FactSet Research Systems Inc. FDS reported mixed first-quarter fiscal 2020 results, wherein earnings topped the Zacks Consensus Estimate but revenues missed the same.The company reported adjusted earnings per share of $2.58, which surpassed the Zacks Consensus Estimate by 6.6% and increased 9.8% on a year-over-year basis driven by strong operating performance.So far this year, shares of FactSet have gained 33.7%, significantly underperforming the 45.3% growth of the industry it belongs to. Revenues in DetailFactSet’s revenues of $366.7 million missed the Zacks Consensus Estimate by 0.2% and increased 4.3% year over year. The uptick was driven by higher sales of analytics, content and technology solutions (CTS) as well as wealth management solutions.Organic revenues increased 4.2% year over year to $367.9 million. Region-wise, U.S. revenues increased to $231.3 million from $222.2 million in the year-ago quarter. International revenues were $135.3 million compared with $129.4 million in the year-ago quarter.ASV Plus Professional ServicesFactSet’s Annual Subscription Value (ASV) plus professional services of $1.48 billion was flat year over year. Organically, it increased 4.1% year over year. Buy-side and sell-side ASV growth rates were 4% and 4%, respectively. Nearly 83.9% of organic ASV was generated by buy-side clients. The rest were derived from sell-side firms performing functions like mergers and acquisitions advisory work, equity research and capital markets services.ASV generated from the United States was $907.5 million, up 3.5% from the prior-year quarter’s level. Internationally, ASV was $546.2 million, up 4.8% year over year. FactSet added 119 clients in the reported quarter, taking the total number to 5,574. Annual client retention was 89%. At the end of the quarter, total employee count was 9,681, up 1.1% year over year.Operating ResultsAdjusted operating income came in at $124.7 million, up 12.1% from the year-ago quarter’s figure. Adjusted operating margin increased 240 basis points (bps) to 33.9%. Selling, general and administration expenses increased 4.9% to $88.5 million. Total operating expenses increased 0.9% to $253.5 million.FactSet Research Systems Inc. Price, Consensus and EPS Surprise FactSet Research Systems Inc. price-consensus-eps-surprise-chart | FactSet Research Systems Inc. QuoteBalance Sheet and Cash FlowFactSet exited first-quarter fiscal 2020 with cash and cash equivalents of $336.2 million compared with $359.8 million in the previous quarter. Long-term debt of $574.2 million was flat year over year. In the quarter, the company generated $95.8 million of cash from operating activities and capital expenditure was $26.8 million. Free cash flow was $69 million.FactSet repurchased 343,000 shares for $84.4 million during the reported quarter. As of Nov 30, 2019, the company had $154.2 million available for share repurchases. A quarterly dividend of $27.3 million was paid out on Dec 19.Fiscal 2020 OutlookFactSet reaffirmed its outlook for fiscal 2020. The company expects adjusted EPS between $9.85 and $10.15.The company expects revenues between $1.49 billion and $1.50 billion. Organic ASV plus professional services for fiscal 2020 is projected to increase in the range of $65-$85 million. Adjusted operating margin of 28.5%-29.5% is expected. The annual effective tax rate is anticipated between 17% and 17.5%.Zacks Rank & Stocks to ConsiderCurrently, FactSet carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader Zacks Business Services sector are Cardtronics CATM, Global Payments GPN and Mastercard Inc. MA. While Cardtronics sports a Zacks Rank #1 (Strong Buy), Global Payments and Mastercard carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term expected EPS (three to five years) growth rate for Cardtronics, Global Payments and Mastercard is 4%, 18% and 16%, respectively.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cardtronics PLC (CATM): Free Stock Analysis Report FactSet Research Systems Inc. (FDS): Free Stock Analysis Report Global Payments Inc. (GPN): Free Stock Analysis Report Mastercard Incorporated (MA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research