FTI Consulting, Inc. FCN yesterday announced expansion of its technology segment’s partnership with Relativity.
As part of this expansion, the company will provide its Relativity managed e-discovery services in Australia. It has expanded these services across North America, South America, Europe and Asia over the past two years.
We observe that shares of FTI Consulting have gained a massive 61.2% year to date, significantly outperforming the 28.1% rally of the industry it belongs to.
FTI Technology should benefit significantly from this expansion as investigations and litigation are increasing rapidly in Australia. According to the Australian Securities and Investments Commission, investigations have increased 20% from January 2019 to June 2019. Investigations into wealth management groups increased 216%. These trends are over and above an active cross-border discovery landscape.
According to Scott Gillard, a senior director at FTI Technology in Brisbane, “Our practice is experiencing rapid growth in this region, and with it, we are introducing new platforms and services to meet the needs of our client base. Adding Relativity to our portfolio gives us more ways to help legal teams reduce risk and navigate any range of e-discovery challenges with a single, trusted service provider.”
Zacks Rank and Other Stocks to Consider
FTI Consulting currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks in the broader Zacks Business Services sector are Huron Consulting HURN, Charles River Associates CRAI and Nielsen NLSN, each carrying a Zacks Rank #2 (Buy). Long-term expected earnings (three to five years) growth rate for Huron, Charles River and Nielsen is 13.5%, 13% and 12%, respectively.
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