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Shares of FactSet Research Systems  (FDS - Get Report)  were rising 2.44% to $300.49 in trading after the financial data provider reported fiscal third-quarter earnings ahead of Wall Street's expectations.

FactSet reported a 7.2% increase in revenue to $364.5 million and earnings of $2.62 per share, a 20.2% increase from the previous year. Analysts were expecting revenue of $359.25 million and earnings of $2.36 per share.

"FactSet's ability to perform well this year amid sector and industry headwinds serves as a proof point that our long-term strategy is working," said Phil Snow, FactSet CEO. "We are encouraged that our smarter, connected data and technology solutions continue to resonate with clients as we help them drive efficiency and increase value in an ever-changing environment."

The company also announced that it increased its quarterly dividend by 12.5% to 72 cents per share, making this the 14th consecutive year that FactSet has increased its dividend. 

The company also approved a $210 million increase to its current share repurchase program. 

"FactSet's ability to perform well this year amid sector and industry headwinds serves as a proof point that our long-term strategy is working," said Snow. "We are encouraged that our smarter, connected data and technology solutions continue to resonate with clients as we help them drive efficiency and increase value in an ever-changing environment."