Latest news with #ITservices
Yahoo
2 hours ago
- Business
- Yahoo
Deutsche Bank Resumed a Hold Rating on Endava plc (DAVA)
Endava plc (NYSE:DAVA) is one of the . On July 16, Deutsche Bank resumed coverage on Endava plc (NYSE:DAVA) with a Hold rating and a $14 price target. The firm noted in a research report that the cautious rating reflects broader industry challenges, highlighting that the payments, processors, and IT services sectors have underperformed against the S&P 500 this year. This underperformance was driven by overly optimistic investor expectations around the November election that did not materialize. The analyst highlighted that trade uncertainties and concerns about consumer spending have made the outlook for the group very uncertain, which is the most uncertain in the last five years. Under the current market scenario, Deutsche Bank favors companies with consistent sales growth, margin expansion, and strong free cash flow generation. Endava plc (NYSE:DAVA) is a technology service provider specializing in digital transformation and engineering services. It helps clients design, develop, and deploy software products and platforms using agile and AI-driven approaches. While we acknowledge the potential of DAVA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
3 hours ago
- Business
- Yahoo
Blue Mantis Expands Federal IT Services Portfolio Under GSA Contract
Contract enables delivery of advanced cybersecurity, engineering, and compliance services to federal agencies nationwide PORTSMOUTH, N.H., July 22, 2025 (GLOBE NEWSWIRE) -- Blue Mantis, a leading provider of digital strategy and services specializing in managed services, cybersecurity, and cloud solutions, today announced its expanded service offerings under the U.S. General Services Administration (GSA) Multiple Award Schedule (MAS), specifically under Special Item Number (SIN) 54151S for Information Technology Professional Services. This award enables Blue Mantis to deliver a broad range of IT services to federal, state and local agencies, including cybersecurity architecture, enterprise network engineering, technical support, compliance and governance consulting. The SIN 54151S designation affirms Blue Mantis' qualifications to support complex public sector IT initiatives with scalable, secure, and standards-aligned solutions. Delivering Expertise Across the Federal IT LandscapeWith over 30 years of experience supporting public sector and enterprise clients, Blue Mantis brings deep technical expertise and a collaborative, outcome-driven approach to every engagement. Services available under SIN 54151S include: Cybersecurity Architecture & Risk Management: Design and implementation of secure IT environments aligned with NIST, SOC 2, and ISO 9001:2015 standards. Enterprise Network & Infrastructure Engineering: Scalable solutions for network modernization, virtualization, and cloud integration. Technical Support & Operations: Responsive, high-quality support services tailored to agency-specific operational environments. Compliance & Governance Consulting: Advisory services to ensure alignment with federal acquisition regulations and evolving cybersecurity mandates. A Trusted Partner for Federal Agencies'Being awarded a GSA contract is a significant milestone that reflects our commitment to delivering secure, innovative, and mission-critical IT services to federal, state and local governments,' said Josh Dinneen, CEO of Blue Mantis. 'We look forward to helping agencies modernize their infrastructure, strengthen their cybersecurity posture, and achieve measurable outcomes.' Contract Highlights: Nationwide Availability: Streamlined professional services procurement for federal agencies through the GSA MAS program. Tailored Engagements: Flexible service delivery models to support projects of all sizes and complexities. Proven Track Record: A history of successful engagements across federal, state, and local government sectors. For more information about Blue Mantis' GSA award, visit About Blue MantisBlue Mantis is a security-first IT solutions and services provider with a 30+ year history of successfully helping clients achieve business modernization by applying next-generation technologies including managed services, cybersecurity, cloud and collaboration. Headquartered in Portsmouth, New Hampshire, with offices in Charlestown, Massachusetts, the company provides digital technology services and strategic guidance to ensure clients quickly adapt and grow through automation and innovation. Blue Mantis partners with more than 1,500 leading mid-market and enterprise organizations in a multitude of vertical industries and is backed by leading private equity firm, Recognize. For more information, please visit Inquiries:David KnoxDirector of Public SectorBlue 987-2013Sign in to access your portfolio
CTV News
3 hours ago
- Business
- CTV News
Toronto-based IT firm Adastra sold to global investment firm Carlyle Group
Co-founder and co-chairman of the private equity firm The Carlyle Group David Rubenstein speaks in the panel "The Global Economic Outlook" on the last day of the forum's Annual Meeting in Davos, Switzerland, Friday, Jan. 19, 2024. (AP Photo/Markus Schreiber) TORONTO — IT company Adastra Group SE says global investment firm Carlyle Group Inc. has agreed to acquire a majority stake in the company. Adastra, which is co-headquartered in Toronto and Prague, Czech Republic, says it has more than 2,000 employees across several market-facing and global delivery centres. Terms of the agreement were not released. Carlyle says it has a track record of investing in and scaling up leading IT services companies globally. Adastra says Carlyle will aim to grow its data, cloud and AI offerings, supporting existing and new customers, as well as expanding its international presence through organic investments and targeted mergers and acquisitions. Adastra chief executive Rob Turner calls it an 'exciting and transformative step' for the company, saying he believes Carlyle's 'deep experience and global network' can help unlock a new phase of growth for the business. This report by The Canadian Press was first published July 22, 2025.
