Equifax, Inc. (NYSE:EFX) Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. significantly increased its stake in Equifax, Inc. by 119.3% in the first quarter, holding approximately 1.17% of the company worth $354 million.
• Analysts have expressed mixed sentiments, with Bank of America downgrading Equifax to a "neutral" rating and lowering their price target, while others like Morgan Stanley maintained an "overweight" rating with an increased price objective.
• Equifax reported better-than-expected quarterly earnings, with earnings per share at $2.00, surpassing analysts’ estimates of $1.92, contributing to a year-over-year revenue increase of 7.4%.

JPMorgan Chase & Co. grew its position in Equifax, Inc. (NYSE:EFX - Free Report) by 119.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,453,618 shares of the credit services provider's stock after acquiring an additional 790,919 shares during the quarter. JPMorgan Chase & Co. owned about 1.17% of Equifax worth $354,044,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EFX. Frank Rimerman Advisors LLC raised its stake in shares of Equifax by 7.9% during the first quarter. Frank Rimerman Advisors LLC now owns 1,256 shares of the credit services provider's stock worth $306,000 after purchasing an additional 92 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Equifax by 75.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,486 shares of the credit services provider's stock worth $26,179,000 after purchasing an additional 46,078 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Equifax during the first quarter worth approximately $32,000. Townsquare Capital LLC raised its stake in shares of Equifax by 9.0% during the first quarter. Townsquare Capital LLC now owns 17,832 shares of the credit services provider's stock worth $4,343,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Founders Financial Alliance LLC purchased a new stake in shares of Equifax during the first quarter worth approximately $304,000. 96.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EFX. Bank of America cut Equifax from a "buy" rating to a "neutral" rating and cut their price target for the stock from $300.00 to $285.00 in a research note on Monday, June 23rd. Citigroup cut their price target on Equifax from $294.00 to $290.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. UBS Group cut their price objective on Equifax from $315.00 to $278.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $305.00 price objective (up previously from $295.00) on shares of Equifax in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. cut their price objective on Equifax from $277.00 to $272.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.00.

Insider Buying and Selling

In related news, CEO Mark W. Begor sold 48,264 shares of Equifax stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $241.71, for a total transaction of $11,665,891.44. Following the completion of the sale, the chief executive officer owned 142,872 shares in the company, valued at approximately $34,533,591.12. This trade represents a 25.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Equifax Trading Up 0.6%

Shares of EFX stock opened at $241.07 on Wednesday. Equifax, Inc. has a fifty-two week low of $199.98 and a fifty-two week high of $309.63. The stock has a market cap of $29.84 billion, a P/E ratio of 47.18, a P/E/G ratio of 2.89 and a beta of 1.64. The business has a fifty day simple moving average of $255.67 and a 200-day simple moving average of $251.52. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

Equifax (NYSE:EFX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The credit services provider reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.51 billion. Equifax had a return on equity of 18.89% and a net margin of 10.95%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. On average, analysts forecast that Equifax, Inc. will post 7.58 earnings per share for the current fiscal year.

Equifax Profile

Equifax Inc operates as a data, analytics, and technology company. The company operates through three segments: Workforce Solutions, U.S. Information Solutions (USIS), and International. The Workforce Solutions segment offers services that enables customers to verify income, employment, educational history, criminal justice data, healthcare professional licensure, and sanctions of people in the United States; and employer customers with services that assist them in complying with and automating payroll-related and human resource management processes throughout the entire cycle of the employment relationship.

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