Factset Research Systems (FDS) Provided “Better-Than-Feared” Future Outlook

Conestoga Capital Advisors, an asset management company, released its “Mid Cap Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The Mid Cap Composite declined 8.01% net of fees in the third quarter, trailing the Russell Midcap Growth Index’s -5.22% return. A combination of negative stock selection and sector allocation effects resulted in the underperformance of the strategy in the quarter.  In addition, please check the fund’s top five holdings to know its best picks in 2023.

 Conestoga Mid Cap Composite highlighted stocks like FactSet Research Systems Inc. (NYSE:FDS) in the Q3 2023 investor letter. Headquartered in Norwalk, Connecticut, FactSet Research Systems Inc. (NYSE:FDS) provides financial data and analytics to the investment community. On November 15, 2023, FactSet Research Systems Inc. (NYSE:FDS) stock closed at $458.54 per share. One-month return of FactSet Research Systems Inc. (NYSE:FDS) was 4.96%, and its shares gained 5.00% of their value over the last 52 weeks. FactSet Research Systems Inc. (NYSE:FDS) has a market capitalization of $17.419 billion.

Conestoga Mid Cap Composite made the following comment about FactSet Research Systems Inc. (NYSE:FDS) in its Q3 2023 investor letter:

“FactSet Research Systems Inc. (NYSE:FDS): FDS supplies mission-critical global economic and financial data to analysts, investment bankers, and other financial professionals. FDS reported a solid quarter and gave a ‘better-than-feared’ outlook for the upcoming fiscal year. While existing and potential new customers continue to face budget constraints, FDS is seeing some green shoots that could result in a stronger second half of its fiscal year 2024. Management has also executed very well on cost controls.”

tablet, chart, ipad, man, bloomberg, business, stock, people, touch, hand, market, buy, course, app, notebook, schedule, bank, plastic, editorial, technology, computer, actions, mobile, currency, electronic, payment, purchase, background, device, online, statistic, exchange, shares, pay, holder, display, transaction, interface, illustrative, internet, commercial, finance, gadget, card, hold, e-commerce, macbook, money, terminal, apple, office, banking, wallet

Denys Prykhodov/Shutterstock.com

FactSet Research Systems Inc. (NYSE:FDS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held FactSet Research Systems Inc. (NYSE:FDS) at the end of second quarter which was 36 in the previous quarter.

We discussed FactSet Research Systems Inc. (NYSE:FDS) in another article and shared Baron Asset Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.