Yahoo
13 hours ago
- Business
- Yahoo
Earnings To Watch: ASGN (ASGN) Reports Q2 Results Tomorrow
IT services provider ASGN (NYSE:ASGN) will be announcing earnings results this Wednesday after the bell. Here's what to expect. ASGN beat analysts' revenue expectations by 0.6% last quarter, reporting revenues of $968.3 million, down 7.7% year on year. It was a slower quarter for the company, with a significant miss of analysts' EPS guidance for next quarter estimates and a miss of analysts' EPS estimates. Is ASGN a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting ASGN's revenue to decline 3.7% year on year to $996.6 million, improving from the 8.5% decrease it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ASGN has missed Wall Street's revenue estimates three times over the last two years. Looking at ASGN's peers in the it services & other tech segment, only Accenture has reported results so far. It beat analysts' revenue estimates by 2.3%, delivering year-on-year sales growth of 7.7%. The stock was down 3.6% on the results. Read our full analysis of Accenture's earnings results here. There has been positive sentiment among investors in the it services & other tech segment, with share prices up 4.5% on average over the last month. ASGN is down 1.9% during the same time. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio
Entrepreneur
4 days ago
- Business
- Entrepreneur
Hexaware Technologies Acquires SMC Squared for USD 120 Mn to Strengthen GCC Capabilities
The acquisition aims to create a comprehensive GCC services stack, combining Hexaware's IT delivery strengths with SMC Squared's expertise in setting up and managing GCCs. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Hexaware Technologies has announced the acquisition of SMC Squared, a global capability centre (GCC) enabler, for an enterprise value of USD 120 million. According to a disclosure filed with the Bombay Stock Exchange, the transaction includes an upfront payment of USD 90 million, with additional payouts linked to performance and a USD 30 million earnout bonus earmarked for exceeding targets. The acquisition aims to create a comprehensive GCC services stack, combining Hexaware's IT delivery strengths with SMC Squared's expertise in setting up and managing GCCs. With operations in the US and India, SMC Squared has established more than 30 GCCs using engagement models such as managed services, build-optimise-transfer, and hybrid solutions. The company reported a revenue of USD 22 million in 2024 and USD 16 million in the first half of 2025. Hexaware recently launched its GCC 2.0 service line, which integrates SMC Squared's capabilities with its own to provide end-to-end advisory, setup, operations, and optimisation services. This move is seen as a strategic step to cater to growing enterprise demand for more robust and value-driven GCC partnerships. "Our clients are increasingly looking for GCC partners who bring more than staffing or infrastructure," said Amrinder Singh, President and Head of EMEA and APAC Operations at Hexaware. "With SMC Squared, we gain proven governance, delivery credibility, and scale in areas where execution strength is non-negotiable." The combined entity is expected to drive accelerated growth, particularly among Hexaware's larger accounts. The GCC industry in India has seen rapid expansion, with over 1,800 entities currently operating. Industry estimates suggest the sector could surpass USD 100 billion in revenue by 2030, up from the present USD 65 billion. GCCs are evolving into technology hubs, serving critical transformation roles for global enterprises.
