UP!

CPWR $10.35   View long term graphs

Compuware Corporation
Type
Private company
Industry Information technology
Founded 1973
Founder Peter Karmanos, Jr.
Thomas Thewes
Allen B. Cutting
Headquarters The Compuware Building
Detroit, Michigan, U.S
Area served
Worldwide
Key people
Chris O'Malley
(CEO)
Products Enterprise software
Services IT services
Website Compuware.com

Compuware Corporation is an American software company with products aimed at the information technology (IT) departments of large businesses. The company's services also include testing, development, automation, and performance management software for programs running on mainframe computer systems. The company has its headquarters in Downtown Detroit, Michigan.

In December 2014, Compuware was acquired by private equity firm Thoma Bravo and became a privately held company.

In 1973, Peter Karmanos, Jr., Thomas Thewes, and Allen B. Cutting established Compuware Corporation. Their vision was to help people do things with computers by providing their clients with professional technical services, allowing them to focus on their own core businesses. In 1977, Compuware introduced Abend-AID, its first software product. Designed to detect bugs and suggest corrective action in corporate IBM mainframe systems. The release of Abend-AID established a product strategy for Compuware, alleviating the peaks and valleys of revenue that occur in the services business. By 1978, Compuware opened its first remote office to service the Washington, D.C. and Baltimore area.

Compuware launched its File-AID product line. Using a request-driven interface, File-AID products help programmers and developers quickly and easily find, create, extract, transfer, fix, convert, load, edit, age, and compare data. This allows developers to focus on developing and maintaining applications that meet business needs. Compuware also announced Playback, the company's first automated testing tool. Later, Compuware moved from its Southfield location to a new corporate headquarters in Farmington Hills, Michigan. Compuware also acquired its first European subsidiaries during the 1980s. Compuware launched Powerbase with Datazoom, a very user-friendly, non-programmable, relational database for MS-DOS through Compuware/Power-base Systems, Inc.[1]

Throughout the 1990s, Compuware acquired several companies, building their position in the marketplace, including Centura Software, XA Systems, EcoSystems Software, Uniface development environment, Hiperstation, Coronet, Direct Technology Limited, DRD Promark, Inc, NuMega, Data Processing Resources Corporation, Programart, and the CACI Products Company.

In 1992, Compuware completed its initial public offering (IPO) of stock trading on the NASDAQ under the symbol CPWR. In 1994, Compuware commenced a secondary public offering to raise cash, and named Joseph A. Nathan President and Chief Operating Officer. By April 1998, Compuware had more than $800 million in sales. At the end of 1998, Compuware surpassed the US$1 billion revenue mark. In 1999, the number of Compuware employees grew considerably, prompting the company to build a new headquarters building in Campus Martius Park in Detroit, Michigan.

Since 2000, Compuware has acquired e-business services firms BlairLake, Inc., Nomex, Inc., Covisint, LLC, Adlex, Inc., SteelTrace, Changepoint, Proxima Technology's Centauri Business Service Manager. In 2003, the company's 30th year of existence, Compuware completed construction on its new world headquarters building in downtown Detroit. On November 9, 2009 Compuware acquired Gomez, Inc. for its application performance management software.

On July 6, 2011, Compuware acquired dynaTrace software. On September 25, 2013 Compuware subsidiary Covisint announced pricing of Initial Public Offering. On January 8, 2014 Compuware announced the planned divestiture of its Changepoint, Professional Services, and Uniface divisions to Marlin Equity Partners for $160 million. Compuware completed a spin-off of Covisint on October 31, 2014.

In December 2014, Compuware was acquired by private equity firm Thoma Bravo, LLC.

On September 2, 2014 Compuware and private equity firm Thoma Bravo, LLC, jointly announced that Compuware had entered into a definitive agreement to be acquired by Thoma Bravo for approximately $2.5 billion. After finalizing the deal in December 2014, plans were announced to separate Compuware's remaining Mainframe and Application Performance Management (APM) business units into two distinct companies. The mainframe business unit retains the Compuware name and is exclusively focused on mainframe software. Christopher O'Malley is the current CEO. Compuware's former APM business operates independently under the new Dynatrace name with John Van Siclen operating as CEO.

As a result of the privatization, Compuware stock is no longer listed on the NASDAQ.

