Credit Suisse (CS) Invests In India-based Sapience Analytics

In an effort to expand in markets with vibrant growth opportunities, Credit Suisse (SIX:CSGN) Asset Management’s NEXT Investors, a wing of Credit Suisse Group AG (NYSE:CS) , announced its plans to invest in Pune, India-based Sapience Analytics. Financial terms of the deal remain undisclosed.

Sapience provides distinctive enterprise workforce analytics and efficiency solutions. It has developed software which allows managers to track the usage of employees’ PCs, laptops, tablets and mobile phones and thus, help increase the productivity of their employees. They can track the daily/weekly/monthly activities of each of their direct employees, once the data has been uploaded to the server-component from each employee's computer. Hence, the company is known as a “people analytics solutions company.” Currently, Sapience has more than 100,000 users and over 70 major customers who use its technology.

Credit Suisse’s direct employees will not be using Sapience’s technology, instead the third parties working for Credit Suisse will be using it. This technology will enable institutions to manage their employees efficiently.

According to Greg Grimaldi, a portfolio manager at NEXT Investors, financial institutions need these services the most because they “need to be smarter in how they deploy resources and allocate workforce.”

Sapience’s CEO is very optimistic about the company’s growth in the U.S. markets, as its headquarters will be shifted to the United States. The above discussed investment will be primarily used to escalate the company’s expansion in the U.S. markets.

Shares of Credit Suisse have gained 13.1% over the last 12 months compared to the industry’s growth of 22%.

Currently, Credit Suisse carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the same space are KB Financial Group Inc (NYSE:KB) , ING Group, N.V. (NYSE:ING) and Bank of Montreal (TO:BMO) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KB Financial Group has been revised 16.2% upward for the current year over the last 60 days. Its share price has seen a 44% rise over the last 12 months.

ING Group witnessed upward earnings estimate revision of 4.1% for the current year in the last 60 days. Also, the stock has gained 41.4% in a year’s time.

Bank of Montreal’s Zacks Consensus Estimate has been revised 6.4% upward for the current year in the past 60 days. Also, in a year’s time, its share price has moved up 8.5%.

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