Research & Insight

Research & Insight

Market Analysis

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

David J. Koning CFA

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 the …

Catalyst Needed to Drive Results Dividend | Market Analysis

Joseph D. Foresi

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 …

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

Joseph D. Foresi

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 …

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

Joseph D. Foresi

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 …

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

Joseph D. Foresi

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 …

1Q13 First Take; Better than Expected | Market Analysis

Joseph D. Foresi

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 …

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