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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 Research Systems has appointed Elisha Wiesel to its Board of Directors. Wiesel brings extensive experience, having spent 25 years at Goldman Sachs, where he held leadership roles including Chief Risk Officer. He is a founding partner of ClearAlpha Technologies and chair of Entrio, an Israeli fintech start-up. Wiesel expressed his excitement about joining FactSet, known for its innovative culture and focus on engineering talent. Robin Abrams, Chair of the Board, highlighted Wiesel's knowledge of the markets and technology, anticipating that his contributions will enhance FactSet's innovation and performance.
FactSet reported Q2 fiscal 2023 revenues of $515.1 million, a 19.5% increase from the previous year, primarily driven by the acquisition of CUSIP Global Services and higher sales in Content & Technology and Analytics & Trading. GAAP operating margin grew to 32.9%, while diluted EPS jumped 19.0% to $3.38. The company revised its fiscal 2023 guidance, projecting ASV plus professional services growth of 7%-9% and adjusted EPS growth of 8%-11%. Adjusted EBITDA also increased significantly by 35.8% to $199.7 million.
FactSet (NYSE: FDS | NASDAQ: FDS) will host a Fixed Income/Bond Holder conference call on April 13, 2023, from 9:30 a.m. to 10:30 a.m. Eastern Time. CEO Phil Snow and CFO Linda Huber will discuss the company’s recent performance, followed by a live Q&A session. Participants must register in advance to receive dial-in details. A replay of the call will be available on the investor relations website after 1:00 p.m. on the same day and until April 13, 2024. FactSet supports over 7,000 clients globally, providing financial data and analytics, and has been recognized for its workplace environment.
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