Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, October 4, 2024

Article Excerpt

FACTSET RESEARCH SYSTEMS INC., $457.00, symbol FDS on New York, is a leading provider of financial data and portfolio analytics to investment firms worldwide. In March 2022, FactSet completed the acquisition of CUSIP Global Services for $1.93 billion in cash. All stocks and bonds in the U.S. and Canada receive their own unique CUSIP identification number of nine letters and numbers to distinguish one publicly traded stock from another when settling trades. In addition, foreign securities are assigned a CINS number, which stands for CUSIP International Numbering System. CUSIP Global Services manages the system in partnership with the American Bankers Association. In April 2024, FactSet launched an AI-powered product called Portfolio Commentary.  Portfolio Commentary aims to significantly reduce the challenging, time-consuming, and nuanced process of writing attribution summaries manually for investment managers and wealth management professionals. In its fiscal fourth quarter ended August 31, 2024, FactSet’s revenue increased 4.9% to $562.2 million from $535.8 million a year earlier. The company’s annualized subscription value…