that to happen."
So is Perkins, who currently owns no shares in CA, ready to spring for some? "Not without some time going by, seeing that CA is serious about carrying through on what their commitments have been," he says.
Wang and Computer Associates CEO Sanjay Kumar probably won’t spend too much time savoring their victory. According to Peter Goldmacher, software analyst at Merrill Lynch, they have far more serious issues to address.
"This whole proxy battle was a sideshow and distraction from the real issues that CA continues to face," Goldmacher said Wednesday. "These guys generate the majority of their revenues from a market [mainframe computers] that is not growing quickly enough."
"They say they're doing the right things - ingratiating themselves to their customer base, keeping products fresh, creating a branding campaign," Goldmacher said. "All of that was announced prior to Ranger Governance coming along. They know they're in trouble. But it's a slow process, made harder by IT spending falling off a cliff. It will be a long time before you can see the results."
Consequently, Goldmacher would advise investors looking for tech stocks to shop elsewhere: "I would say now is not the right time buy CA."
In trading on the New York Stock Exchange, CA shares fell 78 cents Wednesday, to $31.93.
