FactSet Research Systems, Inc. (FDS
) provides financial information and analytics to the global investment community. Shares rose on optimism that rising equity markets will lead to more hiring by asset management firms, which likely would lead to more customers for the company's core equity databases. We believe that FactSet serves a market worth $11-$16 billion annually, or approximately 14-20 times larger than its current revenue base, leaving room for many years of attractive growth.
From the Baron Funds’ second quarter 2013 commentary