What Zacks Professional Services does

Zacks Professional Services is the institutional and advisor-focused division of Zacks Investment Research, Inc., a privately held Chicago-based firm founded in 1978 by Len Zacks. The company provides independent equity, ETF, and mutual fund research, quantitative ranking models, model portfolios, and data/analytics platforms to financial advisors and institutional buy-side investors. Its core intellectual property is a set of proprietary quantitative models — most notably the Zacks Indicator (1982, the first commercial estimate-revision model) and its 2005 IN2 reformulation, which rank stocks on earnings estimate revision trends — complemented by ETF and mutual fund ranking models, EPS surprise prediction (Zacks PRI), and a family of model portfolios (Focus List, Earnings Certain, Deep Value, Thematic). The Zacks Rank has delivered 23.9% annualized returns for #1-ranked stocks over 38 years, independently attested by Baker Tilly and PKF Mueller, and Zacks is rated #1 by Investars for six consecutive years against 37 other research providers.

The company's technology stack is delivered through multiple channels: the cloud-based Advisor Tools platform for financial advisors (with custodial data integration, screening, backtesting, model portfolios, and pitchbook reporting), the Zacks Research System (ZRS) flagship institutional platform consolidating 16 software and data services, an Excel add-in (Zacks Excel Link) exposing 10+ million data items, and downloadable database files (DBCM, estimates, indicators) for institutional ingestion. Analyst-written research covers ~1,100 U.S. companies and ADRs, augmented by Zacks Snapshot quant reports for ~3,600 additional companies, and the firm processes 500,000+ pages of sell-side research from 185+ brokerages annually via a 50-person India-based analyst team supporting the Research Digest outsourced research service.

Revenue is generated through a mix of recurring subscriptions (Advisor Tools, ZRS, raw data feeds, Model Express), licensing/royalty streams from distributing research through Bloomberg, FactSet, LSEG/Refinitiv, S&P Capital IQ, and Alphasense, managed services (Research Digest, Model Express), one-time/perpetual software licenses (ZRS 5.0), and professional services consulting. Pricing is quote-based and not publicly disclosed, with free two-week Advisor Tools and 30-day ZRS trials used as lead-conversion mechanisms. The customer base is split between a long-tail of financial advisors (SMB) accessed via self-serve trials and a concentrated institutional segment (ZRS, Research Digest) served by named account executives. Geographic scope is primarily North America with global product availability through terminal partnerships and an India-based operations support team.

Name

Zacks Professional Services

Legal name

Zacks Investment Research, Inc.

Website

https://zackspro.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

101–250 employees

Short description

Zacks Professional Services is the institutional division of Zacks Investment Research, Inc., providing independent equity research, proprietary quantitative ranking models (Zacks Rank, ETF Rank, Mutual Fund Rank), model portfolios, and analytics platforms to financial advisors and institutional buy-side investors in North America.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. Subscription access to research platforms: Recurring subscription fees for Zacks Advisor Tools, Zacks Research System (ZRS), and institutional platform access. Free trials offered as lead conversion with multi-week no-obligation access.
2. Distribution licensing to terminal providers: Revenue from distributing Zacks Equity Research reports and analyst financial models through Bloomberg, FactSet, LSEG (Refinitiv), S&P Capital IQ, and Alphasense. A separate subscription is required for the Zacks Research Package that supports the models.
3. Raw data feed subscriptions (DBCM, indicators, estimates): Subscription access to proprietary raw data files (DBCM daily/weekly, Zacks Indicator, Estimates, Ratings, Revisions, Surprises, Prices) downloaded by institutional clients for in-house systems.
4. Research Digest outsourced research service: Subscription-based outsourced analyst service staffed by 50 India-based assistant analysts who produce sell-side research summaries, consensus income statement models, and customized research deliverables for buy-side clients.
5. Consulting services: Custom market research studies, custom index/benchmark creation, custom database creation, investment strategy development and evaluation, performance evaluation studies/audits, ZRS customization, back-office services, and training/seminars delivered by Zacks consultants.
6. Model Express service: Recurring revenue from automated model update service for buy-side firms during earnings season, with overnight (8 AM EST) and intraday (30 minute) tiers.
7. One-time license / perpetual software: Zacks Research System 5.0 is a client/server system delivered over the internet (consolidated 16 investment software and data services) sold as subscription or licensed software to institutional investors.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels9 records

