Legal Software Stocks Drop Due to Anthropic's New Tool
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 03 2026
0mins
Should l Buy RELX?
Shares of legal software companies are under pressure on Tuesday after Anthropic released a new AI automation tool. Shares of IT Services/BPO stocks are also weak today due to Anthropic's recent release of new plug-ins.MOVE INTO LEGAL:Shares of RELX Plcand Wolters Kluwer NV, both providers of professional analytics, fell more than 10% on Tuesday. Also trading lower were Experian, Thomson Reuters, Legalzoom.comand FactSet Research Systems.This follows Anthropic's launch of a new AI automation tool, which investors see as uniquely positioned to disrupt both traditional legal news and data providers as well as newer legal AI entrants, given Anthropic's role as a major foundation model developer within the AI ecosystem. On its plugin webpage, Anthropic lists a legal tool that it says can automate tasks such as contract review and legal brief drafting.GOOD VALUE IN ACCENTURE:In a research note to investors, Baird analyst David Koning noted that the firm's IT Services/BPO stocks - Accenture, Cognizant, Genpactand ExlService- were weak today, which appeared mostly due to Anthropic's recent release of new plug-ins. Gartner'sweak earnings release may be causing a little consternation as well, the analyst added. Baird is particularly puzzled by Accenture's 7% drop given its broad service mix and limited reliance on any single product. The firm likes Accenture a lot on this pullback, and expects Cognizant's results tomorrow to provide some relief.Baird also highlighted that from a recent fundamental perspective, recent results across IT Services have been solid in Q4, with guidance overall decent as well. Cognizant reports tomorrow, and the firm expects solid results, with Q4 revenue likely around top of guidance range, and 2026 Street EPS likely fine.PRICE ACTION:In morning trading, Accenture and Cognizant dropped over 9%, Genpact slipped about 8%, ExlService and Factset Research slid 10%, Relx plunged 14.5%, and Thomson Reuters dropped almost 18%.
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Analyst Views on RELX
Wall Street analysts forecast RELX stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 35.190
Low
60.54
Averages
60.54
High
60.54
Current: 35.190
Low
60.54
Averages
60.54
High
60.54
About RELX
RELX PLC is a United Kingdom-based global provider of information-based analytics and decision tools for professional and business customers. The Company operates in four market segments: Risk; Scientific, Technical & Medical; Legal, and Exhibitions. The Risk segment provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency. The Scientific, Technical & Medical segment helps researchers and healthcare professionals advance science and improve health outcomes by combining high-quality scientific and medical information. The Legal segment provides legal, regulatory and business information and analytics. The Exhibitions segment combines industry expertise with data and digital tools to help customers connect face-to-face and digitally, learn about markets, source products and complete transactions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Extensive Data Coverage: LexisNexis's database supports over 3.7 billion transactions annually for prescriber compliance verification, and as healthcare providers and pharmacies merge, the breadth and depth of its data will continue to increase, further enhancing its value to payers.
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See More
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- Technological Investments: The company's significant investments in automated workflow solutions and data security further solidify its leadership position in the healthcare industry, ensuring clients receive timely and flexible data management solutions.
- Industry Recognition: LexisNexis's Provider Data Management Suite has been highly rated for its comprehensive data quality and compliance, reflecting its strategic importance in meeting the needs of payers.
See More
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