Market Analysis

Explosive Growth Is No Accident: Driving Digital Transformation in the Insurance Industry

Explosive Growth Is No Accident: Driving Digital Transformation in the Insurance Industry

A successful digitalization strategy is critical to insurance firms’ survival. This white paper examines effective strategies for overcoming internal obstacles to digital transformation and the crucial role data plays in any insurance carrier’s business. Additionally, it clarifies the foundational capabilities that are key to a successful digital transformation initiative. They include: Driving business transformation with […]

Janney/Outsourcing: Outsourcing Preview: Still Playing Some Defense

Janney/Outsourcing: Outsourcing Preview: Still Playing Some Defense

Back to Market Analysis home We are taking a cautiously optimistic approach to the outsourcers June quarter results. The demand environment remains mixed with pockets of strength (North America, BFSI, & BPO) and weakness (EMEA, Telecom, & Consulting). The good news is BPO remains a bright spot. Earnings results are expected to be positively impacted […]

By July 11, 2013 Read More →
Janney/PAYX: First Take-Roughly In Line Results; Guidance

Janney/PAYX: First Take-Roughly In Line Results; Guidance

Back to Market Analysis home Our Thoughts: Paychex reported 4Q13 results with revenue and EPS coming in roughly in line with FY14 guidance slightly below expectations. The business appears to be on track on the whole, although still lacking a catalyst. We look to the conference call to provide more information on guidance and assumptions […]

By June 27, 2013 Read More →
Janney/Outsourcing: Gartner Chimes In On Visa Reform

Janney/Outsourcing: Gartner Chimes In On Visa Reform

Back to Market Analysis home Gartner held a conference call today to discuss the potential Visa reforms. Our main takeaways from the call are: Gartner’s insights into the key Visa reform issues are pretty consistent with our prior comments, Gartner provided its own assessment on the potential impact including an increase in customer costs, and […]

By June 10, 2013 Read More →
Janney/IGTE: First Take – Large Deal Pushed Out; Demand Better | Market Analysis

Janney/IGTE: First Take – Large Deal Pushed Out; Demand Better | Market Analysis

Back to Market Analysis home Our First Take: iGate reported slightly better than expected revenue with a bottom line beat helped by other income. Our initial takeaways are one of the two large deals announced has been delayed, 2013 demand appears better than last year, and it remains too early to tell what the impact […]

By April 11, 2013 Read More →
Janney/PAYX: Client Growth Necessary. | Market Analysis

Janney/PAYX: Client Growth Necessary. | Market Analysis

Back to Market Analysis home We maintain our NEUTRAL rating on Paychex as we look for a catalyst to drive results in the face of a slow economic demand backdrop, the emergence of the SaaS based model, and low interest rates environment. The good news is the selling season went well and we could be […]

By April 1, 2013 Read More →
Janney/CSC: Changes are Rapid, Apparent | Market Analysis

Janney/CSC: Changes are Rapid, Apparent | Market Analysis

Back to Market Analysis home We maintain our NEUTRAL rating on CSC as we are looking for a proper entry point or signs of a return to sustainable growth. We recently visited the headquarters of the company and the positive changes were apparent and visible. The rapid stock price movement since the beginning of the […]

By March 27, 2013 Read More →
Janney/ACN: Preview: Sticking with Quality | Market Analysis

Janney/ACN: Preview: Sticking with Quality | Market Analysis

Back to Market Analysis home We maintain our BUY on Accenture sticking with high quality names. The stock should outpace the market in 2013 even if there is a shake out after the recent macro driven run up. Accenture is expected to report solid results and maintain its guidance. The stock’s reaction to the results […]

By March 25, 2013 Read More →
Baird/Koning: Baird BPO Review: Offshore IT/BPO Services| Market Analysis

