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UiPath & NCS Strike Automation Service Partnership Deal
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UiPath & NCS Strike Automation Service Partnership Deal

UiPath (PATH) and NCS have entered into a partnership deal for the implementation of enterprise-grade automation capabilities. UiPath creates an end-to-end platform that provides automation with user emulation at its core. Shares of UiPath are down 2.3% at the time of writing.

Under this deal, NCS will introduce a NCS UiPath Automation Practice, with the goal of building automation solutions on the UiPath platform to strengthen its NEXT services. NCS NEXT allows businesses to use digital technology for operations, delivering value and growth.

By transforming into digital business, customers will benefit from improved efficiency along with being ready for emerging technologies. Further, automation makes it easier to get new customers on board, allows consistent operations and issue resolution, and increases convenience.

As per the agreed terms, NCS UiPath Automation Practice will operate with more than 250 employees. Also, NCS will make efforts to upskill and certify its UiPath practitioners in the next three years and “deploy hundreds of automations within the organization.”

Rick Harshman, Senior Vice President & Managing Director of Asia Pacific and Japan at UiPath said, “Asia Pacific is a rapidly evolving market with potential for tremendous growth for automation-first organizations. UiPath shares NCS’ vision for human-centric, sustainable automation adoption, democratizing access to technology that improves the world around us.”

Wall Street’s Take

On March 31, RBC Capital analyst Matthew Hedberg maintained a Hold rating on UiPath with a price target of $32 (upside potential of ~70% from current levels).

Consensus among analysts is a Moderate Buy based on 12 Buys and six Holds. The average UiPath price forecast stands at $37.03 and implies upside potential of 96.5% from current levels.

Insider Trading

Based on the recent corporate insider activity, corporate insider sentiment is Positive on PATH. This means that over the past quarter, there has been an increase of insiders buying shares of UiPath in relation to earlier this year.

Conclusion

The partnership seems to bode well for UiPath, as it can benefit from NCS’ expertise in digital services and as an early adopter of automation. Also, the collective bullishness of retail investorsbloggers, and insiders toward the stock is encouraging.

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