Shares of FactSet Research Systems (NYSE: FDS) fell more than 3% on Thursday after the financial data provider reported fourth-quarter earnings below expectations and issued weak full-year guidance.

The company posted earnings of $4.05 per share, missing the $4.13 consensus. Revenue came in at $596.9 million, slightly ahead of forecasts of $592.8 million. Organic revenue grew 4.5% to $587.3 million, led by institutional buy-side and wealth clients.

Annual Subscription Value (ASV) reached $2.41 billion, up from $2.26 billion a year earlier. Organic ASV rose 5.7% to $2.37 billion, an increase of $127.3 million year-over-year, and $81.8 million sequentially.

FactSet also said director James J. McGonigle would step down from its board effective December 1, 2025, after serving since 2002. The company said his departure was not related to disagreements with management or the board.

For fiscal 2026, the company guided adjusted EPS between $16.90 and $17.60, below the $18.27 consensus. GAAP revenue was projected at $2.42 billion to $2.45 billion, with organic ASV growth expected between $100 million and $150 million.