On May 03, 2013, shares of
Concur Technologies, Inc.
) hit a 52-week high of $81.93. The average volume traded during
last one month is 776,407 shares. As of the close of trading on
May 03, the shares of CNQR reported a 21.13% year to date
return.Let us try to gauge the factors that led the stock to its
current peak level prices.
Shares of this leading provider of on-demand corporate expense
management services have been riding high after it started
entering into a number of strategic partnerships with various
companies. These include StayinFront; Egencia, the business
travel division of
; Universal VAT Services; and privately-owned company conTgo.
Such an aggressive partnership strategy is expected to benefit
Concur in the long run and augment its revenues.
Concur recently reported strong second quarter 2013 results on
May 01 with earnings per share (non-GAAP pre-tax income) of 24
cents, well above the Zacks Consensus Estimate of a loss of 3
cents. Pro forma earnings during the quarter were primarily
driven by a 100% growth in new bookings. The bookings were
primarily attributable to better-than-expected improvement in the
company's federal government ETS2 (E-Gov Travel Services 2.0)
online booking system contract and continued strength in the
Concur is expected to continue a sustained momentum in offering a
portfolio of new products in order to augment its revenues. The
company's strong competitive position and strategic market
initiatives are likely to facilitate it to perform well. Concur
also has a positive earnings growth expectation of 25.42% over
the next 5-year period. This is also coupled with a positive
sales growth expectation of 20.46%.
Other Stocks to Consider
Concur presently has a Zacks Rank #3 (Hold). Some other
companies in the industry worth considering at the moment are
Progressive Software Corp
), which has a Zacks Rank #1 and
having a Zacks Rank #2 (Buy).
CONCUR TECH INC (CNQR): Free Stock Analysis
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