Tag: Market Analysis

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 […]

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 →
Outsourcing: Top 10: Stocks Have Moved Up, But Are Things Better? | Market Analysis

Outsourcing: Top 10: Stocks Have Moved Up, But Are Things Better? | Market Analysis

Back to Market Analysis home The market has moved up recently, implying the economy has improved. Although there may be small incremental gains, we are far from being out of the woods in our opinion. We are getting indications that demand is stable in the outsourcing group, but no indications of acceleration. The net result […]

By September 13, 2012 Read More →
BPO Analysts Take on the Market Notes from Our NelsonHall Fireside Chat | Market Analysis

BPO Analysts Take on the Market Notes from Our NelsonHall Fireside Chat | Market Analysis

Back to Market Analysis home INVESTMENT CONCLUSION: We caught up with BPO industry analysts NelsonHall. First half 2012, BPO deal conversion rates have been hampered by macro factors and risk aversion following a strong 2011, potentially leading to pent up demand. There is an increasing focus on domain expertise, which translates into a Race Up the Value […]

By August 28, 2012 Read More →
Janney/VIT: Time To Start Thinking About the Merger | Market Analysis

Janney/VIT: Time To Start Thinking About the Merger | Market Analysis

Back to Market Analysis home VanceInfo reported quarterly results roughly in line with expectations. FY12 revenue guidance was raised but FY12 EPS guidance was lowered as the company attempts to shift impacted employees to other projects as a result of cancellations with two large clients. Synergies of the merger with hiSoft include scale to compete […]

By August 24, 2012 Read More →
Outsourcing: Top 10 Takeaways | Market Analysis

Outsourcing: Top 10 Takeaways | Market Analysis

Back to Market Analysis home The outsourcing space is facing two factors heading into 2013. The first is the macro. The space is at a critical juncture with price declines taking place, but contained to specific verticals (capital markets). If the macro remains stable, then the problem is contained, but if it deteriorates we could […]

By August 17, 2012 Read More →
Top 10 Takeaways: Earnings Season Ends on Up Note | Market Analysis

Top 10 Takeaways: Earnings Season Ends on Up Note | Market Analysis

Back to Market Analysis home Earnings season came to an end this week for the outsourcing group. Cognizant reported solid results and maintained 2012 guidance. The results ended the season on an up note. As we cross through the mid point of the year (2012), we turn our attention to 2013 prospects. The demand environment […]

By August 13, 2012 Read More →
Time To Start Thinking About the Merger | Market Analysis

Time To Start Thinking About the Merger | Market Analysis

Back to Market Analysis home VanceInfo reported quarterly results roughly in line with expectations. FY12 revenue guidance was raised but FY12 EPS guidance was lowered as the company attempts to shift impacted employees to other projects as a result of cancellations with two large clients. Synergies of the merger with hiSoft include scale to compete […]

By August 10, 2012 Read More →
1Q13 First Take; Better than Expected | Market Analysis

1Q13 First Take; Better than Expected | Market Analysis

Back to Market Analysis home  Our Thoughts: CSC reported results above expectations highlighted by improved margins. Management did not provide official FY13 guidance. In order to develop a creditable investment thesis, investors will need further color on the prospects for the company going forward. We look to the earnings call to provide that color. Other areas […]

By August 8, 2012 Read More →
First Take-Model Showing Some Resilience | Market Analysis

First Take-Model Showing Some Resilience | Market Analysis

Back to Market Analysis home  Our Thoughts: Cognizant reported better than expected quarterly results and maintained guidance. The model showed some resilience this quarter which should be positively viewed by the market given concerns over the lowering of the guidance. We acknowledge that we are not out of the woods yet; however, Cognizant is a […]

By August 6, 2012 Read More →
WIT: In Line Quarter, But Soft Guidance | Market Analysis

WIT: In Line Quarter, But Soft Guidance | Market Analysis

Back to Market Analysis home  Wipro reported IT Services results in line with expectations, but guidance fell short of estimates. Similar to Infosys, Wipro is caught in the perfect storm of facing organizational changes and a weakening demand backdrop. The sector decline has reached the stage of pricing discounts, which appear relegated to the areas […]

By July 27, 2012 Read More →
Janney/Outsourcing: KPMG 2Q12 Sourcing Survey: Emphasis On Solutions | Market Analysis

Janney/Outsourcing: KPMG 2Q12 Sourcing Survey: Emphasis On Solutions | Market Analysis

Back to Market Analysis home  KPMG held its 2Q12 Global Sourcing Advisory Pulse Survey. The outsourcing business is turning into a winners versus losers game, as customers are looking for solutions vs. labor arbitrage. Demand for vertical BPO is healthy particularly in F&A. The pricing environment eased, but the vendors’ ability to increase profitability remains […]

By July 25, 2012 Read More →
Janney/WIT: 1Q13 First Take-Results in Line, Guidance Light | Market Analysis

Janney/WIT: 1Q13 First Take-Results in Line, Guidance Light | Market Analysis

Back to Market Analysis home  Our Thoughts: Wipro reported quarterly results roughly in line with guidance. Volume growth of 0.8% was below peers with pricing down 1.7%, roughly in line with peers. Wipro guided to -1% to +1% sequential growth in the September quarter. We look to the conference call for more information on the […]

By July 24, 2012 Read More →