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FDP Fd Technologies Public Limited Company

1,228.00
16.00 (1.32%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fd Technologies Public Limited Company LSE:FDP London Ordinary Share GB0031477770 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  16.00 1.32% 1,228.00 1,224.00 1,240.00 1,240.00 1,170.00 1,228.00 841,559 16:35:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cmp Processing,data Prep Svc 296.04M -4.01M -0.1429 -84.95 340.99M
Fd Technologies Public Limited Company is listed in the Cmp Processing,data Prep Svc sector of the London Stock Exchange with ticker FDP. The last closing price for Fd Technologies Public was 1,212p. Over the last year, Fd Technologies Public shares have traded in a share price range of 740.00p to 2,245.00p.

Fd Technologies Public currently has 28,088,156 shares in issue. The market capitalisation of Fd Technologies Public is £340.99 million. Fd Technologies Public has a price to earnings ratio (PE ratio) of -84.95.

Fd Technologies Public Share Discussion Threads

Showing 4151 to 4175 of 5475 messages
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DateSubjectAuthorDiscuss
22/4/2016
22:35
Lookking at today's trades Moorsie I reckon 1750p is too conservative! Of course they buying has to be sustained but it is clear to me that we can go through £17 and on to £18. If you look at the trades today most were at the top end of the ask. I think one of the few sellers got 1664p so I reckon the MM's are finding it haard to get shares for buyers. So £18 ask by Tuesday for me.
mach100
22/4/2016
14:57
Personally I would be surprised.

I would like to see 1750 as a consolidated price before results and then review again with the new information.

The rise to 1700 is not surprising considering the sale overhang has been cleared as per previous comments here. I think we have called this very accurately..

moorsie2
22/4/2016
12:39
£17 ask has arrived and more importantly someone has paid it at full ask. A key resistance point for us where surely the MM's will try and hold as best they can. Having hit £16 and £17 in such short order I wonder if we breach it can we head to £20?
mach100
19/4/2016
15:20
Not expecting anything exceptional on dividend hike - just in line with previous year increases

I am much more interested in future year guidances on PBT.

The fulltime IR advisor now needs to be earning his spurs and providing the clear narrative for Institutional and Private Investors alike

moorsie2
19/4/2016
14:53
Agreed Moorsie. Since 2.10pm the ask has gone from 1634 to 1624, 1625 1635 and 1634 before arriving at 1641 now. It shows me that we have further to go here even in the short-term. the results around 2nd June should give us a further lift. Do you think we will have a dividend hike? The divi is quite thin but of course the capital growth here is excellent.
mach100
19/4/2016
14:04
as expected - the overhang of April (with the beneficial changes in CGT from 5th april 2016) has been cleared and now this is revaluing

I expect 1750 in short time

moorsie2
19/4/2016
13:36
Multi year breakout and all-time high currently on the chart.
tromso1
19/4/2016
12:16
Very tight spread now and almost unbelievably the ask has stood on 1596. I really can't see thee MM's leaving this on such a tight spread and would expect to see £16 breached quite soon.
mach100
19/4/2016
10:28
Thanks both. Wishful thinking on my part really. Although I do think a bid of £20 for example would be too low ball as in time we will get there anyway,plus small divis along the way. Better to have one at £20 for £25 so more value is squeezed out for shareholders. I had planned to trade this having bought at £13 and £11,60 but given the acquisitions and trading update I am staying for the longer term.
mach100
19/4/2016
08:16
Highly unlikely they would let a bid go through. Conlon has built this up too much and stilll largely owned by the board and close links from what I gather.

Conlon seems to have big plans for this along with the wider board.

If it breaks 1600 I will get in

ulinbac
19/4/2016
06:21
Mach100 - this company has been immune to a bid because for too long it was seen as a one man play - i.e. Conlon. It was a huge risk to any acquirer as it was low on physical assets and highly dependant on one person.

Now the company has a much broader base of management and professionalism and therefore is more in play than ever in the past. Lets see , but I rate a hostile takeover at only 5% and a friendly takeover at only 40%. The real value here is unlocking new markets and continuing to give higher margin returns

moorsie2
18/4/2016
18:32
We we certainly have been a long time going between £15 and £16 Moorsie. £15.25 seems floor support while £15.96 has been a ceiling. We have been stuck on £15.96 while the bid has moved up. To date we haven't managed to break through this magic number. Once this goes we will easily move to £17 and possibly £18. We know the results are going to be good and the company have made very valuable acquisitions. I am hoping it gets to £20 before a bid is launched. I can't see a cash generative strong performing company like this being immune to a bid.
mach100
18/4/2016
15:59
for the record it was

376,000 shares at 1520 - 1525 price on circa 6th April
273,000 shares at 1586-1588.5 price today

i.e. 2.7% of the company

Great to see large disposals going on at higher prices

My guess is that this is O'Neill the former COO selling down his considerable holding for other ventures rather than an institutional holder reducing their position. Also it is not Conlon the CEO as it would be done with one institutional placing as in the past..

