ATLANTA - Equifax Inc . (NYSE: NYSE:EFX), a global data, analytics, and technology firm, announced today the appointment of Chad Borton as the new Executive Vice President and President of Workforce Solutions. Borton takes over the role from Rudy Ploder, who is retiring after two decades of service at the company.
Borton's appointment comes as Workforce Solutions, the largest and fastest-growing segment of Equifax, is positioned for continued growth and innovation, particularly with the integration of the Equifax Cloud™. CEO Mark W. Begor expressed confidence in Borton's ability to lead the division and execute the company's strategic priorities through 2026.
Chad Borton's career includes significant leadership roles in the financial sector. Before joining Equifax, Borton was the President of SoFi (NASDAQ:SOFI) Bank, where he oversaw the bank's growth to over $26 billion in assets and $21 billion in deposits. His resume also includes executive positions at USAA Bank, Fifth Third Bank, and JPMorgan Chase (NYSE:JPM), as well as a tenure serving financial services clients at McKinsey.
Borton, an Indiana University alumnus with a Harvard Business School MBA, also has a background in military service, having served on active duty in the United States Army. His broad experience in financial services and executive leadership is expected to be a considerable asset to Equifax's Workforce Solutions.
Equifax, headquartered in Atlanta, employs nearly 15,000 people and has operations or investments across 24 countries. The company provides critical decision-making solutions to various clients, including financial institutions, employers, and government agencies, leveraging its unique data, analytics, and cloud technology.
InvestingPro Insights
As Equifax Inc. (NYSE: EFX) welcomes Chad Borton to lead its Workforce Solutions division, investors and stakeholders may be interested in the latest financial metrics and analyst insights from InvestingPro. Equifax's market capitalization stands at a robust $28.54 billion, reflecting the company's significant presence in the data and analytics industry.
The company's stock is currently trading at a high earnings multiple, with a Price-to-Earnings (P/E) ratio of 51.02 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 49.0. This indicates that investors are willing to pay a premium for Equifax's shares, potentially due to the company's long history of maintaining dividend payments, with a record of 54 consecutive years, a testament to its financial stability and commitment to shareholder returns.
InvestingPro Tips highlight Equifax's impressive gross profit margins, which stand at 55.49% for the last twelve months as of Q1 2024. This suggests the company's ability to effectively manage its cost of goods sold and maintain profitability. However, investors should be aware that 14 analysts have revised their earnings downwards for the upcoming period, signaling potential headwinds that may affect the company's future performance.
For readers seeking deeper insights and additional analytic perspectives, InvestingPro offers more tips on Equifax, including assessments of the company's debt levels, valuation multiples, and stock price volatility. With these insights, investors can better understand the risks and opportunities associated with Equifax's stock. To explore these InvestingPro Tips further, visit https://www.investing.com/pro/EFX and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable investment information.
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