A provider of technology-based solutions for the legal and fiduciary services industries. Its products and services assist clients with the administration of complex legal proceedings.
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EPIQ Systems Inc. (EPIQ) is a provider of technology-based solutions for the legal and fiduciary services industries in the US. The company's products and services assist clients with the administration of complex legal proceedings, including electronic litigation discovery, bankruptcy administration and class action administration.
EPIQ conducts its business through two segments namely Case Management and Document Management. Case Management provides clients with integrated technology-based products and services for the automation of various administrative tasks. Document Management, deals in providing technology and production, services to ensure timely, accurate and complete execution of the many documents associated with multi-faceted legal cases and communications applications. The company's clients include law firms, corporate legal departments, bankruptcy trustees and other professional advisors.
However, the total bankruptcy filings as on September 30, 2006 stood at 1,112,542 down by 37.6% from September 30, 2005, which were 1,782,643. If these filings dip further, it could affect the company’s top-line. However, the company’s growth oriented strategies and unique product specifications will help it survive the drop in the filings. Further, in the recent months EPIQ recruited new sales and client relationship executives in New York, London, Chicago, Los Angeles, and northern California and opened a full-service office of its electronic discovery business in Los Angeles. This move of the company signals that the management believes that still a lot of markets are unexplored possessing huge potential for its offerings.
Recently, the company’s wholly owned subsidiary EPIQ Advisory Services Inc. acquired the claims preference business of Gazes LLC for a total value of $13.8 million. This acquisition will facilitate EPIQ eliminating competition to some extent and give a boost to its case management service. On the back of growth-oriented strategies the stock is a good buy at current levels.