Time to take profits in Concur Technologies (CNQR +1.1%), D.A. Davidson asserts, cutting its...

|About: Concur Technologies, Inc. (CNQR)|By:, SA News Editor
Time to take profits in Concur Technologies (CNQR +1.1%), D.A. Davidson asserts, cutting its rating on the stock to Neutral from Buy. After gaining 20% YTD, shares now trade at a PE of 54x the firm's FY2013 forecast, 24x enterprise value/EBITDA and ~6x sales, multiples it says is in the range of premium levels paid for recent cloud-based software deals.