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FactSet Research Systems (NYSE: FDS | NASDAQ: FDS) is a global leader in providing financial data, analytics, and enterprise solutions to investment management and investment banking professionals worldwide. With a focus on technological innovation and client service, FactSet delivers instant access to comprehensive financial data and sophisticated analytic tools to thousands of analysts, portfolio managers, and investment bankers at the world’s leading financial institutions.
Founded on a commitment to creatively leveraging technology, FactSet continually evolves its software to stay ahead of industry demands. Their suite of tools enables users to conduct high-level investment research, supported by unparalleled client service through individual consultant contacts and 24-hour personal support. Recognized among Fortune's '100 Best Companies to Work For,' FactSet also integrates a strong culture of employee satisfaction and growth.
FactSet's core business revolves around aggregating data from third-party suppliers, news sources, exchanges, and brokerages into its robust workstation platform. This platform is essential for providing portfolio analytics and addressing reporting requirements for their extensive client base, with buy-side clients making up 82% of FactSet's annual subscription value.
The company has made significant acquisitions to broaden its capabilities, including Portware in 2015, BISAM in 2017, and CUSIP Global Services in 2022. These strategic acquisitions have enhanced FactSet's offerings in trade execution, risk management, and performance measurement, solidifying its position as a comprehensive solution provider.
FactSet recently launched its first interactive GenAI product, the Transcript Assistant, within its workstation. This tool leverages generative AI to help users efficiently search, analyze, and extract actionable insights from transcripts, thus enhancing the investment research process. FactSet continues to push the envelope in AI and machine learning to improve decision-making and drive productivity for its clients.
Financially, FactSet remains strong, with consistent revenue growth and strategic investments in technology. The company’s commitment to innovation and client service ensures that it remains a vital partner to the global investment community.
For more information, visit www.factset.com and follow FactSet on Twitter and LinkedIn.
FactSet (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform provider, has appointed Kristina Karnovsky as Executive Vice President and Head of the Dealmakers and Wealth group, effective September 1. Karnovsky, currently serving as EVP and Chief Product Officer, brings 23 years of experience at FactSet to her new role. She succeeds Goran Skoko, who will become Chief Revenue Officer.
In her previous role, Karnovsky led key enterprise-level capabilities and drove advancements in FactSet's enterprise GenAI strategy. She also headed Research Solutions, overseeing global strategy and product development for major clients. CEO Philip Snow expressed confidence in Karnovsky's abilities, citing her deep product knowledge and client rapport.
In her new position, Karnovsky will be responsible for setting strategy for wealth, banking, and dealmaking clients, expanding market share, and strengthening client relationships. This leadership change underscores FactSet's commitment to product innovation and client-focused solutions.
FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, has announced a regular quarterly cash dividend of $1.04 per share. The dividend will be paid on September 19, 2024, to shareholders of record at the close of business on August 30, 2024. This announcement demonstrates FactSet's commitment to returning value to its shareholders and reflects the company's financial stability. The consistent dividend payout suggests confidence in FactSet's ongoing financial performance and cash flow generation capabilities.
FactSet (NYSE:FDS) (NASDAQ:FDS), a global financial digital platform provider, has announced significant leadership changes. Helen Shan, currently Executive VP and Chief Revenue Officer, has been appointed Chief Financial Officer, effective immediately. Shan, who previously served as CFO from 2018 to 2021, succeeds Linda Huber. During her previous CFO tenure, Shan executed successful financial strategies, expanded FactSet's solutions, and drove increased margins and earnings.
Goran Skoko, currently Executive VP, Managing Director of EMEA and Asia Pacific, will become the new Chief Revenue Officer, effective September 1, 2024. Skoko brings two decades of sales, product, and engineering experience at FactSet. The company has reaffirmed its full-year fiscal 2024 guidance, as previously provided on June 21, 2024.
FactSet reported its Q3 2024 results, showing a 4.3% increase in GAAP revenues to $552.7 million compared to Q3 2023. Organic ASV plus professional services grew by 5.0% year over year to $2,220.4 million. The GAAP operating margin improved to 36.6%, up 420 basis points, while the adjusted operating margin rose to 39.4%, a 340 basis point increase from the previous year. GAAP diluted EPS increased by 18.2% to $4.09 and adjusted diluted EPS by 15.3% to $4.37.
The company updated its fiscal 2024 guidance, expecting organic ASV plus professional services growth of $85-$120 million, GAAP revenues between $2,180 and $2,190 million, an adjusted operating margin of 37.0%-37.5%, and adjusted diluted EPS of $16.00-$16.40.
Key financial measures include a 17.7% increase in operating income to $202.5 million, a 17.4% rise in net income to $158.1 million, and a 16.9% increase in adjusted EBITDA to $239.9 million.
Aidentified has announced a $12.5 million Series B funding round led by FactSet, a renowned provider of financial data and analytics. The AI-powered prospecting and relationship intelligence platform aims to leverage this investment to enhance its technology and expand its workforce. Aidentified serves professionals in financial services, providing tools to identify, qualify, and convert new clients. With a vast dataset mapping billions of connections, Aidentified's platform enables strategic prospecting powered by AI. The funding will support continued growth and client adoption, as highlighted by executives from both Aidentified and FactSet.
FactSet (NYSE: FDS | NASDAQ: FDS) will announce its Q3 2024 financial and operating results on June 21, 2024. The results cover the fiscal period ending May 31, 2024. A conference call to discuss these results will be held at 11:00 a.m. Eastern Time on the same day. Investors can register for the call using the provided link, which will give them dial-in numbers and a unique access pin. The call will include a live Q&A session, and presentation slides will be available on FactSet's investor relations website 30 minutes prior to the call. A replay of the call will be available from 1:00 p.m. Eastern Time on June 21, 2024, through June 21, 2025.
FactSet announced that Linda Huber, CFO, will participate in a fireside chat at the Barclays Americas Select Franchise Conference in London. Investors can register for the event and access a replay on FactSet's investor relations website.
FactSet, a global financial digital platform and enterprise solutions provider, announced a 6% increase in its regular quarterly cash dividend from $0.98 to $1.04 per share. This marks the twenty-fifth consecutive year of dividend increases, showcasing the company's dedication to shareholder value. The dividend will be paid on June 20, 2024, to shareholders of record as of May 31, 2024.
FactSet introduces Portfolio Commentary, an AI-powered solution enhancing performance attribution analysis for buy-side and wealth management professionals. It provides deep insights into relative performance, key company drivers, direct source-linking, and streamlined stakeholder communication, significantly improving efficiency and decision-making.
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