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Technology Stocks : Citation Computer (CITA)
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To: Robert Lawkins who wrote (158)6/29/1997 9:47:00 PM
From: marion salerni   of 1256
 
Reasons for liking CITA 1.Heavy insider buying over a two year period, both Chairman Copper and CFO Neece have sunk a good portion of their net wealth into this by buying stock on the open market.2. Related to that is the fact that due to the nature of CITA neither the chairman nor CFO can sell any of those shares on the open market( without trashing the stock).The only way they are going to be able to sell their stock is to sell the whole company. There has been a tremendous amount of consolidation in this area, with most of the deals being done in the range of 3 to 6 times sales. CITA is selling at around 1 times sales. On a buyout CITA should be worth at least $18. 3. They have revamped their sales force which should soon result in increasing sales, due to experience of new sales force. 4.Installed base worth $10 alone. 5. New products coming soon.6. Deal with Siemens India was a coup for Citation as Siemens already had an agreement with Cerner( one of CITAs competitors) to distribute Cerner's products.The fact that Siemens India chose CITA products instead indicates that they thought CITA products were better( despite the fact that CERN market cap is now over 20 times CITA.) Hopefully lack of analyst guidance regarding CITA will be rectified soon. y.
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