Baird/Koning: Baird BPO Review: Offshore IT/BPO Services| Market Analysis

Back to Market Analysis home Click on the Link below for additional details and important disclosures: https://baird.bluematrix.com/sellside/EmailDocViewer?encrypt=a38168f6-2ea1-40ad-ac7a-7d865bb211d5&mime=pdf&co=Baird Baird/Koning: Baird BPO Review: Offshore IT/BPO Services – March 18, 2013 Please click on the link above to access Baird’s bi-weekly BPO Review. Please feel free to distribute this publication within your organization. Back to Market Analysis home […]

Janney/WNS: Turnaround Story Progressing Nicely | Market Analysis

Janney/WNS: Turnaround Story Progressing Nicely | Market Analysis

Back to Market Analysis home We maintain our BUY rating on WNS following positive meetings with management confirming our belief that the turnaround story remains intact. WNS has a healthy pipeline that should continue to drive organic growth rates back to in line with industry average. We expect margin expansion to coincide as excess capacity […]

By March 11, 2013 Read More →
Janney/G: Well Positioned in Healthy End Market | Market Analysis

Janney/G: Well Positioned in Healthy End Market | Market Analysis

Back to Market Analysis home After traveling with management, we maintain our BUY rating on Genpact as we believe the company will produce better than market returns over the short and long term. Genpact is well positioned to capitalize on a healthy BPO demand backdrop. The company’s GE lineage and global reach serve as a […]

By March 11, 2013 Read More →
Top 10: Playing Defense to Year End | Market Analysis

Top 10: Playing Defense to Year End | Market Analysis

Back to Market Analysis home The sprint is on until the end of 2012. Recent stock price movements look sustainable in the absence of 2013 visibility, which we don’t expect this quarter. Investors remain locked in their positions, “Playing Prevent Defense Until Year End”. The decision to trim positions at 52-week highs is the easy […]

By October 5, 2012 Read More →
Baird/Koning/BPO: Industry Comments: Takeaways from Oracle OpenWorld Conference | Market Analysis

Baird/Koning/BPO: Industry Comments: Takeaways from Oracle OpenWorld Conference | Market Analysis

Back to Market Analysis home  Remain selective in IT Services, favoring CTSH/BPO providers, but would look to get more constructive around pullbacks in Neutral-rated stocks. CTSH is our best idea, given expectations for reaccelerating yoy revenue growth in Q4 (high historical correlation of growth acceleration and multiple expansion). Highlights from our recent trip to Oracle […]

By October 4, 2012 Read More →
Top 10: Accenture Sets the Tone; What Will Follow? | Market Analysis

Top 10: Accenture Sets the Tone; What Will Follow? | Market Analysis

Back to Market Analysis home Accenture set the tone for the outsourcing group reporting solid results and guidance. The key to the quarter was better than expected bookings ahead of expectations. The company’s bookings are unique given its favorable positioning in the market. We note bookings can be lumpy. We believe the demand environment is […]

By September 28, 2012 Read More →
Catalyst Needed to Drive Results Dividend Continues To Support Multiple | Market Analysis

Catalyst Needed to Drive Results Dividend Continues To Support Multiple | Market Analysis

Back to Market Analysis home INVESTMENT CONCLUSION: We maintain our NEUTRAL rating on Paychex following better than forecast first quarter results. Paychex lacks a immediate catalyst as new business formation remains muted and margins are held back by investments. There is the potential that the company loses market share to technology based vendors over the […]

By September 27, 2012 Read More →
Accenture FQ4-12 Earnings and F2013 Guidance Preview | Market Analysis

Accenture FQ4-12 Earnings and F2013 Guidance Preview | Market Analysis

Back to Market Analysis home  View risk/reward as balanced, based on valuation – more constructive below $60. ACN reports FQ4 results on 9/27, and will provide initial F2013 guidance. We expect FQ4 results to be slightly above our/consensus estimates, largely due to management conservatism and somewhat stable trends. For F2013, we anticipate revenue and EPS […]

By September 17, 2012 Read More →