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    Maggie Nolan

    Partner and Research Analyst at William Blair & Company, L.L.C.

    Maggie Nolan, CPA, is a Partner and Research Analyst at William Blair & Company, specializing in the coverage of IT services companies within the technology sector. She covers a portfolio of 26 stocks, including notable firms such as TTEC, and her analyst recommendations have resulted in a success rate of 42.45% with an average return per transaction of -2.00%. Since joining William Blair in June 2015, Maggie has developed expertise in technology, media, and IT research, with prior academic credentials that include a Bachelor of Science in business with majors in finance and accounting from Miami University. As a certified public accountant, she brings rigorous financial acumen and industry insight to her research and stock analysis.

    Maggie Nolan's questions to Globant (GLOB) leadership

    Maggie Nolan's questions to Globant (GLOB) leadership • Q2 2025

    Question

    Maggie Nolan questioned whether the Globant Enterprise AI platform enhances customer stickiness compared to traditional projects. She also asked for details on large deals nearing closure and the expected growth trajectory by geography and vertical.

    Answer

    CEO Martín Migoya and CTO Diego Tártara described the Enterprise AI platform as a 'golden path' for AI adoption that provides governance and integration, thereby increasing stickiness. Migoya confirmed large deals are in advanced stages in US financial services and healthcare, and Latin American CPG. CFO Juan Urthiague added that Latin America is stabilizing while key US verticals show strong performance.

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    Maggie Nolan's questions to MAGIC SOFTWARE ENTERPRISES (MGIC) leadership

    Maggie Nolan's questions to MAGIC SOFTWARE ENTERPRISES (MGIC) leadership • Q2 2025

    Question

    Maggie Nolan of William Blair & Company, L.L.C. asked for commentary on the sales pipeline development, including the size and types of deals, and questioned the strategy behind a small acquisition made in July.

    Answer

    CFO Asaf Berenstin and CEO Guy Bernstein explained that the pipeline's growth is significantly driven by cloud and AI, with over 270 projects in progress that often follow a 'land and expand' model. CTO Yuval Lavi clarified that the company acquired Axiom, a small consultancy with approximately $2.5 million in turnover, to bolster its 'Faster AI' operations in the U.S., rather than it being a major strategic acquisition.

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    Maggie Nolan's questions to MAGIC SOFTWARE ENTERPRISES (MGIC) leadership • Q2 2025

    Question

    Maggie Nolan of William Blair & Company, L.L.C. asked for details on the company's sales pipeline, including the size and types of deals, and inquired about the strategic rationale and financial impact of the recent Axiom acquisition.

    Answer

    CFO Asaf Berenstin highlighted that the pipeline is strongly driven by cloud and AI projects, which have a high conversion rate and are expanding into new regions like Canada and the UK. CEO Guy Bernstein added that the company is pursuing a 'land and expand' strategy, particularly with GenAI projects. CTO Yuval Lavi clarified that the Axiom acquisition was a small, strategic move to bolster the 'Faster AI' operation in the U.S., involving a consultancy with approximately $2.5 million in annual turnover.

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    Maggie Nolan's questions to MAGIC SOFTWARE ENTERPRISES (MGIC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked for commentary on the sales pipeline's development, including the size and types of deals, and questioned the strategy behind a small acquisition made in July.

    Answer

    CFO Asaf Berenstin identified Cloud and AI as significant pipeline drivers, with hundreds of projects underway. CEO Guy Bernstein added that many opportunities follow a 'land and expand' model, particularly in Generative AI. Regarding the acquisition, CTO Yuval Lavi clarified it was Axiom, a small consultancy with ~$2.5M in turnover, acquired to enhance the company's Faster AI operations in the U.S.

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    Maggie Nolan's questions to MAGIC SOFTWARE ENTERPRISES (MGIC) leadership • Q2 2025

    Question

    Maggie Nolan of William Blair & Company, L.L.C. asked for more details on the company's sales pipeline development, including the size and types of deals, and questioned the strategy behind a small acquisition completed in July.

    Answer

    CFO Asaf Berenstin reported that the pipeline is being driven significantly by cloud and AI, with hundreds of projects in progress showing a high conversion rate. CEO Guy Bernstein added that the company is successfully executing a 'land and expand' strategy, particularly with generative AI. CTO Yuval Lavi clarified that the recent acquisition was of Axiom, a small consultancy firm with ~$2.5M in turnover, acquired to bolster the 'Faster AI' operation in the U.S.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership

    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C asked if client spending has reached an inflection point and questioned the expected growth trajectory for managed services as a percentage of revenue.

    Answer

    Founder, Chairman & CEO Kenneth Tuchman noted that while economic uncertainty causes clients to make smaller initial commitments, TTEC is winning new logos due to industry consolidation and its superior technology. He added that poorly executed AI by competitors is making clients cautious, reinforcing TTEC's approach. Tuchman also stated that a dramatically expanded partner network (AWS, Azure, Google) and a shift beyond CCaaS are creating significant new opportunities for higher-margin managed services.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked whether client spending has reached an inflection point for AI-enabled programs and questioned the expected growth and business impact of managed services revenue.