Here was a press release on July 2011


First Derivatives (AIM: FDP.L, IEX:GYQ.I), a leading provider of software and consulting services to industry global investment banks and hedge funds, has today been notified that Michael O'Neill, Non Executive Director of the Company, yesterday sold 100,000 shares in the Company at a price of 550 pence per share. The shares were placed by Charles Stanley Securities with institutional investors.
Following this transaction Mr. O'Neill holds 640,000 ordinary shares representing approximately 3.87 per cent. of the issued share capital of the Company.




If the seller is O'Neill and he had not disposed of any shares since 2011 then... it looks like the sales have included all his shares... ergo the overhang is cleared!

If so - then watch this lift off in the next week!

moorsie2
18/4/2016
11:28
There is a controlled seller holding this share price back -

The market is hungry for the shares though - so once cleared I expect a big jump. When it is cleared though I am not sure.


Any other views on this?

edit update - 273,500 shares sold today i.e. over 1% of the company and mopped up at this price

moorsie2
10/4/2016
19:21
An interesting review of FDP progress in the December edition of SCSW available as a free download from their website

In the world of business database systems, it is perhaps only once every two or three decades someone comes up with a better mousetrap. This is precisely what First Derivatives (FD) has in the form of its database technology known as Kdb+, a super fast “columnar database” capable of accessing billions of computer records at high speed. There are many drivers to the strong growth being enjoyed by FD. The biggest is the fact that Kdb+ is fast becoming the database tech of choice for hedge funds who are using complex mathematical algorithms to trade. Goldman Sachs, Deutche Bank, Merril Lynch and Morgan Stanley are all customers. They understand technology and they can afford the best .Until now FD has been using Kdb+ as a platform to build its own applications for algorithmic trading, complex event trading, forex trading and Big Data. But as we describe below, during the month it unveiled plans to start selling Kdb+ in new areas such as digital marketing ,telecoms and utilities - which balloons its addressable market to US$38bn.It’s early days but Investec forecasts £16m pretax profits and earnings of 49.5p for the year to end February, lifting to £18.1m and 54p next year. I expect the shares to continue to outperform driven by the strong growth of the business.

Capital market returning strong growth Why do the capital markets need fast databases you might be wondering? The Kdb+ website cites the many market drivers but basically there are three key ‘props.’

First, most stock market trading these days Is carried out by computer programmes run by the 11,000 hedge funds that exist. Such algorithmic trading or “black box” trading, which executes pre-programmed trading instructions at high speed, is the preferred method for many of them. At the same time, everyone is getting new ways to play and are using FX, CFDs and other derivatives alongside equities. In fact, the number of actual trades transacted by real humans tends to be a tiny fraction of a day’s total trading volume, which has led to exponential growth in trading volumes in the past decade. The old generation of “relational databases ”introduced in the 1970s just weren’t designed to cope with these volumes whereas Kdb+ enables computer records to be compressed and accessed at lightning fast speed. Just ask Kdb+’s built inlanguage,”Q” for instance, to add a column of numbers in a database and it returns the answer in a nanosecond time span.

Second, exchange regulators will soon be demanding that those who are using programme trading will need to test algorithms prior to going live on the exchange (a regulatory requirement that will come into effect in 2017). This quality assurance can be carried out using Kdb+.

Third, market surveillance teams are trying to get a handle on the transactions going through and they too are having to turn to Kdb+ to look for suspicious patterns. This is why in the latest first half of the year, FD signed a further 12 new deals for Kdb+ and it is now being used by more than 100 organisations. There is clearly still a massive opportunity in financial services, helped by the rising tide of regulations such as Markets in Financial Instruments Directive (MiFID), Regulation National Market System (RegNMS) and Volcker.

