Computer consultant and systems integrator Sapient Corp shares fell in sympathy with those of its close competitor Cambridge Technology Partners Inc last week. Cambridge Technology Partners shares fell 22% after the company admitted that its revenue growth was slowing, and put the blame on concerns over the Year 2000 problem (CI No 3,491). The fall knocked over $440m off the value of the company. Cambridge, Massachusetts-based Sapient share fell 8% at the same time. But Sapient told Bloomberg last week that it hadn’t noticed any customers delaying projects because of Year 2000 concerns, and that business remained brisk. Sapient was also less affected by weakness in Asia and European markets, as most of its business is in the US.
