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CA Technologies (CA - Analyst Report) recently announced the launch of CA Nimsoft Monitor Snap, a feature-rich free utility version of its popular CA Nimsoft Monitor solution.

Network accessibility is always vital for continuity of business operations. The launch of CA Nimsoft Monitor Snap will help CA to meet growing business needs with improved flexibility and security.

CA Nimsoft Monitor Snap is a powerful tool that caters to the need of emerging IT enterprises with affordable and quick services. The new offering features dashboards, alerts and guided workflows, which in turn help to identify and resolve critical issues. Additionally, CA Nimsoft Monitor Snap has been fairly well received by IT organizations.

The spending environment remains cautious however, so any success with the new product will be tempered by broader macro concerns. According to the latest report from Gartner, worldwide IT spending is expected to increase 0.8% and reach $3.7 trillion in 2013 and increase 3.6% to reach $4.3 trillion by 2017.

Prior to this, CA extended its IAM suite with the launch of XSpectra, which combines CA CloudMinder and Mycroft’s security operations expertise. XSpectra services enable single sign-on, identity management & risk-based authentication along with providing IAM functionality at lower costs.

CA Inc.’s cloud expansion and restructuring initiatives remain on track. A decent renewal rate, modest cash position and share repurchase activities also appear encouraging. This apart, bookings growth remains robust, supported by both North American and International bookings. The company is also witnessing an increase in license wins.

However, increasing competition from companies like Hewlett-Packard Company (HPQ - Analyst Report), Oracle Corporation (ORCL - Analyst Report) and exposure to Europe remain concerns.

CA currently has a Zacks Rank #3 (Hold). Investors can also consider other stocks in the technology industry that are currently performing well such as Micron Technology Inc. (MU - Analyst Report), with a Zacks Rank #1 (Strong Buy).

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