NCR Corporation (NCR - Analyst Report) recently appointed Mark D. Benjamin as its new President and Chief Operating Officer (COO). Effective immediately, he will be responsible for the company's “Sales, Industry Solutions Management, Product Development, Services and Supply Chain Operations” and report to Chairman and CEO, Bill Nuti.
Prior to joining NCR, Benjamin worked with Automatic Data Processing, Inc. (ADP) for 24 years, where he held several important positions. He also worked as president of ADP’s Global Enterprise Solutions division, leading a team of 20,000 employees and serving clients over 100 countries. ADP is one of the largest providers of computerized transaction processing, data communication, and information services in the world.
NCR believes that Benjamin is ideal for the position, given his extensive knowledge and skill in cloud-based services. Moreover, the company believes that Mark’s vast experience will enable the company to effectively deliver new and integrated solutions that will add to NCR’s solid growth prospects.
Benjamin holds a series of educational and professional degrees, including a Bachelor’s degree in Business Administration, International Finance and Marketing from the University of Miami. Management believes that his considerable experience and business proficiency will be instrumental in helping the company achieve its long-term goals.
Going further, with his leadership traits, expertise and experience, he is expected to unlock further value. We believe that Benjamin’s sector and data center know-how will prove beneficial for NCR.
Investors are also encouraged by the new appointment as they expect the new COO and president to bring in greater innovation and undertake strategic initiatives to boost comps, going ahead.
The Zacks Rank #2 (Buy) company reported encouraging second-quarter 2016 results wherein the top and bottom lines surpassed the Zacks Consensus Estimate. The company raised its full-year 2016 revenue guidance and provided an encouraging third quarter revenue outlook.
Also, NCR’s growing exposure in the ATM and self-service kiosk spaces is encouraging, given the tremendous growth prospects in the respective markets. Continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins also drive growth. Moreover, NCR strengthened its position in the POS market through the integration of Radiant Systems.
However, softness in the ATM business in mature markets, competition from Diebold Incorporated (DBD - Snapshot Report) and HP Inc. (HPQ - Analyst Report) , and a high debt burden remain concerns.
NCR CORP-NEW Price
A better-ranked stock in the technology sector is Cirrus Logic Inc. (CRUS - Snapshot Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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