CIBER, Inc. (NYSE:CBR) Strikes Key Partnership with Infor HCM
Northern, WI 06/14/2013 (GDPInsider) – CIBER, Inc. (NYSE:CBR) opened trading today at 3.81, 0.02 down on its previous close of 3.83. The stock had an all-day low of 3.72 and an all-day high of 3.83 with 93,217 shares changing hands.
CBR operates as a worldwide information technology (IT) company and primarily offers application development and maintenance (ADM) services, and Ciber managed services (CMS). Since May the company has been making steady progress securing participation in a number of high profile endeavors.
The flood of positive developments started on May 16 when CBR announced that Le Duff America, a leading operator of cafés and restaurants, had selected CBR to help it merge its back-office operations with the then recently acquired, Mimi’s Restaurants. The selection of CBR to head up the integration of Le Duff’s database systems was a key move by Mike Clock, Le Duff’s CEO.
According to Mr Clock, “Once we saw how Ciber managed our last integration project, we knew we could trust them with this one. We also knew Ciber could manage the combination of Oracle and Infor technologies we use.”
Then at the end of May, CBR announced that it was selected after winning a bid, by the Dutch National Library to structure the ebook’s platform for all the libraries across the Netherlands. Under the terms of the agreement, CBR is set to set and manage the mobile applications software that will power the nations extensive digital library.
CBR capped off the positive news when it announced on June 14 that it has been engaged to help with the creation of an Implementation Accelerator for Infor Human Capital Management (HCM) applications. CBR was especially chosen to help create the acceleration tool to help companies implement Infor’s HCM solutions with bottlenecks are inordinate delays.
Amy Ihlen, Infor`s industry strategy director for HCM said that, “We chose Ciber as our development partner for the HCM Implementation Accelerator because of the company`s extensive experience with Infor applications and success rate implementing our HCM solutions.”
The latest developments it seems haven’t been priced into market valuation as yet and perhaps help to explain the slight downtrend.
CBR is up 0.90% on its SMA50 and analysts have set a target price of $6.00 for the stock. The stock has a RSI 35.87, indicating that at current market valuation it is near oversold territory. CBR has 74.60 million shares outstanding and institutions own 78% of the stock.
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