FDS News & Events

FactSet announced the beta release of AI Doc Ingest for Cobalt. FactSet's AI Doc Ingest leverages advanced AI capabilities in the market to extract data from PDFs, Excels, board decks, and other source files, then transforms it into a client-defined data model within Cobalt's Portfolio Monitoring platform.

Shares of legal software companies are under pressure on Tuesday after Anthropic released a new AI automation tool. Shares of IT Services/BPO stocks are also weak today due to Anthropic's recent release of new plug-ins.MOVE INTO LEGAL:Shares of RELX Plcand Wolters Kluwer NV, both providers of professional analytics, fell more than 10% on Tuesday. Also trading lower were Experian, Thomson Reuters, Legalzoom.comand FactSet Research Systems.This follows Anthropic's launch of a new AI automation tool, which investors see as uniquely positioned to disrupt both traditional legal news and data providers as well as newer legal AI entrants, given Anthropic's role as a major foundation model developer within the AI ecosystem. On its plugin webpage, Anthropic lists a legal tool that it says can automate tasks such as contract review and legal brief drafting.GOOD VALUE IN ACCENTURE:In a research note to investors, Baird analyst David Koning noted that the firm's IT Services/BPO stocks - Accenture, Cognizant, Genpactand ExlService- were weak today, which appeared mostly due to Anthropic's recent release of new plug-ins. Gartner'sweak earnings release may be causing a little consternation as well, the analyst added. Baird is particularly puzzled by Accenture's 7% drop given its broad service mix and limited reliance on any single product. The firm likes Accenture a lot on this pullback, and expects Cognizant's results tomorrow to provide some relief.Baird also highlighted that from a recent fundamental perspective, recent results across IT Services have been solid in Q4, with guidance overall decent as well. Cognizant reports tomorrow, and the firm expects solid results, with Q4 revenue likely around top of guidance range, and 2026 Street EPS likely fine.PRICE ACTION:In morning trading, Accenture and Cognizant dropped over 9%, Genpact slipped about 8%, ExlService and Factset Research slid 10%, Relx plunged 14.5%, and Thomson Reuters dropped almost 18%.

Barclays (BCS) announced a multiyear arrangement with FactSet (FDS) as a further step in realizing Barclays' long-term market data strategy. "This collaboration harnesses FactSet's advanced analytics and innovative technology, empowering Barclays to deliver enhanced, data-driven solutions for its global client base," the company said. "Together, Barclays and FactSet are poised to set new standards for efficiency and transparency in financial data, reaffirming our mutual commitment to shaping the future of capital markets," said Goran Skoko, Chief Revenue Officer at FactSet.