11 Best Consulting Stocks to Buy Right Now

2. Equifax Inc. (NYSE:EFX)

Number of Hedge Fund Investors: 43

Equifax Inc. (NYSE:EFX) is a global data, analytics, and technology company that provides critical insights and solutions to help businesses and individuals make informed decisions. With a rich history dating back to 1899, Equifax Inc. (NYSE:EFX) has evolved into a leading provider of consumer and business credit information, workforce solutions, and identity and fraud solutions.

Equifax Inc. (NYSE:EFX) is focusing on the completion of its cloud transformation, a multi-year effort to migrate the vast majority of its data and applications to the Equifax Cloud. At the end of the third quarter, 80% of the company’s revenue was generated from cloud-based services and the company aims to reach 90% by the end of the year. This cloud migration has not only enhanced operational efficiency but also positioned the company to leverage advanced technologies such as artificial intelligence (AI) and machine learning (ML) for product development. The cloud transformation is expected to deliver significant cost savings and operational improvements and allow the company to focus more on customer growth and innovation.

Equifax Inc. (NYSE:EFX) is making significant strides in new product innovation and launched approximately 30 new products in Q3. Additionally, the company is expanding its AI and Machine Learning capabilities to develop higher-performing model products, with 100% of new models built by using Equifax AI in Q3 compared to 89% in the previous quarter. The company is developing advanced AI and ML solutions to expand its presence in the $20 billion identity and fraud market, which is expected to be a significant driver of future growth.