Concur Technologies, Inc. (CNQR) Upgraded to Buy at Needham

Concur Technologies, Inc. (CNQR) has been upgraded today by the securities research analysts at investment firm Needham which have upgraded their performance outlook of CNQR from a “hold” rating to “buy.”  Needham did not provide a price target.  CNQR gapped north during the beginning of trading this morning but has since experienced a pullback.

Concur Technologies, Inc. is slated to release their next earnings report on July 28th, 2011 and the current EPS consensus estimate is 20 cents.  Their last earnings report was released on May 3rd, 2011 and announced negative EPS of 5 cents with revenue totaling $84.6 million which was up 16.2 % year to year.  CNQR is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.

Concur Technologies, Inc. is a global provider of on-demand Employee Spend Management solutions.  Their software solutions enable organizations to control costs by automating the processes used to manage employee spending.  The company has market capitalization of $2,615,000,000 and 53,657,000 shares outstanding.  CNQR has a 52-week high of $58.18 with the low being $39.94 dollars.

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