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ICF (ICFI) Completes Creative Systems and Consulting Buyout

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ICF International, Inc. (ICFI - Free Report) announced that it has completed the acquisition of Creative Systems and Consulting. The deal was initially announced on Dec 13, 2021.

Established in 2010, Creative is a provider of IT modernization and digital transformation solutions to U.S. federal agencies. Creative is an expert in planning, designing and managing SaaS environments through human-centered designs, and Development, Security and Operations approaches.

Over the past year, ICF International’s shares have appreciated 48% compared with the 7.6% growth of the industry it belongs to and 30.4% rise of the Zacks S&P 500 composite.

Zacks Investment ResearchImage Source: Zacks Investment Research

How Will ICFI Benefit?

The acquisition brings in nearly 270 professionals who are highly skilled in Salesforce and the Microsoft and ServiceNow platforms. This should complement ICF International's ServiceNow and Appian capabilities.

The deal is expected to expands ICF International’s federal IT modernization/digital transformation capabilities with leading Salesforce and Microsoft implementation teams.

Notably, acquisition is an important element of ICF International’s growth strategy. Strategic acquisitions have helped ICF International enhance its subject matter knowledge, expand offerings and provide scale in particular geographies. ICF International continues to explore acquisition opportunities to gain new clients, increase its presence in potential markets and strengthen its portfolio of services.

Zacks Rank and Other Stocks to Consider

ICF International currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other stocks in the broader Business Services sector that investors can consider are Avis Budget (CAR - Free Report) and Cross Country Healthcare (CCRN - Free Report) ), both sporting a Zacks Rank #1, and Charles River Associates (CRAI - Free Report) ), carrying a Zacks Rank #2.

Avis Budget has an expected earnings growth rate of 420.6% for the current year. The company has a trailing four-quarter earnings surprise of 76.9%, on average.

Avis Budget’s shares have surged 744.3% in the past year. The company has a long-term earnings growth of 18.8%.

Cross Country Healthcare has an expected earnings growth rate of 447.8% for the current year. The company has a trailing four-quarter earnings surprise of 75%, on average.

Cross Country Healthcare’s shares have surged 201% in the past year. The company has a long-term earnings growth of 21.5%.

Charles River Associates has an expected earnings growth rate of 61.2% for the current year. The company has a trailing four-quarter earnings surprise of 51%, on average.

Charles River’s shares have surged 119.3% in the past year. The company has a long-term earnings growth of 15.5%.