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Edgewater Technology Inc. Message Board

  • anorak_uk anorak_uk Mar 24, 1999 9:26 AM Flag

    STAF - what the analysts think

    I've just stumbled on two of the revised
    analysts' notes - CSFB (5 March) and Stephens Inc (4
    March). Both downgraded from BUY to HOLD/NEUTRAL, but
    were bullish about the longer term prospects and
    management's measures to deal with the short-term problems.
    Here are some excerpts:

    CSFB (on share price of

    "We believe the long-term strategy is

    "Management is well positioned to take advantage of a sector

    "Ben Anderson...has the necessary skills to
    successfully manage [IntelliMark]....Several other
    nonperforming managers [in IntelliMark] have been replaced or
    are expected to be replaced."

    "There could be
    upside to our numbers [11% internal growth in 1999 and
    18% in 2000], especially in the second half of 1999,
    if the company can rebuild its IT services marketing
    efforts more rapidly than we project."

    operates in an industry with several favorable
    characteristics [more outsourcing, more flexible work
    relationships, and industry growth of 13-20% pa]; it also has
    the be a long-term winner in this

    "Building a global, multiservice, one-stop shopping HR
    services company....These key pieces should provide a
    platform for STAF to become a global HR services

    "The valuation looks compelling at approximately 5.8
    times forward EPS [comment: now 4.3

    Stephens Inc (on share price of $12.44)

    organizational changes that Clete Brewer has implemented are the
    right ones....the changes at IntelliMark are

    "It is our belief that the bulk of the negative news
    has been impounded in the stock. [comment: this was
    at $12!] We believe the price will eventually
    rebound to a multiple of 9 to 10 times estimated EPS
    range, which implies a 12-month price target of
    $15.00....Long-term investors should take advantage of an overdone
    sell-off. This is a one-divisional problem that will right
    itself by the first half of 2000."

    Hope this is


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    • Instinet is a third market trading
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      Good luck RDC. P.S. Sometimes my spelling sucks!

    • at the right and a screen will pop up showing the
      trades by employees of the company. What I would like to
      know is how to find out the size of the trades of the
      day....I'm only seeing the total number.

    • Can anyone tell me what is instinet and how can I watch it. I here it on CNBC and Bloomberg but don't quite get it? Thanks

    • Staffmark made one great move, they fired Jerry
      Poston. Jerry to say the least is a jerk. Staffmark is a
      young company that made several mistakes. They need to
      take into consideration the time it takes to bring the
      new companies that they have acquired under the
      StaffMark umbrella. You can't expect a 20% growth rate
      until the confusion and uncertainty and dead weight
      have been addressed. They need to get rid of former
      owners of smaller companies in a one year time span and
      acquire larger companies. There is too much loyalty with
      smaller companies with the former owners. Businesses need
      to be run internally by StaffMark management. They
      need to start the changes immediately, focus on
      organic growth, cut overhead, meet all the existing
      clients and let them know of changes at once, set
      internal growth for the first year at 10-12%, and move all
      upper management to Arkansas. With that said, Clete is
      doing a wonderful job. His age has nothing to do with
      his performance. Clete's only problem has been to put
      too much trust in Jerry Poston. I can assure you he
      has learned his lesson. StaffMark will be back in
      favor and will be a power house. I have first hand
      experience. My company was acquired by STAF. I have seen my
      investment down by millions, but I have also been buying
      aggressively. Most of these changes I have listed have taken
      place and in the end I'll be back on top. Cliff, some
      of us have lost more than lunch money. Analysts have
      to downgrade. My advise is to do your own homework
      and listen to people like Scott and let's give Clete
      and unsung heros like Don Marr the support they

6.62+0.17(+2.64%)Sep 18 4:00 PMEDT

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