H-P Wins Insurance Deal - Analyst Blog
12 März 2013 - 6:40PM
Zacks
Hewlett-Packard Company (HPQ) has secured a
deal from AAA Northern California, Nevada & Utah Insurance
Exchange (AAA NCNU IE). The insurance outfit selected HP to
maintain and upgrade its mainframe setup. This is a part the
insurance company’s plans to become a national insurance player.
As per this agreement, HP will continue to provide necessary
support to AAA NCNU IE's staff, which will help them maintain
applications and manage the latter’s database, providing support to
membership, policies, claims and other business
operations.
This is a unique combination, wherein AAA NCNU IE will leverage
HP Data Center Services and other infrastructure services for its
improve its daily operations. This will help AAA NCNU IE to provide
better insurance products and services to its growing
clientele.
Through deal wins and by adopting diversification strategies, HP
is taking aggressive measures to enhance its operations and
business model. The slump in its core computing market and
cannibalization by tablets has driven this computing giant to take
these measures.
Apart from insurance companies, the company is winning deals
from FMCG companies like Procter& Gamble Co.
(PG). PG has opted for HP Converged suites to achieve constant and
uninterrupted IT services.
In today's technology-driven world, the enterprise storage space
is one of the most enviable growth areas and we believe that HP is
doing very well in this category. Moreover, providing solution
related to a company’s decision support system and automating the
operation management process are other areas being slowly explored
by HP.
While the PC market is expected to remain in the doldrums this year
and declining revenues as well as competition from Dell
Inc. (DELL) and Lenovo are concerns, back-to-back product
launches and growing exposure to the enterprise storage space look
encouraging.
Currently, HP has a Zacks Rank #2 (Buy). Investors may also
consider technology stocks such as CA Inc. (CA),
which has a Zacks Rank #2 (Buy).
CA INC (CA): Free Stock Analysis Report
DELL INC (DELL): Free Stock Analysis Report
HEWLETT PACKARD (HPQ): Free Stock Analysis Report
PROCTER & GAMBL (PG): Free Stock Analysis Report
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