Factset Research Systems Inc (NYSE:FDS) stock fell 1.11% (As on June 24, 11:17:18 AM UTC-4, Source: Google Finance) after the company delivered mixed results for the third quarter of FY25. Organic revenues grew 4.4% year over year to $577.2 million during the third quarter of fiscal 2025. Growth in GAAP and Organic revenues this quarter was driven by wealth and institutional buy-side clients. Annual Subscription Value (“ASV”) was $2,335.1 million at May 31, 2025, compared with $2,199.1 million at May 31, 2024. Organic ASV was $2,296.9 million at May 31, 2025, up 4.5% or $98.5 million year over year. Organic ASV increased $22.6 million over the last three months. Adjusted operating margin decreased to 36.8% compared with 39.4% in the prior year period. Net cash provided by operating activities was $253.8 million for the third quarter of fiscal 2025, an increase of 6.5% compared with the prior year period. Free cash flow increased to $228.6 million for the third quarter of fiscal 2025, compared with $216.9 million for the prior year period, an increase of 5.4%, primarily due to higher operating cash flows. FactSet entered into a new credit agreement that includes a term loan of $500 million and a revolving credit facility of $1.0 billion, which remains undrawn. The term loan was used to repay borrowings under the 2022 credit agreement.

Moreover, Client count as of May 31, 2025 was 8,811, a net increase of 166 clients in the past three months, driven by hedge fund, corporate and wealth management clients, and now includes clients from the LiquidityBook acquisition. The count includes clients with ASV of $10,000 and more. User count was 220,496 as of May 31, 2025, a net increase of 1,355 users in the past three months, driven by an increase in wealth management users. The user count does not reflect the fiscal 2025 acquisitions.

FDS in the third quarter of FY25 has reported the adjusted earnings per share of $4.27, missing the analysts’ estimates for the adjusted earnings per share of $4.31, according to the Zacks Consensus Estimate . The company had reported the adjusted revenue growth of 5.9 percent to $585.52 million in the third quarter of FY25, beating the analysts’ estimates for revenue by 0.725%.

Meanwhile, FactSet announced that Phil Snow will retire as CEO and a member of the Board, effective early September 2025 and will be succeeded by Sanoke Viswanathan, most recently CEO of International Consumer and Wealth at JPMorgan Chase. Snow will serve as a senior advisor through the end of the calendar year.