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On May 03, 2013, shares of Concur Technologies, Inc. hit a 52-week high of $81.93. The average volume traded during last one month is 776,407 shares. As of the close of trading on May 03, the shares of CNQR reported a 21.13% year to date return.Let us try to gauge the factors that led the stock to its current peak level prices.

Growth Drivers

Shares of this leading provider of on-demand corporate expense management services have been riding high after it started entering into a number of strategic partnerships with various companies. These include StayinFront; Egencia, the business travel division of Expedia Inc. (EXPE - Free Report) ; Universal VAT Services; and privately-owned company conTgo. Such an aggressive partnership strategy is expected to benefit Concur in the long run and augment its revenues.

Concur recently reported strong second quarter 2013 results on May 01 with earnings per share (non-GAAP pre-tax income) of 24 cents, well above the Zacks Consensus Estimate of a loss of 3 cents. Pro forma earnings during the quarter were primarily driven by a 100% growth in new bookings. The bookings were primarily attributable to better-than-expected improvement in the company’s federal government ETS2 (E-Gov Travel Services 2.0) online booking system contract and continued strength in the commercial business.

Moving ahead,Concur is expected to continue a sustained momentum in offering a portfolio of new products in order to augment its revenues. The company’s strong competitive position and strategic market initiatives are likely to facilitate it to perform well. Concur also has a positive earnings growth expectation of 25.42% over the next 5-year period. This is also coupled with a positive sales growth expectation of 20.46%.

Other Stocks to Consider

Concur presently has a Zacks Rank #3 (Hold). Some other companies in the industry worth considering at the moment areProgressive Software Corp. (PRGS - Free Report) , which has a Zacks Rank #1 and Symantec Corp. (SYMC - Free Report) having a Zacks Rank #2 (Buy).

In-Depth Zacks Research for the Tickers Above

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Symantec Corporation (SYMC) - free report >>

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Progress Software Corporation (PRGS) - free report >>

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