FactSet price target lowered to $477 from $493 at Deutsche Bank

Deutsche Bank analyst Faiza Alwy lowered the firm’s price target on FactSet to $477 from $493 and keeps a Buy rating on the shares. The company reported "solid" results this quarter with a big margin beat, but the tone was more cautious with management indicating it is starting to see a more challenging environment for clients and are closely watching for signs of "reduced client budgets, elongated sales cycles, material layoffs, and a reduction in new firm creation," Alwy tells investors in a research note.