Jones Lang LaSalleIncorporatedJLL - also known as JLL - is enhancing its digital skills in the wake of transformational evolution of project management technology. Most recently, it introduced a cloud-based global project management technology platform that will support the company's traditional commercial real estate project management.
Accordingly, the company's Project and Development Services group is partnering with Clarizen - a leading provider of collaborative work management solution - to leverage on the cloud-based software of the latter.
Importantly, Clarizen will configure its future-forward technology, and transform managing and delivery of JLL projects. The company offers high data security and global accessibility to team members, vendor and client users.
Further, the latest technology platform is equipped to integrate various data sources, mail applications and JLL's virtual reality solutions. This will enable users to view improved data visualizations on their desktop screens as well as mobiles. Also, the multilingual platform works in both metric and Imperial measurement modes, allowing document sharing and collaborating on the fly.
JLL's client and vendor teams can access a streamlined portal for all project management activities and documentation, along with global collaboration tools and dashboards, for real-time project task-tracking. Its financial reporting and project visualization features offer multiple ways to automate routine tasks and reporting, and present complex project information using graphics that convey clear insights.
Notably, adoption of this global platform will drive future advances in project management technology and artificial intelligence. The dedicated design platform will profoundly improve real-time collaborations among teams, enable informed decision making and optimize the workflow. This, in turn, will ease project delivery and impact the bottom line.
Per management, this transformational take highlights the company's efforts to remain competent amid rapidly-evolving landscape. Moreover, it will help JLL drive profitability for clients and the company.
Although the company is adding technological capabilities to differentiate its service offerings, intense competition from international, regional and local players in the market is a concern. In addition, given its international presence, JLL often faces unfavorable foreign currency movements, impacting top-line growth.
The stock carries a Zacks Rank #4 (Sell), at present.
Also, shares of JLL have underperformed its industry in the past six months. While shares of the company have lost 15.9%, the industry has gained 0.7% during the same time period.
A few better-ranked stocks from the same space are Colliers International Group Inc. CIGI , Deutsche Wohnen AG DWHHF and Sun Hung Kai Properties Ltd. SUHJY . All three stocks sport a Zacks Rank of 1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Colliers International's Zacks Consensus Estimate for 2018 earnings remained unchanged at $3.74 in a month's time. Its shares have returned 60.9% over the past year.
Deutsche Wohnen's Zacks Consensus Estimate for the current-year earnings remained unchanged at $1.58 over the last month. Its shares have gained 22.3% in a year's time.
The Zacks Consensus Estimate for 2018 earnings of Sun Hung Kai has remained stable at $1.51 over the past week. Its shares have increased 7.8% over the past year.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportSun Hung Kai Properties Ltd. (SUHJY): Free Stock Analysis ReportJones Lang LaSalle Incorporated (JLL): Free Stock Analysis ReportColliers International Group Inc. (CIGI): Free Stock Analysis ReportDeutsche Wohnen AG (DWHHF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research