Baron Funds, an asset management firm, published its “Baron Focused Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Focused Growth Fund (the “Fund”) declined 8.03% (Institutional Shares) in the quarter ended March 31, 2022. The Fund’s primary benchmark, the Russell 2500 Growth Index (the “Index”), fell 12.30% in the period. The S&P 500 Index, which measures the performance of large-cap companies, fell 4.60%. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Baron Focused Growth Fund mentioned FactSet Research Systems Inc. (NYSE:FDS) and explained its insights for the company. Founded in 1978, FactSet Research Systems Inc. (NYSE:FDS) is a Norwalk, Connecticut-based financial data and software company with a $13.4 billion market capitalization. FactSet Research Systems Inc. (NYSE:FDS) delivered a -26.78% return since the beginning of the year, while its 12-month returns are up by 9.01%. The stock closed at $355.87 per share on June 15, 2022.
Here is what Baron Focused Growth Fund has to say about FactSet Research Systems Inc. (NYSE:FDS) in its Q1 2022 investor letter:
“FactSet declined 10.5% in the quarter and penalized performance in the period by 43 basis points. FactSet shares fell despite accelerated revenue growth with improved margins, as recent investments continue to generate strong returns. FactSet’s revenue growth accelerated due to the introduction of new tools, which the company has begun to sell to both new and existing clients. This has led to increased pricing power and new use cases. We expect further revenue and earnings growth in 2022 and beyond, as well as improved cash flow, which the company will likely use for additional acquisitions and share repurchases. FactSet’s prospects remain favorable due to its large addressable market, consistent execution on both new product development and financial results, and robust free cash flow.”
Our calculations show that FactSet Research Systems Inc. (NYSE:FDS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. FactSet Research Systems Inc. (NYSE:FDS) was in 34 hedge fund portfolios at the end of the first quarter of 2022, compared to 34 funds in the previous quarter. FactSet Research Systems Inc. (NYSE:FDS) delivered a -15.12% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on FactSet Research Systems Inc. (NYSE:FDS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