Core offering

Zacks Professional Services packages Zacks' proprietary quantitative equity ranking models (Zacks Rank, ETF Rank, Mutual Fund Rank, IN2 Indicator), the Advisor Tools and Zacks Research System (ZRS) web platforms, an Excel Link add-in, model portfolios, and outsourced research services (Research Digest, Model Express) for financial advisors and institutional buy-side investors. The firm covers approximately 1,100 companies via analyst-written research, 3,600 Snapshot quantitative reports, and provides raw data feeds, model portfolio strategies, backtesting tools, and consulting services for institutional investment workflows.

Differentiator

Problem solved

Functional benefit

Brands

• Zacks Advisor Tools: Cloud-based research platform designed for financial advisors, offering consolidated Zacks research, model portfolios, quant models, data visualization, and portfolio analysis tools.
• Zacks Research System (ZRS)

Products and services

• Zacks Advisor Tools Cloud-based platform purpose-built for financial advisors, consolidating Zacks independent research, model portfolios, quant models, custodial data integration, and data visualization tools into one interface for managing client portfolios, screening, backtesting, retirement planning, and producing proposals/pitchbooks.
• Zacks Research System (ZRS) Flagship web-delivered institutional research and analytics platform offering interactive charting, multi-asset class screening, custom report generation, valuation panel charts, return attribution, and access to Zacks' award-winning independent equity, mutual fund, and ETF research, with Excel Link integration.
• Zacks Rank Proprietary quantitative model ranking ~4,000 stocks on a 1-5 scale (Strong Buy to Strong Sell) based on trends in earnings estimate revisions, with an optimal holding horizon of 1-3 months. Annualized return of #1 Rank of +23.9% since 1988.
• Zacks ETF Rank Proprietary quantitative recommendation for ETFs combining Zacks outlook for the underlying industry, sector, style box, or asset class with ETF-specific attributes such as expense ratio, holdings, and yields.
• Zacks Mutual Fund Rank Predictive rank for ~6,000 mutual funds on a 1-5 scale plus sub-factor scores (U.S. Equity, International, Non-Core Asset Class, Fixed Income) for forecasting future price performance.
• Research Wizard Custom equity screening program for institutional investors with multi-company reports, scripts/macros, intraday price/volume data, and intraday EPS surprises for identifying new buying opportunities, monitoring portfolios, and backtesting.
• Integrated Company Analysis (ICA) Charting and analysis package displaying Price Action overlays, Company vs. Industry Analysis, Peer Analysis, and single-company Snapshot reports for over 6,500 companies.
• Trading Strategy Evaluator (TSE) Backtesting simulator for evaluating trading strategies with real-world trading costs, sensitivity analysis, timing strategies, sector-neutral weighting, and integrated IITPortf Markowitz mean-variance portfolio optimization.
• Rank Analysis Factor testing tool that evaluates investment-related factors (single items or mathematical combinations) via correlation coefficient, P-values, returns, volatilities, risk-adjusted returns, information coefficient analysis, and 1- and 2-dimensional fractals.
