FactSet Research Systems: ASV Acceleration Keeps The Bull Case Going

FactSet Research Systems remains a buy as ASV growth accelerates, AI adoption strengthens, and valuation stays attractive at a low-teens forward P/E. Q3 2026 delivered 7.1% organic ASV growth, robust client wins, and >95% ASV retention, supporting recurring revenue and cross-workflow expansion. AI is driving deeper client integration, with >90% of top clients using multiple FDS AI products and AI client ASV growth outpacing the rest by over 50%. Margin pressure persists, but management reaffirmed FY2026 guidance; if ASV growth holds and margins stabilize, FDS could re-rate to a higher multiple.

My previous investment thought on FactSet Research Systems ( FDS ) was a buy rating because I thought the stock was too cheap relative to the growth profile and that FDS was