Cramer Backs Concur (CNQR); Says Company is Business-Travel Leader

Concur Technologies, Inc. (Nasdaq: CNQR) is moving higher after dipping lower Wednesday following the company's quarterly report. CEO Steve Singh spoke with Jim Cramer on yesterday's Mad Money program.

Singh said he is committed to building a great business which should bring long-term value to investors. Amid fierce competition, the exec noted that Concur is becoming the standard for travel management companies.

Along with offering a platform that allows travelers to go just about anywhere, the system also tracks expenses, bringing together all information in one place. Partners can use the company's open platform and suit it to their specific needs.

Amid Concur dropping 37 percent from recent highs over the last few months, Cramer is a firm believer in the company.

Notably, on Tuesday night, Concur posted Q2 EPS of $.15 with revs of $169.5 million, versus consensus expectations looking for EPS of $.09 and revs of $165.8 million.

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