• Zacks Focus List Flagship model portfolio of 50 long-term U.S. large- and mid-cap stocks hand-selected by Zacks Director of Research Sheraz Mian. Maintained since 1996; reviewed weekly with low turnover; uses Zacks Rank as one input with sector allocation following the manager's outlook.
• Deep Value Model Portfolio 30-stock high-conviction value portfolio using Shiller P/E Ratio and ROIC framework to identify undervalued opportunities and avoid value traps, governed by five management rules.
• Earnings Certain Family of Portfolios Three earnings-stability-based strategies — Core (62 firms), Admiral (30 firms), and Dividend (25 firms) — designed as low-fee, tax-efficient alternatives to SMAs and mutual funds, built on Return on Invested Capital, EPS Linearity, EPS Growth, and FCF Conversion metrics.
• ETF Model Portfolios Pre-built ETF model portfolios for every risk/return profile, built on Zacks ETF Rank and Zacks asset class forecasts to simplify asset allocation, prospect proposals, and portfolio comparisons.
• Zacks Excel Link Excel add-in providing dynamic access to Zacks' 10+ million investment data items, auto-updating linked cells with prices, financials, estimates, Zacks proprietary scores, and pre-built graphic-rich report templates.
• Zacks Equity Research Reports (Analyst-Written) Analyst-written equity research reports covering ~1,100 major U.S. companies and ADRs, including Summary, Overview, Reasons to Buy/Sell, Target Price, Valuation, Risk, and detailed earnings analysis. Authored by 30 senior and 20 junior analysts organized by industry.
• Zacks Advisor Insights Newsletter / Market Update Newsletter Free daily morning newsletter delivering breaking market and economic news, expert commentary, and Zacks research-based analysis.
• Zacks Research Digest Outsourced analyst service using 50 India-based assistant analysts (CFA, CPA, or MBA) to summarize sell-side broker research, build consensus income statement models, and produce Digest Reports and Spreadsheets for buy-side firms, with overnight turnaround (assignments at 5 PM delivered by 9 AM next morning).
• Zacks Model Express Service that automatically updates buy-side analyst spreadsheet models when companies report quarterly results, calculating line-item surprises by comparing reported values with Zacks consensus. Offers overnight (by 8 AM EST) and intraday (30 minute) update tiers.
• Zacks Consulting Services Custom market research studies, custom index/benchmark creation, custom database creation, investment strategy development and evaluation, performance evaluation studies/audits, ZRS customization, back-office services, and training/seminars delivered by Zacks consultants.
• Raw Data Feeds (DBCM, Estimates, Ratings, Revisions, Surprises, Prices) Subscription access to proprietary raw data files (DBCM daily/weekly, Zacks Indicator, Estimates, Ratings, Revisions, Surprises, Prices) downloaded by institutional clients for in-house systems, providing over 40 years of historical analyst-estimate data on ~8,500 companies.
• Portfolio Analytics Portfolio reporting program comparing user portfolios to benchmarks, with Portfolio Review, Diversification, Aggregate, and Return Attribution reports, plus style analysis and client communication materials.