Body shop for the capital market sector
The Newry-based company was set up in 1996 by present chief executive Brian Conlon as a specialist supplier of IT professionals on development/ application management assignments to blue chip customers in the capital markets sector (banks, hedge funds, investment managers, brokers and so on) and this activity has been the bedrock of the group in recent years.
What distinguishes FD from other “body shopping” companies is that the consultants and programmers it hires out are not freelancers but are retained on its own payroll. Not only do they have knowledge of capital market operations but they have the technical experience of software products in use within those markets. FD can supply anything from a basic programmer to providing a complete team to take full project responsibility for software development or implementing a new system.Work tends to be on a “time and materials basis” and daily rates vary highly based on levels of seniority. Surprisingly, despite the headcount at the group going up probably six-fold to 1,500 in the last five years, there has been no let up in utilisation or in fee rates for these consultants and in fact as it has got bigger, FD has become a bit of a premium brand and is able to charge more and make better margins. In the latest first half results announced this month, Consulting once again delivered strong double-digit growth with sales up 28% to £35.5m.

Bought Kx majority in 2014
When you have been working with most of the global investment banks as customers, you attune to their needs. FD first spotted the potential for Kdb+ when it began working with a small and relatively obscure developer, Kx Systems in 1998, which had developed the technology. It subsequently became a reseller of Kdb+ in the UK and US and at the same time took a 20% stake. FD knocked on its door repeatedly for al most15 years to persuade the owners of Kx to sell their business. In 2014 that endeavour paid off when it was able to secure a further 46.5% stake from its founders for £36m (£23.9m cash plus 1.25m new shares at 968.6p), to lift its holding to 65.2% on a fully diluted basis. To be honest there weren’t too many places it could have gone as FD was already its biggest customer. There is an agreement to buy the remainder of Kx at the same price by 2020 and already it is looking like a brilliant deal for FD and its shareholders.

Software sales +87% in H1
Since consummating that deal, Kx has been fully consolidated in the accounts whereas previously it was being treated as associate income. All told, FD now gets software income from selling the Kdb+ cores to others who are using it to build their own software; implementation and bespoke development work as well as training users to use the system. At the latest half year stage, Software sales grew by 87% to £18.3m – on an annualised basis

johnroger
07/4/2016
15:33
If it breaks 1600 and stays above it tomorrow then it will quickly move past 1500-1700 range
moorsie2
07/4/2016
15:07
Mach100 - that would not surprise me at all

Once the seller is cleared then we revert back to the usual - not enough supply of shares to fill demand and this share recorrects

moorsie2
07/4/2016
14:36
I can get £15.782 on a dummy sell despite the fact that most trades today were clustered around £15.25. Indeed the bid had dropped as low as £15.01 by 10.30am. Is our large seller cleared and we are about to see an assault on 316 and onto £17.00? I think I have seen enough action here since the results to buy in if we hit £15.25 again as I have a feeling we are about to enter a new trading range.
mach100
06/4/2016
20:29
Not much damage done to the share price Moorsie but I expect we would have been £17 without this seller. We have to wait until he is cleared to get some traction. I am a buyer again at £13 should we hit it as I think we must be worth £20 when this starts to move up.
mach100
06/4/2016
13:59
And another 180k shares at 1520-1525

with 196k of shares on 4th April that is 1.6% of the share capital

For a company whose shares are not that liquid that is a big change so interesting to see how long this goes on for and whether it triggers an announcement

moorsie2
04/4/2016
12:48
Despite the good news it appears that there is a seller in the market (hence the disposal of 196k shares at 15.25 just now.

This would help explain the walking down of price over the last 3 months

Once this over hang clears then we can expect to see a big correction

moorsie2
04/4/2016
10:44
I think I can help here guys with the interpretation although I did confuse consolidation and dilution (thanks Moorsie!). If I am comfortably p1ssed it means I had about 5 extra cans. Materially p1ssed means I have had 10 extra cans and substantially p1ssed means 20 extra cans. I am Irish so I don't have states one and two really. That aside I think we should be looking at the 8 to 15% range myself.
mach100
04/4/2016
10:29
ok that is a fair interpretation -

But historically a 0-10% above consensus for this company has not triggered a positive trading update... so lets see

moorsie2
04/4/2016
10:25
I take comfortably ahead to be between 0-10% so let's say 5%Other words that are used and what I think they meanMaterially -10% or soSignificantly-over 10%So the company and advisers do use that phrase deliberately of course
nfs
04/4/2016
10:17
A 1 for 10 share diluting (not consolidating :) ) would be a very interesting option. This is something that regular fast growing companies do. For example look at the share history of Danaher Corp.

About 8 to 10 weeks to results so I expect things to move on significantly before then . Remember this company is financially very prudent around results so an update like this is very significant.


They could have said in line with consensus or "significantly ahead of consensus" but interestingly said "comfortably ahead of consensus. My interpretation of this would be sales greater than 10% of consensus and ebitda therefore being some 20-25% ahead of consensus.

moorsie2
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