Core Insights - FactSet Research Systems Inc. is a significant player in the investment community, providing a digital platform and enterprise solutions for portfolio analytics, data management, and reporting workflows [1] - The company has a market capitalization of approximately $10.9 billion, categorizing it as a large-cap company with a diverse range of services including desktop and mobile platforms, data feeds, and cloud-based solutions [2] Stock Performance - FactSet's shares have decreased by 42.2% from their 52-week high of $499.87 in November 2024, and the stock has fallen 32% over the past three months, contrasting sharply with the 9.8% rise in the Dow Jones Industrial Average during the same period [3][4] - Over the past 52 weeks, the stock has plummeted 38.4%, and in 2025 alone, it has declined by 39.8%, while the Dow Jones Industrial Average rose 10.2% [4] Earnings Results - For Q4 2025, revenue increased by 6.2% year-over-year to $596.9 million, surpassing the consensus forecast of $592.8 million, with organic revenue growth of 4.5% to $587.3 million driven by institutional buy-side and wealth management clients [6] - Earnings per share (EPS) rose 8.3% to $4.05 but fell short of analyst expectations of $4.13 [6] Future Guidance - The company's full-year earnings guidance for fiscal 2026 is below expectations, with adjusted EPS projected between $16.90 and $17.60, compared to the consensus estimate of $18.27 [7] - Revenue guidance is set between $2.42 billion and $2.45 billion, with organic annual subscription value (ASV) growth expected to be between $100 million and $150 million [7]

Upgrades Summary - TD Cowen upgraded Paycom (PAYC) to Buy from Hold with a price target of $258, increased from $246, citing positive indications from its 2025 human capital management survey and recent commentary on capex expectations [2] - Morgan Stanley upgraded Applied Materials (AMAT) to Overweight from Equal Weight with a price target of $209, up from $172, revising its 2026 wafer fab equipment sales forecast from up 5% year-over-year to up 10%, primarily in memory [2] - Morgan Stanley also upgraded Lam Research (LRCX) to Equal Weight from Underweight with a price target of $125, increased from $92 [2] - Evercore ISI upgraded Repligen (REGN) to Outperform from In Line with a price target of $155, up from $130, believing the bioprocessing solutions market is relatively insulated from macro headwinds and returning to high-single-digit growth [2] - Wells Fargo upgraded Brinker (EAT) to Overweight from Equal Weight with a price target of $175, up from $165, noting poor investor sentiment but highlighting turnaround momentum and undervaluation [2] - UBS upgraded FactSet (FDS) to Buy from Neutral with a price target of $425, down from $480, stating that the company's "sticky franchise" is underappreciated at current share levels [2]

Analyst Upgrades and Downgrades - Barclays analyst Eddie Kim upgraded Helmerich & Payne, Inc. from Equal-Weight to Overweight, raising the price target from $17 to $25, with shares closing at $20.54 [3] - UBS analyst Alex Kramm upgraded FactSet Research Systems Inc. from Neutral to Buy but lowered the price target from $480 to $425, with shares closing at $289.15 [3] - BMO Capital analyst Kostas Biliouris upgraded Sarepta Therapeutics, Inc. from Market Perform to Outperform, maintaining the price target at $50, with shares closing at $17.43 [3] - Evercore ISI Group analyst Daniel Markowitz upgraded Repligen Corporation from In-Line to Outperform, raising the price target from $130 to $155, with shares closing at $122.30 [3] - Wells Fargo analyst Zachary Fadem upgraded Brinker International, Inc. from Equal-Weight to Overweight, boosting the price target from $165 to $175, with shares closing at $136.35 [3]

Core Insights - The private equity market is gaining attention due to potential changes allowing 401(k) plans to invest in private equity, which could accelerate its growth [2] - Since 2013, global private equity assets have doubled, with projections estimating a rise to $62 trillion by 2034, driven by a decrease in publicly listed companies and an increase in "unicorns" [4][6] Key Trends - Unprecedented Asset Growth: The private equity market has seen a significant increase in assets, with a notable rise in unicorn companies valued over $1 billion [4][5] - Lower Barriers to Entry: Technological innovations and regulatory changes have led to a surge in investment tools for private equity, enhancing accessibility for investors [8] - Rise of Retail Investors: Retail investors are expected to contribute approximately 60% of the growth in private equity assets under management over the next decade, indicating a shift from institutional dominance [8] - Anticipated Surge in Private Equity Exits: There is an expectation of a wave of exits as general partners face pressure from limited partners for returns, with estimates of 4,000 to 6,500 projects potentially re-entering the market [8] Challenges - Limited Transparency and High Risks: The private equity market still faces challenges such as low data transparency, liquidity issues, and high costs, which amplify risks for new investors [9] - Demand for Quality Data: There is a historical high demand for quality data in the private equity market, with innovative approaches driven by AI improving transparency and performance assessment [9] Market Dynamics - Changing Relationship Between Public and Private Markets: The boundaries between public and private markets are blurring, necessitating new asset allocation and risk management strategies for investors [11] - Future Outlook: The rapid expansion of private equity investments is expected to be a defining trend, driven by innovation and capital inflows, while also presenting challenges related to regulatory frameworks and data quality [12] Evolving Strategies - Shifts in Private Equity Transaction Strategies: Firms are moving away from reliance on high leverage and precise exit timing, focusing instead on operational value creation and flexible portfolio management [13]

