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Verisk (VRSK) to Benefit From Opta Acquisition: Here's How
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Verisk Analytics, Inc. (VRSK - Free Report) yesterday announced that it has completed the acquisition of Opta, a provider of property intelligence and innovative technology solutions.
Opta has been serving the Canadian insurance industry for more than 100 years. Opta provides data-driven insights and risk assessment solutions to insurance and financial services customers.
Over the past year, shares of Verisk have gained 8.8% against the 6.6% decline of the industry it belongs to. The Zacks S&P 500 composite has risen 14.7% in the same time frame.
Image Source: Zacks Investment Research
How Will Verisk Benefit?
The acquisition expands Verisk’s position in the Canadian market. Opta is joining Verisk’s insurance ecosystem, which has a wide range of solutions for rating, underwriting, policy administration, claims, exposure management and reinsurance.
Their combined domain expertise, advanced technology and unique data assets should help their diverse range of clients in the insurance industry, ranging from insurers, brokers and other financial services companies to governments and risk managers. The consoliodation will thus enhance their decision making and operational efficiency.
Mark Anquillare, Verisk’s chief operating officer and group president, stated, “Verisk and Opta share similar roots, an intense focus on our customers’ needs, and a passion to serve as key partners that anticipate the needs of a critical industry.” He further added, “Together, we’ll accelerate our customers’ innovation agendas and create news ways to add value to their business and the insurance ecosystem. We are pleased to welcome the Opta team to the Verisk family.”
Some better-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare (CCRN - Free Report) , Accenture (ACN - Free Report) and Clean Harbors (CLH - Free Report) . While Cross Country Healthcare and Clean Harbors sport a Zacks Rank #1, Accenture carries a Zacks Rank #2 at present.
Cross Country Healthcare has a trailing four-quarter earnings surprise of 41.5%, on average.
Shares of CCRN have surged 81.4% in the past year. Its long-term earnings growth rate is 6.6%.
Accenture has an expected earnings growth rate of 19.7% for the current year. ACN has a trailing four-quarter earnings surprise of 5.3%, on average.
The stock has rallied 22.6% in the past year. Accenture has a long-term earnings growth rate of 10%.
Clean Harbors has an expected earnings growth rate of 17% for the current year. CLH has a trailing four-quarter earnings surprise of 43.2%, on average.
Shares of Clean Harbors have gained 9.9% in the past year.
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Verisk (VRSK) to Benefit From Opta Acquisition: Here's How
Verisk Analytics, Inc. (VRSK - Free Report) yesterday announced that it has completed the acquisition of Opta, a provider of property intelligence and innovative technology solutions.
Opta has been serving the Canadian insurance industry for more than 100 years. Opta provides data-driven insights and risk assessment solutions to insurance and financial services customers.
Over the past year, shares of Verisk have gained 8.8% against the 6.6% decline of the industry it belongs to. The Zacks S&P 500 composite has risen 14.7% in the same time frame.
Image Source: Zacks Investment Research
How Will Verisk Benefit?
The acquisition expands Verisk’s position in the Canadian market. Opta is joining Verisk’s insurance ecosystem, which has a wide range of solutions for rating, underwriting, policy administration, claims, exposure management and reinsurance.
Their combined domain expertise, advanced technology and unique data assets should help their diverse range of clients in the insurance industry, ranging from insurers, brokers and other financial services companies to governments and risk managers. The consoliodation will thus enhance their decision making and operational efficiency.
Mark Anquillare, Verisk’s chief operating officer and group president, stated, “Verisk and Opta share similar roots, an intense focus on our customers’ needs, and a passion to serve as key partners that anticipate the needs of a critical industry.” He further added, “Together, we’ll accelerate our customers’ innovation agendas and create news ways to add value to their business and the insurance ecosystem. We are pleased to welcome the Opta team to the Verisk family.”
Zacks Rank and Stocks to Consider
Verisk currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare (CCRN - Free Report) , Accenture (ACN - Free Report) and Clean Harbors (CLH - Free Report) . While Cross Country Healthcare and Clean Harbors sport a Zacks Rank #1, Accenture carries a Zacks Rank #2 at present.
Cross Country Healthcare has a trailing four-quarter earnings surprise of 41.5%, on average.
Shares of CCRN have surged 81.4% in the past year. Its long-term earnings growth rate is 6.6%.
Accenture has an expected earnings growth rate of 19.7% for the current year. ACN has a trailing four-quarter earnings surprise of 5.3%, on average.
The stock has rallied 22.6% in the past year. Accenture has a long-term earnings growth rate of 10%.
Clean Harbors has an expected earnings growth rate of 17% for the current year. CLH has a trailing four-quarter earnings surprise of 43.2%, on average.
Shares of Clean Harbors have gained 9.9% in the past year.