Quantifiable outcome

• Zacks Rank #1 stocks: 23.9% annualized return over 38 years vs 11.5% for S&P 500
• +5 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability2 records

Feature14 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• BloombergflagshipChannel Partner/ Reseller/ DistributorZacks Equity Research reports and analyst-created financial models for 1,100 major U.S. companies and ADRs are distributed through Bloomberg. Zacks Models are FREE to all Bloomberg users; accessed via NH_ZCK and Ticker MODL . A separate Zacks Research Package subscription is required to access the underlying research that supports the models. Bloomberg is a flagship distribution channel into enterprise buy-side firms.
• FactSetflagshipChannel Partner/ Reseller/ DistributorZacks Equity Research reports for 1,100 companies can be accessed on FactSet. Distribution relationship provides Zacks with access to FactSet's enterprise buy-side user base.
• LSEG (Refinitiv)flagshipChannel Partner/ Reseller/ DistributorZacks Equity Research reports for 1,100 companies can be accessed on LSEG (formerly Refinitiv) platform. Distribution relationship providing enterprise buy-side access.
• S&P Capital IQflagshipChannel Partner/ Reseller/ DistributorZacks Equity Research reports for 1,100 companies can be accessed on S&P Capital IQ platform, enabling distribution to Standard & Poor's enterprise buy-side users.
• AlphasensecoreChannel Partner/ Reseller/ DistributorZacks Equity Research Reports are now distributed through Alphasense enterprise research platform alongside Bloomberg, FactSet, LSEG, and S&P Capital IQ.
• Infanger Investment Technology (IIT)coreStrategic or Co-development PartnerZacks partnered with Infanger Investment Technology, LLC to bring advanced Markowitz mean-variance portfolio optimization to Zacks Trading Strategy Evaluator (TSE) via IIT's IITPortf software. The integrated TSE/IITPortf combination supports back-test evaluation and 'production' mode single optimization runs, including alpha generation, internal factor modeling, risk factor exposure controls, and transaction cost optimization.
• Macro Economic AdvisorscoreStrategic or Co-development PartnerZacks works with economic consulting firm Macro Economic Advisors to develop the Zacks Economic Outlook, based on Macro Economic Advisors' econometric model of the US economy (cited twice as the most accurate model of the US economy). Forecast is presented in the monthly Economic Outlook report.
• theMarkets.com (TMC)minorChannel Partner/ Reseller/ DistributorReferral partnership: Zacks provides Research Delivery to smaller buy-side firms who do not use research from any of the ten brokerage firms that jointly own theMarkets.com (Barclays Capital, Citi Investment Research, Deutsche Bank Securities, Dresdner Kleinwort, Goldman Sachs, JP Morgan, Morgan Stanley, UBS). Zacks refers clients using research from these firms to theMarkets.com.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• S&P Capital IQ (S&P Global): Institutional research, data, and screening platform distributing Zacks Equity Research alongside its own fundamental data, S&P ratings, and credit analytics. Comparable in distribution and enterprise client overlap.
• LSEG (Refinitiv): Global financial data and infrastructure provider operating the Refinitiv Workspace terminal, I/B/E/S consensus estimates, and StarMine quant analytics. Distributes Zacks research and overlaps on consensus estimates and quantitative equity analytics.
• FactSet: Major institutional data, analytics, and research platform that both hosts Zacks' research and competes with it. Comparable on data feeds, screening, and portfolio analytics, but at much greater scale and breadth.
• Bloomberg L.P. Dominant financial terminal and research platform that both distributes Zacks' research (NH_ZCK, MODL ) and provides its own proprietary research, estimates, and analytics. A direct platform channel for Zacks and a potential competitive threat as it adds AI research tools.

Direct peers

• Value Line: Historic independent research and ranking publisher (founded 1931) with the Value Line Ranking System, equity research, ETF/mutual fund data, and institutional platforms. Comparable legacy quant ranking model and subscription-based research distribution.
• Argus Research: Long-standing independent equity research firm producing fundamental research, model portfolios, and quant scores distributed through Bloomberg, FactSet, and other terminals. Direct competitor in the third-party, non-broker research category where Zacks operates.
• Morningstar: One of the largest independent investment research providers, offering equity research, fund research, model portfolios, and advisor-facing software (Morningstar Direct, Advisor Workstation). Highly comparable to Zacks on quant ratings (Morningstar Rating), analyst research, and advisor tools.
• CFRA (S&P Global): Independent research provider (formerly part of S&P; now separate, owned by Macquarie) producing fundamental equity research, ETF research, and the Stock Reports Universe distributed across terminals. Directly comparable to Zacks in scale, distribution, and advisor audience.

Emerging players

• Sentieo (now AlphaSense) / Tegus: Research workflow platforms with expert-transcript libraries and AI search, increasingly competing for the same enterprise research budget as Zacks ZRS. Tegus (acquired by AlphaSense) is relevant for the expert-transcript and primary-research adjacency.
• AlphaSense: AI-powered enterprise research platform aggregating third-party research (including Zacks') and using LLMs for search and summarization. Both a distribution channel and a fast-scaling competitor, particularly for buy-side clients modernizing research workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/zatools
• YouTubeyoutube.com/channel/UC44qmdpCn7zGb0NoHN_YM-Q
• LinkedInlinkedin.com/company/zacks-professional-services

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zacks Professional Services