FactSet Research Systems "Strong Near-term Trends Come Into Focus" (Buy) Kramm

研报英文原文证据摘录

FactSet Research Systems "Strong Near-term Trends Come Into Focus" (Buy) Kramm

Global Research

1 July 2026ab

FactSet Research Systems Equities

AmericasStrong Near-term Trends Come Into Focus

Diversified Financial

12-month rating Buy

Growth continues to accelerate as investments bear fruit

FDS outperformed following F3Q results on a fifth straight quarter of organic ASV 12m price target US$340.00

growth acceleration and commentary that the F4Q was tracking ahead of a record Prior : US$380.00

F4Q25 a year ago. Expanding contracts with existing clients drove ASV growth and the

Price (01 Jul 2026) US$245.55

company views this as a large ongoing opportunity, particularly since investments in real-

time data, managed portfolio services, deep sector data and private market data have RIC: FDS.N BBG: FDS US

increased FDS' offerings. Relative to last quarter, ASV growth from clients using AI

Trading data and key metrics

solutions was 50% higher than for other clients. We think trends should remain

52-wk range US$449.98-190.06

favorable in the near term, which could drive the stock higher, as long-term worries take

a backseat. Importantly, margin improvement could be on the horizon, allowing the Market cap. US$9.48b

increased sales traction to also improve bottom-line growth. Shares o/s 38.6m (ORD)

Free float 99%

Strong pipeline and AI-demand but margin upside limited for now Avg. daily volume ('000) 296

Organic growth ASV of 7.1% in the F3Q accelerated from 6.7% last quarter. Avg. daily value (m) US$68.3

Management credited accelerating ASV to expanding wallet share with existing Common s/h equity (08/26E) US$2.09b

clients, improved retention, and strong demand for its real-time data, deep sector P/BV (08/26E) 4.3x

data, and managed portfolio services offerings.