Seeking Alpha: NCR Corp. Still Undervalued, But Not Helping Its Cause

When I last wrote on NCR (NCR) in December of 2013, I thought that NCR's acquisition of Digital Insight was a good move, but that ongoing skepticism about the company's pension status, FCF conversion, and ability to drive synergies across the business would likely keep the stock from realizing its significant upside over the next year.

With the shares basically flat in the five months since (and likely down once trading opens on Wednesday), I can't say I'm disappointed or surprised with the company's performance. The key to the NCR story remains its comprehensive hardware and software toolbox for financial institutions, its growth prospects within the retail and hospitality industries, and its conversion toward higher-margin software sales. NCR still gets the opposite of the benefit of the doubt from the Street and still offers attractive upside from these levels, though management has to start generating better FCF conversion and guidance to realize that upside.

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NCR Corp. Still Undervalued, But Not Helping Its Cause

Seeking Alpha: VeriFone Takes A Big Swing

While investors in VeriFone (PAY) may feel that the board of directors has tolerated operational mistakes for too long already, a far more definite move was made on Monday. After the close, the company announced that CEO Doug Bergeron is stepping down immediately from his role as CEO and leaving the board of directors. This move certainly brings closure to an executive tenure that had recently turned sour, but it also increases the uncertainty of the company's near-term trajectory. On a longer term basis there would seem to be value in the shares, but there's an uncomfortable amount of hope in that thesis.

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VeriFone Takes A Big Swing

Seeking Alpha: VeriFone Now A Falling Knife

Questioning the valuation of a growth stock is a good way to fill up your inbox with hostile emails, but VeriFone (PAY) is offering up a case study in why valuation always matters. While the company is still growing, and still has an attractive global market opportunity, multiple missteps have led to a one-two punch of lower estimates and substantially lower multiples on those estimates. Although these shares may finally be resetting to a point where the valuation makes it appealing, management is going to have a long road back to reestablishing credibility with the Street.

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VeriFone Now A Falling Knife

Investopedia: The Market Seems To Have Shifted From Blind Love To Blind Fear With VeriFone

The stock market is a funny place sometimes; one where you may just find yourself defending a stock you used to criticize pointedly. And yet, that's where I feel I am with VeriFone (NYSE:PAY). I didn't like this stock much back in the "what, me worry?" go-go momentum days and I'm glad I didn't actually short it, as the stock just kept climbing from 2009 to 2011. Now it's a different story. Investors have raised questions about how the company reports organic growth and everybody seems to be getting on board the mobile payments bandwagon. Although VeriFone still carries pretty robust fundamental valuation ratios every value investor looks at, this is a company that looks well-placed for ongoing growth. The question for investors now, though, is whether the company can please a momentum crowd that no longer seems willing to give the company much benefit of the doubt.

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Investopedia: VeriFone Turning Into A Noisy Growth Story

Seemingly no growth story can go on for too long without seeing some doubts and controversy creep into the name. In the case of VeriFone (NYSE:PAY), it seems like the bears and bulls are increasingly at loggerheads. Bulls point to the ongoing upgrade and sales potential at traditional points like gas stations and retail stores, as well as the opportunity in the evolving mobile payment market. Bears argue, though, that organic sales growth isn't as strong as it seems, the upgrade cycle may be slow to develop and mobile could be as much a threat as an opportunity.

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http://stocks.investopedia.com/stock-analysis/2012/VeriFone-Turning-Into-A-Noisy-Growth-Story-PAY-V-MA-MCRS-NCR0529.aspx

Investopedia: NCR An Interesting Mix Of Growth And Stability

Increasing automation is a fact of life, and NCR (NYSE:NCR) has a central role in making that happen. Dealing with ATMs instead of tellers is a long since accepted practice, and customers have either chosen or been forced to accept automated kiosks in lieu of working with human workers in a variety of other industries. Although NCR isn't likely to post torrid growth, the overall growth and value balance looks interesting.


ATMs a Solid Base
To a large extent, the North American ATM market is a replacement market where Diebold (NYSE:DBD) and Wincor Nixdorf have built a fairly lucrative industry with huge barriers to new entrants. For related reading, see The Ins And Outs Of Bank Fees.


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5 Software Stocks Worth A Closer Look

Software is a huge sector, and like any huge sector there is a mix of wheat and chaff. The trick, then, is to separate the two and focus one's time on the most promising ideas. The following are five above-average software companies that are worth a closer look by investors seeking some technology ideas with solid chances of market-beating performance.

1. Cognizant Technology Solutions (Nasdaq:CTSH)
Cognizant is the youngest of the Tier 1 Indian IT firms (which includes Infosys (Nasdaq:INFY) and Wipro (NYSE:WIT)), and has the added twist of a U.S.-based management. Employee turnover is quite high compared to U.S. software companies, but this is nothing new in this sector. The company has a high reliance on financial services, but recently crossed the $1 billion mark in quarterly revenue despite the uncertain conditions in the sector. Wage and tax pressures in India are concerns to monitor, but recent revenue growth in excess of 40% and increasing analyst estimates suggest solid near-term momentum.

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http://stocks.investopedia.com/stock-analysis/2010/5-Software-Stocks-Worth-A-Closer-Look-CTSH-DST-MCRS-ORCL-RHT-INFY-VMW1013.aspx