Is FactSet Research Systems Inc. (NYSE:FDS) a buy right now? Prominent investors are becoming less confident. The number of long hedge fund bets shrunk by 1 in recent months.
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Now, it’s important to take a glance at the latest action regarding FactSet Research Systems Inc. (NYSE:FDS).
What have hedge funds been doing with FactSet Research Systems Inc. (NYSE:FDS)?
In preparation for this year, a total of 10 of the hedge funds we track were long in this stock, a change of -9% from the previous quarter. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were upping their stakes substantially.
Of the funds we track, Renaissance Technologies, managed by Jim Simons, holds the largest position in FactSet Research Systems Inc. (NYSE:FDS). Renaissance Technologies has a $73 million position in the stock, comprising 0.2% of its 13F portfolio. On Renaissance Technologies’s heels is David Blood and Al Gore of Generation Investment Management, with a $63 million position; 1.5% of its 13F portfolio is allocated to the stock. Remaining hedgies with similar optimism include Ken Griffin’s Citadel Investment Group, Charles Akre’s Akre Capital Management and Chuck Royce’s Royce & Associates.
Because FactSet Research Systems Inc. (NYSE:FDS) has faced a declination in interest from the smart money, we can see that there lies a certain “tier” of money managers that slashed their full holdings at the end of the year. Interestingly, Israel Englander’s Millennium Management cut the biggest investment of the “upper crust” of funds we monitor, comprising close to $5 million in stock., and Paul Tudor Jones of Tudor Investment Corp was right behind this move, as the fund dropped about $0 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 1 funds at the end of the year.
How have insiders been trading FactSet Research Systems Inc. (NYSE:FDS)?
Insider buying is at its handiest when the company in question has seen transactions within the past six months. Over the last six-month time frame, FactSet Research Systems Inc. (NYSE:FDS) has seen zero unique insiders buying, and 7 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to FactSet Research Systems Inc. (NYSE:FDS). These stocks are IHS Inc. (NYSE:IHS), Broadridge Financial Solutions, Inc. (NYSE:BR), DST Systems, Inc. (NYSE:DST), Morningstar, Inc. (NASDAQ:MORN), and Dun & Bradstreet Corp (NYSE:DNB). This group of stocks belong to the information & delivery services industry and their market caps match FDS’s market cap.