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Paychex, Inc. (PAYX) - free report >>
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Paychex, Inc. (PAYX) - free report >>
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Equifax (EFX) Gains 13.2% in the Past 6 Months: Here's How
Equifax Inc. (EFX - Free Report) shares have had an impressive run over the past six months. The stock gained 13.2% compared with 5.7% rise of the industry it belongs to.
Reasons for the Upside
Equifax remains focused on expanding and strengthening its customer base. Its efforts on delivering multi-data solutions by expanding differentiated data assets and analytics through organic growth, mergers and acquisitions, and partnerships are also noteworthy. The company uses proprietary advanced analytical platforms, machine learning, artificial intelligence and advanced visualization tools.
Image Source: Zacks Investment Research
EFX’s ongoing cloud data and technology transformation is aimed at driving innovation and product development, strengthening customer and partner integration. As part of the transformation, Equifax is migrating to a public cloud environment that engages virtual private cloud deployment techniques. The company remains focused on streamlining customers’ access to its analytical platforms.
Strong Earnings Growth
Driven by the above tailwinds, the Zacks Consensus Estimate for 2023 earnings indicates a surge of 0.7% year over year to $7.58 per share.
Zacks Rank and Stocks to Consider
Equifax 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 Zacks Business Services sector are Paychex, Inc. (PAYX - Free Report) and DocuSign, Inc. (DOCU - Free Report) .
Paychex carries a Zacks Rank #2 (Buy) at present. PAYX has a long-term earnings growth expectation of 7.5%.
Paychex delivered a trailing four-quarter earnings surprise of 5.9%, on average.
DocuSign is currently Zacks #1 Ranked. DOCU has a long-term earnings growth expectation of 13.7%.
DOCU delivered a trailing four-quarter earnings surprise of 6.6%, on average.