Core Insights - The individual has a strong background in fundamental analysis, focusing on actual company performance rather than technical trading methods [1] - The investment strategy is primarily long-term, with a preference for US companies, while also analyzing European and Chinese firms [1] - The individual expresses a contrarian investment approach, indicating a willingness to go against prevailing market trends [1] Investment Focus - The individual mainly invests in stocks and ETFs, highlighting a diversified investment strategy [1] - There is an emphasis on learning and adapting investment strategies over time, showcasing a commitment to continuous improvement in investment knowledge [1] Community Engagement - The individual uses platforms like Seeking Alpha to share opinions and connect with others in the investment community, indicating a desire for collaboration and discussion [1]

Group 1: Financial Performance - FactSet reported quarterly sales of $596.9 million, exceeding analyst expectations of $593.5 million, marking a 6.2% year-over-year increase [1] - Adjusted earnings per share for the quarter were $4.05, falling short of the expected $4.13 [1] Group 2: Future Projections - The company anticipates revenues between $2.423 billion and $2.448 billion, compared to the analyst consensus estimate of $2.320 billion [2] - Projected adjusted diluted EPS is expected to be between $16.90 and $17.60, against the consensus estimate of $17.06 [2] - FactSet expects an adjusted operating margin of 34.0% to 35.5% [2] Group 3: Strategic Insights - CEO Sanoke Viswanathan highlighted that FactSet is at a strategic inflection point, with AI and data-driven innovation transforming workflows in financial markets [3] - The company aims to leverage its talent, technology, and data capabilities to lead in this transformation while focusing on sustainable, long-term value for clients and shareholders [3] Group 4: Analyst Ratings and Price Targets - Following the earnings announcement, Wells Fargo analyst Jason Haas maintained an Underweight rating and reduced the price target from $355 to $296 [8] - Stifel analyst Shlomo Rosenbaum kept a Hold rating and lowered the price target from $464 to $372 [8] - Evercore ISI Group analyst David Motemeden maintained an In-Line rating and cut the price target from $394 to $328 [8]

Group 1 - FactSet Research Systems Inc. (NYSE: FDS) has been covered by analysts with a generally bearish or neutral outlook on the stock over the years [1] - The analysis focuses on high-quality companies that can outperform the market in the long run due to competitive advantages and high levels of defensibility [1] - The focus of the analysis is primarily on European and North American companies, without constraints regarding market capitalization [1]

Group 1 - FactSet Research Systems Inc. (NYSE: FDS) has been viewed with a bearish or neutral outlook by analysts over the past few years [1] - The analysis emphasizes the importance of high-quality companies that can outperform the market due to competitive advantages and defensibility [1] - The focus of the analysis is primarily on European and North American companies, without restrictions on market capitalization [1] Group 2 - The analyst has no current stock or derivative positions in any mentioned companies and does not plan to initiate any within the next 72 hours [2] - The article reflects the author's personal opinions and is not influenced by compensation from any company [2] - There is no business relationship with any company whose stock is mentioned in the article [2]

Core Insights - FactSet reported earnings per share (EPS) of $4.05, which was below the estimated $4.13, resulting in an earnings surprise of -2.41% [2][6] - The company's revenue for the fourth quarter was $596.9 million, exceeding estimates and reflecting a 6.2% year-over-year growth [3][6] - For the full fiscal year 2025, FactSet's GAAP revenues reached $2.32 billion, marking a 5.4% increase from the previous year [4] - FactSet's organic Annual Subscription Value (ASV) grew by 5.7% to $2.37 billion, indicating successful customer base expansion [4] - The fourth-quarter GAAP operating margin improved to 29.7%, showcasing efficient cost management [5][6] - The adjusted operating margin for the fourth quarter decreased to 33.8%, while the fiscal year GAAP operating margin was 32.2% [5] Financial Performance - EPS for the fourth quarter was $4.05, missing the estimate of $4.13, indicating a -2.41% earnings surprise [2][6] - Revenue for the fourth quarter was $596.9 million, surpassing the estimated $592.8 million, reflecting a 6.2% increase from $562.19 million in the same period in 2024 [3] - For the full fiscal year 2025, GAAP revenues were reported at $2.32 billion, a 5.4% increase from the previous year [4] Operating Metrics - The fourth-quarter GAAP operating margin improved by approximately 700 basis points to 29.7% [5] - The adjusted operating margin decreased by 200 basis points to 33.8% in the fourth quarter [5] - For the fiscal year, the GAAP operating margin was 32.2%, while the adjusted operating margin was 36.3% [5]

Core Insights - FactSet Research Systems reported fourth-quarter earnings of $4.05 per share, missing the consensus estimate of $4.13, while revenue was $596.9 million, slightly exceeding forecasts of $592.8 million [1] - The company provided weak guidance for fiscal 2026, projecting adjusted EPS between $16.90 and $17.60, below the consensus of $18.27 [3] Financial Performance - Organic revenue grew 4.5% to $587.3 million, driven by institutional buy-side and wealth clients [1] - Annual Subscription Value (ASV) reached $2.41 billion, an increase from $2.26 billion a year earlier, with organic ASV rising 5.7% to $2.37 billion, reflecting a year-over-year increase of $127.3 million [2] Future Guidance - GAAP revenue for fiscal 2026 is projected to be between $2.42 billion and $2.45 billion, with organic ASV growth expected to be between $100 million and $150 million [3] - The company announced the departure of director James J. McGonigle from the board effective December 1, 2025, with no reported disagreements with management or the board [2]