Beginning in 2014, around the time of Thoma Bravo, LLC’s acquisition, Compuware began shifting from a Waterfall development methodology to Agile development. With the release of Compuware Topaz—a solution that allows developers, data architects and other IT professionals to discover, visualize and work with mainframe and non-mainframe data in a common, intuitive manner—on January 5, 2015, Compuware has since released net-new mainframe software on a quarterly basis.

In an interview with Jim Probasco of Benzinga, Compuware CEO Chris O’Malley said the company had adopted a startup mentality and that he supported an “agenda of innovation where our strategy is, every quarter like clockwork, to introduce updates to the existing base of technology as well as bringing out net new products.”

“We’ve completely retooled development,” he added, “and gone from the traditional ‘waterfall’ model that usually has 12 to 18 month development cycles [...] (to one that is) quarterly with an ‘agile’ methodology.”

By pursuing technology integrations and partnerships with companies focused on non-mainframe DevOps software, Compuware has allowed “CIOs to shift responsibility for mainframe applications to enterprise DevOps staff with mainstream skills using popular tools within today’s mainstream culture of agility and innovation.” According to eWeek, “O’Malley said he believes that large enterprises that fail to bring Agile and DevOps best practices to their high-value COBOL applications will remain competitively disadvantaged against smaller, nimbler market disrupters.”

Since being acquired by Thoma Bravo, LLC, Compuware has forged multiple integrations and partnerships.

Compuware company has made the following acquisitions since going private:

Compuware is a global company operating in North America, Australia, Europe, and Asia. The company's world headquarters are at One Campus Martius, Detroit, Michigan 48226. Compuware moved its headquarters and 4,000 employees to Downtown Detroit in 2003. Prior to the move, the headquarters were in Farmington Hills, Michigan. In December 2014, Compuware announced that Bedrock Real Estate Services and Meridian Health jointly purchased the Compuware headquarters building. Compuware still runs its global operations out of the building.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2014 2014-10-23 0.09 0.04
Q1 2014 2014-07-29 0.05 0.00
Q4 2013 2014-05-22 0.10 0.04
Q3 2013 2014-01-23 0.17 0.09
Q2 2013 2013-10-24 0.13 0.04
Q1 2013 2013-07-23 0.10 0.02
Q4 2012 2013-05-21 0.05 -0.30
Q3 2012 2013-01-22 0.12 0.12
Q2 2012 2012-10-23 0.05 0.05
Q1 2012 2012-07-24 0.05 0.05

Ratings

2014-09-26 Upgrade Evercore ISI Equal Weight to Overweight
2014-09-02 Downgrade Evercore ISI Overweight to Equal Weight
2014-07-31 Lower Price Target Noble Financial $11.60 to $0.90
2014-05-23 Reiterated Rating Noble Financial Buy $12.50
2013-10-31 Initiated Coverage Evercore ISI Overweight
2010-11-17 Reiterated MKM Partners Buy $10 to $12
2010-09-15 Initiated MKM Partners Buy $10
2010-05-10 Initiated Northland Securities Outperform $9.50
2008-12-01 Initiated Cowen & Co Neutral
2008-07-02 Upgrade JP Morgan Neutral to Overweight
2008-05-19 Upgrade Banc of America Sec Neutral to Buy
2008-01-25 Upgrade Piper Jaffray Neutral to Buy
2007-06-21 Downgrade Banc of America Sec Buy to Neutral $12
2007-04-19 Downgrade Piper Jaffray Outperform to Market Perform
2007-02-08 Reiterated Banc of America Sec Buy $10 to $11
2014-09-26 Upgrade Evercore ISI Equal Weight to Overweight
2014-09-02 Downgrade Evercore ISI Overweight to Equal Weight
2014-07-31 Lower Price Target Noble Financial $11.60 to $0.90
2014-05-23 Reiterated Rating Noble Financial Buy $12.50
2013-10-31 Initiated Coverage Evercore ISI Overweight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In CPWR 0 funds of 2183 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
COMPUWARE CORP 14.26%  (31384920) COVS / CPWR /
ARCHER DENNIS W 0.10%  (214571) CPWR / JCI / MAS /
ROMNEY G SCOTT 0.02%  (50452) CPWR /

Comments