What Happened?
Shares of financial data provider FactSet (NYSE: FDS) jumped 4.8% in the afternoon session after the company announced an expanded partnership with Scotiabank's Scotia Wealth Management to deepen the integration of its platform into Scotia's advisor and investment operations. According to the company’s press release, advisors, investment professionals, and support staff across Scotia Wealth Management will get FactSet’s research and intelligence platform in one place, covering investment research, market data, portfolio analysis, and watchlists. Todd Barnes, executive vice president for Canadian wealth management investment advisory at Scotia Wealth Management, said the firm is adding the tools as it updates its advisor platform. FactSet chief revenue officer Goran Skoko said the expansion extends a partnership built around the software advisors use day to day.
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What Is The Market Telling Us
FactSet’s shares are very volatile and have had 27 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 8 days ago when the stock gained 3.8% on the news that the company reported calendar third-quarter 2026 revenue growth of 6.3% and issued fiscal 2027 financial targets. According to a company press release, FactSet reported that GAAP revenues reached $634.7 million for the period ended August 31, 2026, while organic revenues expanded by 7.1%. The release also said that organic Annual Subscription Value rose 7.0% year over year, adding $168.2 million to reach $2,568.2 million. FactSet also disclosed repurchasing 552,064 common shares for $138.0 million at an average price of $249.90 during the calendar third quarter of 2026. For fiscal 2027, the company projected organic Annual Subscription Value growth between 5.0% and 6.5% along with revenue between $2,600 million and $2,625 million. Additionally, FactSet forecast an adjusted operating margin between 34.75% and 35.25% and adjusted diluted earnings per share of $19.25 to $19.65.
FactSet is flat since the beginning of the year, and at $287.45 per share, it is trading close to its 52-week high of $313.55 from August 2026. Investors who bought $1,000 worth of FactSet’s shares 5 years ago would now be looking at only $716.59.
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