Ness Technologies, Inc. provides Information Technology (IT) business services and solutions to more than 500 clients in the commercial, industrial and government sectors. The company is known for its specialized expertise in software product engineering; system integration, application development and consulting; and software distribution. Ness Technologies delivers its services and solutions through offices located in 18 different countries with a work force of approximately 8,000 experienced professionals.
The company has formed strategic partnerships with many leading global software and infrastructure vendors to capitalize on a wide array of technologies and innovation. Ness Technologies continuously evaluates and pursues other potential partners to deliver the most effective and advanced solutions to its clients. By achieving the highest level of certification with many of its partners, the company has been able to leverage its early access to new product offerings to influence the development of new products and offerings.
In recent news, Ness Technologies was ranked 54th on the 2009 InformationWeek 500, which highlights the 500 most innovative users of business technology. The company was credited with utilizing its proven methodologies and innovative technologies to help customers in every part of the world while managing costs efficiently. Ness Technology believes its nimble responsiveness to be a key trait during the current economic downturn.
Currently, 2.14% of the shares outstanding are held by insiders and 76.70% are held by institutions. Two analysts believe the company is a “Strong Buy”, one believes it’s a “Buy” and one believes it’s a “Hold.” Next year analysts expect earnings per share of $0.62 compared to this year’s $0.43. Revenues are anticipated to total $638.05 million versus this year’s $595.44 million. Over the past five years, sales have increased at an average rate of 24.1% and net income growth has far outpaced the industry’s average at 62.7%.