    Answer

    Kenneth Tuchman, Founder, Chairman & CEO, explained that while clients are cautious due to economic uncertainty, industry consolidation is creating new opportunities. He noted that new clients often start with smaller pilot programs that have significant expansion potential. Regarding managed services, he stated that TTEC's dramatically expanded partner network, including hyperscalers like AWS, Azure, and Google, is creating more opportunities for higher-margin managed services as clients seek broader CX transformation beyond traditional contact center solutions.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked whether clients are moving past the AI assessment phase and if an inflection point in spending has been reached. She also questioned the expected growth in managed services revenue and its business impact.

    Answer

    Kenneth Tuchman, Founder, Chairman & CEO, responded that while broad economic uncertainty causes some client caution, TTEC is winning new logos, often through smaller initial programs that expand over time. He noted that poorly executed AI by others is creating fear, driving clients to seek expert partners like TTEC. Regarding managed services, he explained that a dramatically expanded partner network, including hyperscalers like AWS, Azure, and Google, is creating significant new opportunities beyond traditional contact center services.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked whether client spending on CX programs has reached an inflection point and questioned the expected growth and business impact of managed services revenue over time.

    Answer

    Founder, Chairman & CEO Kenneth Tuchman responded that while clients are showing interest, economic uncertainty and fear of poorly executed AI are leading them to start with smaller, pilot programs. He noted that TTEC is winning new logos due to competitor consolidation and its technology credentials. Regarding managed services, he stated that a dramatically expanded partner network, including AWS, Azure, and Google, is creating significant new opportunities beyond traditional CCaaS, driving future growth.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked whether client spending has reached an inflection point or if a pause persists due to AI assessments, and also questioned the expected growth of managed services revenue and its business impact.

    Answer

    Kenneth Tuchman, Founder, Chairman & CEO, noted that while economic uncertainty causes caution, clients are still signing new deals, often starting with smaller pilot programs. He explained that TTEC's expanded partner network with hyperscalers like AWS, Azure, and Google is creating significant new opportunities for higher-margin managed services beyond traditional contact center solutions, driving future growth.

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    Maggie Nolan's questions to TTEC Holdings (TTEC) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company, L.L.C. asked whether client spending has reached an inflection point for new programs or if there is still a pause as they assess AI. She also inquired about the expected growth and business impact of managed services revenue over time.

    Answer

    Kenneth Tuchman, Founder, Chairman & CEO, noted that while general economic uncertainty causes some caution, TTEC is winning new logos, often starting with smaller pilot programs that expand. He explained that competitor consolidation and TTEC's superior technology credentials are creating opportunities. Mr. Tuchman also stated that the company's significantly expanded partner network with hyperscalers like AWS, Azure, and Google is driving more managed service opportunities beyond traditional contact center work, addressing broader client needs in their CX transformation.

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    Maggie Nolan's questions to Genpact (G) leadership

    Maggie Nolan's questions to Genpact (G) leadership • Q2 2025

    Question

    Maggie Nolan of William Blair & Company, L.L.C. asked about the potential convergence of IT services and BPO driven by AI, and about the company's ability to decouple revenue from headcount over the long term, including key investment areas for its workforce.

    Answer

    CEO Balkrishan Kalra responded that Genpact's strategy is to leverage its 'last mile' expertise in process and domain with technology, noting clients seek value and outcomes rather than traditional service labels. On decoupling revenue from headcount, he described it as a multiyear transition, emphasizing the strategic goal of transforming the workforce into 'AI builders' and 'AI practitioners,' supported by the company's strong learning culture.

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    Maggie Nolan's questions to EPLUS (PLUS) leadership

    Maggie Nolan's questions to EPLUS (PLUS) leadership • Q1 2026

    Question

    Maggie Nolan of William Blair & Company, L.L.C. asked for more detail on the drivers behind the increased adjusted EBITDA growth guidance and inquired if the resumed purchasing by large enterprise customers is a sustainable trend or merely project-based.

    Answer

    CEO and President Mark Marron attributed the stronger adjusted EBITDA outlook to a solid quarter with double-digit growth, an uptick in data center, cloud, and security demand, sequential growth in networking, and early AI-related wins. He also noted that operational expense management contributed. Regarding enterprise spending, Marron clarified that the recent activity was project-based with a few large customers and it is too early to call it a sustained trend for the year.

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    Maggie Nolan's questions to EPAM Systems (EPAM) leadership

    Maggie Nolan's questions to EPAM Systems (EPAM) leadership • Q2 2025

    Question

    Maggie Nolan from William Blair & Company inquired about how EPAM is measuring progress in upskilling its employee base for AI and the scale of this investment. She also asked about the company's goals for gross and operating margins by year-end and for 2026.

    Answer

    Balazs Fejes, President of Global Business & CRO, stated that over 80% of employees have completed an AI upskilling program launched in February 2024, with ongoing efforts to certify engineers and other staff. CFO Jason Peterson added that a key focus for margin improvement is utilization, aiming to exit the year around 77% or higher. He noted a focus on account margin and taking deals with appropriate profitability.

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