FactSet Research Systems, Inc. (NYSE:FDS) is leading provider of investment management tools. Shares increased on reports of solid earnings growth, with steady (though slightly declining) increases in annual subscription value, meaningful margin expansion, and approximately 20% adjusted EPS growth. We retain conviction in FactSet due to the large addressable market, consistent execution on both new product development and financial results, and robust free cash flow generation.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund second-quarter 2019 shareholder commentary.
