When you think of tech consulting, the names that initially come to mind are Accenture or Infosys or one of the big consulting firms with a tech practice. However, technology is a wide area, and there are plenty of sub-sectors within technology. One of the hottest areas currently being transformed by tech is fintech and finance. As more data is available in a digital economy, companies are able to derive more insights into creditworthiness, spending habits, capital utilization, etc. Companies like TransUnion are turning out to be the best consulting stocks 2021. TransUnion is one of the Big 3 credit bureaus in the US. It has extensive experience in data and credit history reports. However, it also has a consulting segment.
TransUnion reports Q12021 Earnings Results
TransUnion reported its first-quarter 2021 earnings results on 27th April 2021. Revenue rose from $687 million in Q12020 to $745 million. Operating income was up substantially from $136 million to $180 million, while net income per share on a diluted basis almost doubled from $0.37 in Q12020 to $0.66. US Markets and Canada saw double-digit growth in revenue, and so did India. Africa and Latin America, meanwhile, were the two regions with negative growth. The strong Q12021 results led management to raise their outlook for the rest of the year. Management attributed the positive results to strong underlying conditions in the US economy. If you are an investor looking for tech consulting stocks, then it may be worth your time to analyze TransUnion more closely.
TransUnion’s stock has had a strong run since late February 2021. The stock has gained almost 30% in a 2.5 month period. On a 1-year basis, the trend isn’t as strong, with the stock up about 36%. However, on a 5-year basis, the stock is up to 3X. TransUnion closed at $108 on 14th May 2021 and was trading at a dividend yield of 0.35%.