NEW YORK (TheStreet) -- Concur Technologies (CNQR) shares are up 18.1% to $127.43 on Friday after the company confirmed German software company SAP (SAP) would purchase it for $129 a share in a deal worth about $7.3 billion, including the company's debt.
The purchase price represents a 20% premium on Concur Technologies' Wednesday closing price of $107.47.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
SAP's purchase of Concur solidifies its position in the cloud computing arena with analysts estimating that the purchase will help bring SAP's cloud revenue up to approximately $2.6 billion annually.
TheStreet has in depth coverage of the deal here.
TheStreet Ratings team rates CONCUR TECHNOLOGIES INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONCUR TECHNOLOGIES INC (CNQR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."