FactSet Research Systems Inc. (NYSE:FDS) shares were trading more than 2% lower Friday morning following the company’s reported Q4 results, with EPS of $3.13 coming in worse than the Street estimate of $3.21. Revenue was $499.3 million, compared to the Street estimate of $487.34 million.

The company's quarterly results ended up being disappointing relative to elevated expectations on margins. Margin expectations had increased following last quarter's beat; however, the company chose to make incremental investments which should drive further top-line growth over time.

FactSet expects full 2023-year EPS to be in the range of $14.50-$14.90 due to lower margins (+60 bps year-over-year margin expansion) driven by greater reinvestments in people and product.