Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Factset Research Systems Inc / Equity Bottom-Up

<ul><li>FactSet has a fundamentally solid business model and its business has not been significantly affected despite the bearish trends in the S&P500.</li><li>Asia Pacific continued to be a growth-driving geography with ASV growth at 14.3%, driven by demand from asset managers and vested owners.</li><li>With greater expansion with asset owners and asset managers, respectively, both CTS and analytics contributed to growth.</li></ul>

FactSet has a fundamentally solid business model and its business has not been significantly affected despite the bearish trends in the S&P500.Asia Pacific continued to be a growth-driving geography with ASV growth at 14.3%, driven by demand from asset managers and vested owners.With greater expansion with asset owners and asset managers, respectively, both CTS and analytics contributed to growth.

FactSet Research Systems Inc.: Defensive Business Model & Key Drivers

Equity Capital Markets

Factset Research Systems Inc / Equity Capital Markets

<ul><li>FactSet delivered a good set of financial results, as it completed its pipeline and continued to build on its strong momentum from the previous fiscal.</li><li>In the latest quarter, its organic ASV plus professional services growth accelerated to 9%, owing to increases in workstations and portfolio analytics, as well as higher price increases in the Americas.</li><li>FactSet has been expanding its reach in the global financial markets ecosystem and a good move on that front was the acquisition of CUSIP Global Services from S&P Global for $1.9 billion.</li></ul>

FactSet delivered a good set of financial results, as it completed its pipeline and continued to build on its strong momentum from the previous fiscal.In the latest quarter, its organic ASV plus professional services growth accelerated to 9%, owing to increases in workstations and portfolio analytics, as well as higher price increases in the Americas.FactSet has been expanding its reach in the global financial markets ecosystem and a good move on that front was the acquisition of CUSIP Global Services from S&P Global for $1.9 billion.

FactSet Research Systems Inc.: Financial & Price Forecasts

<ul><li>FactSet delivered strong fourth quarter result justifying its bull run for the past months.</li><li>The company delivered a record organic ASV plus professional services growth of $68 million, crossing the $100 million annual ASV threshold for the first time and outperforming their own guidance.</li><li>The management is merging the desktop portion of the Wealth business with Research to form a new business called Research and Advisory.</li></ul>

FactSet delivered strong fourth quarter result justifying its bull run for the past months.The company delivered a record organic ASV plus professional services growth of $68 million, crossing the $100 million annual ASV threshold for the first time and outperforming their own guidance.The management is merging the desktop portion of the Wealth business with Research to form a new business called Research and Advisory.

FactSet Research: Capitalizing On The Heavy Demand For Research & Analytics (12/2021)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. </li>
<li>There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.</li>
<li>The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.</li>
</ul>


S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. 
There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.
The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.


S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

Factset Research Systems Inc / Index Rebalance

<ul>
<li>There are 3 stocks migrating from the S&amp;P500 to the S&amp;P400 and vice versa and another 3 stocks migrating from the S&amp;P600 to the S&amp;P400 and vice versa.</li>
<li>The impact of changes in the number of index shares for quite a few index constituents and the funding trade take the one-way trade size to US$18.5bn.</li>
<li>There appear to be pre-positions on some of the stocks. While the flow is large on many stocks, there are only a few that have over 2 days of ADV.</li>
</ul>


There are 3 stocks migrating from the S&amp;P500 to the S&amp;P400 and vice versa and another 3 stocks migrating from the S&amp;P600 to the S&amp;P400 and vice versa.
The impact of changes in the number of index shares for quite a few index constituents and the funding trade take the one-way trade size to US$18.5bn.
There appear to be pre-positions on some of the stocks. While the flow is large on many stocks, there are only a few that have over 2 days of ADV.


S&P500 Index Rebalance: Migrations Across the Indices

United States

FactSet Research Systems Inc. supplies global economic and financial data to analysts, investment bankers, and other financial professionals.  The Company combines databases from multiple suppliers into a single online source of information and analytics, including fundamental data.

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Factset Research Systems Inc (FDS US)

FactSet Research Systems Inc.: Defensive Business Model & Key Drivers

FactSet has a fundamentally solid business model and its business has not been significantly affected despite the bearish trends in the...

Baptista Research

FactSet Research Systems Inc.: Financial & Price Forecasts

FactSet delivered a good set of financial results, as it completed its pipeline and continued to build on its strong momentum from the previous...

Baptista Research

FactSet Research: Capitalizing On The Heavy Demand For Research & Analytics (12/2021)

FactSet delivered strong fourth quarter result justifying its bull run for the past months. The company delivered a record organic ASV plus...

Baptista Research

S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

The S&P announced its changes to the S&P500, S&P Midcap 400, and S&P Small 600 Indices. All names moving in and out of these indices are coming...

Travis Lundy

S&P500 Index Rebalance: Migrations Across the Indices

There are 3 migrations from the S&P400 to the S&P500 and vice versa and another 3 migrations from the S&P600 to the S&400 and vice versa. The one...

Brian Freitas

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