Aveva Share Discussion Threads

[broadwood] 10/1/2014 09:27

Couldn't quite see why it fell so much - Co was very positive.

Hopefully, we've bottomed.

[broadwood] 08/1/2014 17:10

Engineering software firm AVEVA saw its share price jump on Wednesday after an upgrade from 'neutral' to 'buy' by UBS, which said that the stock now looks "attractive" after a period of underperformance.

AVEVA, which operates in the plant and marine industries, saw its share price sink sharply in November 2013 after it said first-half growth in the Enterprise Solutions business had been slower than expected due to issues with two clients.

To make matters worse, there were a number of profit warnings across the oil services sector which dampened sentiment.

Nevertheless, UBS said it was "impressed with the performance in the core Engineering & Design business in H1 14, which delivered over 10% like-for-like growth, despite a continued weak performance in Brazil.

"We are not betting on a major recovery in Brazil and there is no doubt that the capex outlook in the Oil & Gas sector is more challenging now, but the proportion of spend that goes on software in the industry is still low, project lifecycles are long and AVEVA's own E3D product cycle looks promising."

The bank said its valuation has long been its major reservation in relation to AVEVA, but the stock looks like better value now. What's more, the company is also on the bank's "M&A WatchList".

UBS said: "Aveva's high recurring sales bias means a 2015E valuation multiple warranted. We acknowledge a slightly higher risk to growth in Oil & Gas, although Marine could also potentially start to improve over the next 12-18 months conversely. Our price target is now 2,550p, up from 2,300p previously [...] but now based on 2015 rather than 2014 estimates."

AVEVA was trading 6.31% higher at 2,258p by the close of trade.

[butchcasio] 08/1/2014 15:38

i sold out yesterday, thats why its risen....


Was expecting this pop, but felt it should've happened by yesterday..

Damn.

Looks good for a further move now too.

[broadwood] 08/1/2014 12:10

Posted on wrong thread.



Must be a Broker rec. Not before time.



broadwood
8 Jan'14 - 09:14 - 4 of 5 0 0 edit


A day in the sun. Not been many lately.



broadwood
8 Jan'14 - 11:37 - 5 of 5 0 0 edit


10.25 Back in the stock market, an upgrade to "buy" at UBS has lifted engineering software group Aveva 6.7pc, the biggest riser in the FTSE 250 index. Analysts at the broker said:

Quote Aveva's shares struggled in Q4 13, underperforming as disappointment around the collapse of an anticipated enterprise deal in Enterprise Solutions weighed and then as profit warnings across a range of oil services companies rippled out. We were nonetheless impressed with the performance in the core Engineering & Design business in H1 14, which delivered over 10pc like for like growth, despite a continued weak performance in Brazil.

[sharw] 08/1/2014 12:04

Four weeks later and you have your rise - up 10% this morning. I can't remember this one moving so much on no news. Perhaps it is a delayed reaction to UBS selecting it as one of its bid tips for 2014.

See www.pstransactions.co.uk/pensionswire/Lists/Posts/Post.aspx?ID=216

[broadwood] 08/1/2014 11:37

10.25 Back in the stock market, an upgrade to "buy" at UBS has lifted engineering software group Aveva 6.7pc, the biggest riser in the FTSE 250 index. Analysts at the broker said:

Quote Aveva's shares struggled in Q4 13, underperforming as disappointment around the collapse of an anticipated enterprise deal in Enterprise Solutions weighed and then as profit warnings across a range of oil services companies rippled out. We were nonetheless impressed with the performance in the core Engineering & Design business in H1 14, which delivered over 10pc like for like growth, despite a continued weak performance in Brazil.

[broadwood] 08/1/2014 09:14

A day in the sun. Not been many lately.

[broadwood] 08/1/2014 08:47

Must be a Broker rec. Not before time.

[vision88] 01/1/2014 08:27

yes the long term will say it all, one worth a punt at these levels ,before the retracement kicks in

[geoff21] 11/12/2013 17:57

Must be due a rise soon?

[broadwood] 02/12/2013 07:21

Reiterates
Buy Buy 0 60.00 60.00 33.38 0 2
Numis AVEVA Group PLC 02/12/2013
Upgrades
Add Buy 1 2,980.00 2,980.00 2,233.00 0 2

[bones] 18/11/2013 10:08

Broadwood, as I mentioned pre-market, the statement had a couple of weak spots in it and the dreaded "broadly in line with board expectations" which means "may fall short" in my book. I am not surprised by the drop given the rating that AVV commands right now.

[tday] 18/11/2013 09:56

smythy4 obviously believes we are as stupid as him if, he honestly thinks most investors would swap shares in companies like Aveva for FML. Filtered here and on about 30 other BB's. Prat.

[broadwood] 18/11/2013 08:44

Seriously disappointed with that reaction.

[bones] 18/11/2013 07:39

One or two mentions of weakness dotted about the commentary in there so, given the huge PER, I would expect a drop off in price early on.

[broadwood] 18/11/2013 07:09

Results look strong at first glance.

[broadwood] 09/8/2013 08:10

Fat special divi payout today.

[broadwood] 05/8/2013 08:08

Special divi on Friday.

Black Rock hold this in there Smaller Companies portfolio.

[sharw] 10/7/2013 16:58

The calculation should be done x 15/16 first, so although I would like the credit for saving pame 100 a large sum, the most your broker can pocket is 15/16ths of the current share price. So you are right in saying 19 shares and lose 11/16ths.

