FactSet Research Systems (NYSE:FDS) recently hit a new 52-week low after Wells Fargo & Company downgraded its price target and issued an “underweight” rating. The stock traded as low as $189.16 following several analyst downgrades, despite the company reporting better-than-expected quarterly earnings and authorizing a $600 million share buyback. Insiders, however, sold significant portions of their holdings, with two directors reducing their ownership by over 70%.
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FactSet Research Systems (NYSE:FDS) Reaches New 12-Month Low Following Analyst Downgrade
FactSet Research Systems (NYSE:FDS) recently hit a new 52-week low after Wells Fargo & Company downgraded its price target and issued an “underweight” rating. The stock traded as low as $189.16 following several analyst downgrades, despite the company reporting better-than-expected quarterly earnings and authorizing a $600 million share buyback. Insiders, however, sold significant portions of their holdings, with two directors reducing their ownership by over 70%.