When I last wrote on NCR (NYSE:NCR) in December of 2013, I thought that NCR's acquisition of Digital Insight was a good move, but that ongoing skepticism about the company's pension status, FCF conversion, and ability to drive synergies across the business would likely keep the stock from realizing its significant upside over the next year.
With the shares basically flat in the five months since (and likely down once trading opens on Wednesday), I can't say I'm disappointed or surprised with the company's performance. The key to the NCR story remains its comprehensive hardware and software toolbox for financial institutions, its growth prospects within the retail and hospitality industries, and its conversion toward higher-margin software sales. NCR...
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