Again yes, you need to take broking charges into account. A friend sold a single share and thus saved the value of 15/16ths of a share because he had one free deal in hand for the quarter which he would not otherwise have used. I have one account where I will lose 6/16ths (£9.56 at the current price) and it is not worth incurring the dealing charge to correct. In another a/c I had some spare cash so topped up to a multiple of 16 because I think AVV has an excellent product which will continue to increase profits and was happy to increase my holding.

[3offthet] 10/7/2013 15:32

sharw

Thanks for making us all aware of this issue, but I could do with a bit more help please.

Has pame done the right calculation in post 507?. I can't believe that brokers are allow to rob us of more than £100 like this. Do they do the calculation on an absolutely individual account basis (as pame has assumed) or do they do it across their whole client base? If the latter, the calculation in pame's case would be 21*15/16 = 19.6875. This would then be rounded down so pame would get 19 shares and the broker would steal the 0.6875 which is worth about £17. In pame's case this probably still exceeds the dealing charges, so he has still done the right thing.

However I have 250 shares. By my calculation, I would end up with 250*15/16 = 234.375. I would get 234 shares, and the broker would steal 0.375 of a share, which is worth less than £10, so I would not bother doing anything.

However, if I do the calculation as pame has done, my 250 old shares would be rounded down to 240, and I would get 225 new shares. The difference between these two calcs is 9 shares - worth about £220. I just cannot believe that the brokers would be allowed to do this to each and every shareholder!

Your advice much appreciated plse

Rgds
3OTT

[pame100] 10/7/2013 14:59

sharw

thanks for the heads up on the consolidation. I emailed Idealing to ask if it was true that they would keep the fraction that didn't divide by 16 and its true, they would. as I only have 21 shares I have had to sell 5 today, otherwise they would have been £115 richer and I would be £115 poorer.
so thanks again.

[broadwood] 09/7/2013 18:59

Special Dividend
It is proposed that the amount of the Special Dividend is 147.0 pence per existing ordinary share. The Board is proposing to pay the Special Dividend to Shareholders who are on the Register at 6.00 p.m. on 12 July 2013. The Special Dividend is expected to be paid to Shareholders on 9 August 2013.
Share Consolidation
It is proposed that the payment of the Special Dividend be accompanied by a consolidation of the Company's ordinary share capital. The Share Consolidation will replace every 16 existing ordinary shares with 15 new ordinary shares. Upon the Share Consolidation becoming effective, the nominal value of the existing ordinary shares will change from 3(1) /(3) pence to 3(5) /(9) pence per new ordinary share. Fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market as soon as practicable after the Share Consolidation on behalf of the relevant Shareholders. The net proceeds of the sale, after the deduction of the expenses of the sale, are expected to be paid in due proportion to the relevant Shareholders on 22 July 2013, except that individual accounts of GBP3 or less will be retained by the Company.
As at the close of business on 3 June 2013 (being the latest practicable date prior to the publication of the Notice of Annual General Meeting) when there were 68,079,078 existing ordinary shares in issue, the total amount of the Special Dividend was equivalent to approximately 6.1 per cent of the market capitalisation of the Company. The effect of the Share Consolidation will be to reduce the number of existing ordinary shares in issue by approximately the same percentage.
As all ordinary shares will be consolidated, each Shareholder's shareholding as a proportion of the total number of issued ordinary shares in the share capital of the Company will be the same immediately before and after the implementation of the Share Consolidation (save in respect of fractional entitlements).
The expected timetable for the Final Dividend, Annual General Meeting, the Special Dividend and Share Consolidation are set out below:

Expected Timetable 2013
Existing Ordinary shares marked Wednesday, 19
ex-entitlement to the Final June
Dividend of 19.5p per existing
Ordinary share
Record date for entitlement Friday, 21 June
to the Final Dividend
Latest time and date for receipt 9.30 a.m. on Friday,
of Forms of Proxy from shareholders 5 July
Annual General Meeting 9.30 a.m. on Tuesday,
9 July
Record date for entitlement 6.00 p.m. on Friday,
to the Special Dividend of 12 July
147p per existing Ordinary
share and the share consolidation
Existing Ordinary shares marked Monday, 15 July
ex-entitlement to the Special
Dividend
Effective time and date of 8.00 a.m. on Monday,
the share consolidation and 15 July
the date CREST accounts credited
with new Ordinary shares
Commencement of dealings in 8.00 a.m. on Monday,
new Ordinary shares 15 July
Payment (where applicable) Monday, 22 July
of fractional entitlements
by cheque or CREST
Despatch (where applicable) Monday, 22 July
of certificates for new Ordinary
shares
Payment of Final Dividend Friday, 26 July
by cheque or BACS
Payment of Special Dividend Friday, 9 August
by cheque or BACS

[sharw] 09/7/2013 18:29

300 x 15/16 = 281.25

You would receive 281 shares. If in your own name the 1/4 would be aggregated and sold in the market and you would receive the money. If in a nominee they will probably pocket it.

On August 9th you would receive the return of capital - 300 x 147p = £441

If you have not yet bought the way to get round the fractions is to buy a multiple of 16 (say 288 or 304 shares).

For this reason I topped up my holdings a couple of weeks ago and am now feeling rather smug that I did this at £22.21 and £22.64!