Is this the article? Excerpt from Interactive WSJ, August 12...
DOCUMENTUM
Documentum occupied about a half-percent position in Mr. Schaff's
fund, and he has added to that stake during recent price dips. The stock spiked briefly on Friday, after Robertson Stephens initiated coverage with a "buy" recommendation. But, trading near $41, it's still 31% off its 52-week high.
The company is a leading maker of software to help businesses manage
and store information. Documentum had early success with the pharmaceutical industry, developing software that drug makers use to
organize, edit and reuse information they need in the Food and Drug
Administration's application process. The company has since moved into
the manufacturing, financial-services and government markets.
"Directionally, this is the way business has to go [because of] information overload," says Mr. Schaff.
George Gilbert, an analyst with Credit Suisse First Boston in San
Francisco, says the returns to customers are high. He has a "buy" on the stock with a 12-month target of $75. He raised revenue projections last month, after Documentum reported second-quarter sales of $28.4
million, up 64% over the previous year. He is predicting revenue growth of 57% this year and 48% in 1999.
"It's been hard to do [document management] from a technology point of
view," says Mr. Gilbert, "and they've spent a long time perfecting their platform." |
