSet Research Systems (NYSE: FDS) to $330.00 (from $315.00) while maintaining a Hold rating.
The analyst commented, "FDS reported mixed 3Q21 results with ASV above consensus due to higher sales of analytics and content and technology solutions (CTS) as organic revenues grew 5.9% during 3Q21 helped by international price increases but EPS was below consensus due to lower margins. Revenues of $399.6 million increased 6.8% and were a tad above the $398m consensus as ASV plus professional services came in at $1.62 billion vs. consensus of $1.60 billion. Adjusted operating margin decreased to 31.6% compared with 35.5% in the prior year period primarily as a result of higher spending for the company's multi-year investment plan as well as increased performance based compensation reflecting the acceleration in ASV. Adjusted EPS came in at $2.72 vs. $2.77 consensus as higher revenue was offset by higher operating expenses."