International Business Machines Corp (NYSE:IBM)
International Business Machines Corp (NYSE:IBM), provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
International Business Machines Corp News Update:
IBM (NYSE: IBM) declared that five new cloud partners have joined its growing ecosystem serving the U.S. federal government. Together with IBM, these resellers and distributors will focus on delivering new hybrid cloud innovations to assist spur wider cloud adoption across federal agencies. Arrow, Avnet Government Solutions, Ingram Micro, Tech Data Corporation and ViON will combine and bundle their solutions with IBM Cloud.
Despite all the attention that the federal government has placed on cloud, IDC estimates that only about six percent of federal applications run in the cloud. At the same time, the Administration’s projected fiscal 2016 budget estimates that about $7.3 billion will be spent on cloud computing and not simply for cost savings, but also to change how services are delivered.
“Federal agencies are really starting to view cloud as transformational, but first they need a reliable partner to assist them get started,” said Anne Altman, general manager of IBM U.S. Federal and Government Industries. “With our partners, we have a strong understanding of the IT investments agencies have made, and how to assist them with their migrations to cloud in a secure and planned way.”
“The federal government’s ‘Cloud First’ policy puts FedRAMP-approved data centers at the forefront of the hybrid-public cloud movement,” said Steve Robinson, global vice president and general manager of Arrow’s cloud business. “We have a unique opportunity to deliver value to public-sector channel partners through our partnership with IBM, and by leveraging Arrow’s commercial value-add cloud model in our federally focused immixGroup organization.”
Shares of International Business Machines Corp (NYSE:IBM), dropped -0.11% and is at $ 133.55 in the Real-Time trading session. The firm opened its current trade at $134.22. The total volume traded for the day is 418,794.00 shares, as compared to its average daily volume of 5.31M shares. The stock is floating in a range of $133.40 - $134.74. The stocks hold the market capitalization of $129.73B.
The mean estimate for the short term price target for International Business Machines Corp (NYSE:IBM), stands at $149.17 according to 18 Analysts. The higher price target estimate for the stock has been calculated at $170.00 while the lower price target estimate is at $125.00.
Analysts mean recommendation for the stock is 3.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
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