Share Name Share Symbol Market Type Share ISIN Share Description
First Derivatives 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
  +45.00p +1.71% 2,670.00p 2,637.00p 2,679.00p 2,700.00p 2,631.00p 2,652.00p 9,738 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 117.0 10.4 33.3 80.2 663.99

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Date Time Title Posts
26/4/201708:57First Derivatives - deriving growth and profits4,284.00
22/8/201021:25FDP - Moorsie Thread1.00
29/10/200912:16FDP - EXplosive stock8.00
08/1/200714:25First derivatives charts and news 20052.00
10/3/200623:29If its good enough for him...............1.00

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First Derivatives (FDP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-04-26 15:53:252,665.7634906.36O
2017-04-26 15:53:252,669.33601,601.60O
2017-04-26 15:39:192,687.003,892104,578.12O
2017-04-26 15:35:242,670.00852,269.50UT
2017-04-26 15:29:532,676.0010267.60AT
View all First Derivatives trades in real-time

First Derivatives (FDP) Top Chat Posts

DateSubject
26/4/2017
09:20
First Derivatives Daily Update: First Derivatives is listed in the Software & Computer Services sector of the London Stock Exchange with ticker FDP. The last closing price for First Derivatives was 2,625p.
First Derivatives has a 4 week average price of 2,625p and a 12 week average price of 2,225p.
The 1 year high share price is 2,765p while the 1 year low share price is currently 1,450p.
There are currently 24,868,379 shares in issue and the average daily traded volume is 15,001 shares. The market capitalisation of First Derivatives is £663,985,719.30.
22/3/2017
09:01
moorsie2: ok it has taken a week to get to 2750 and not the day I had predicted ;) MMs trying to shake out sellers but its not happening - stock is in demand and very few holders are giving it up. There is a lot of hope of the future being built into this share price now. Lets hope the results in May give very strong and clear guidance on that. Now expect it to be at 30 for results time...
14/3/2017
10:22
legg96: Surprised the share price movement has been so small. This really is significant news. If this share was on NASDAQ the P/E would be 200+.
08/11/2016
08:57
aishah: Entry into Retail Analytics market FD (AIM: FDP.L, ESM: FDP.I) announces its entry into the retail analytics market, using its Kx technology as a platform to develop solutions under a team of leading retail technology specialists recently recruited by the Group. The move opens up an addressable opportunity which, according to MarketsandMarkets, is expected to grow at 19% per annum to be valued at more than $5 billion per annum in 2020. The explosion of data volumes in the retail industry is driving demand for technologies that can provide real-time analysis, which Kx, with its pedigree in handling the most demanding data challenges in capital markets, is ideally placed to meet. FD has demonstrated the capabilities of Kx to a number of leading retailers across various market segments and as a result has identified an attractive range of solutions delivering high return on investment for prospective retail customers. These solutions include analytics combining streaming and historical data around point of sale, inventory control and planning, loss prevention and customer insights. Kx's ultra-high performance, enhanced by predictive analytics and machine learning capabilities, provides the ideal next generation platform for retail analytics. Http://uk.advfn.com/stock-market/london/first-derivatives-FDP/share-news/First-Derivatives-PLC-Entry-into-Retail-Analytics/72855087
23/10/2016
15:53
mach100: Moved above £20 bid once again so I expect some buying pre-results. A share split might be useful to improve liquidity now that these are moving up nicely. The share price moves energetically in both directions so there are trading opportunities but it is a well run company that is a niche player in important markets which makes it a solid hold for me.
24/6/2016
09:03
flybyknight: Share price not doing well on this news. I wonder how many of the contracts are paid in usd. Good time to buy?
26/4/2016
22:15
lovejoy4: Looking at this thread I'm less than impressed with members making bold predictions about the future direction of the share price without the slightest reference to underlying fundamentals, which drives the share price in the long run. Looking through the last annual report uncovers some less than pleasant results: They highlighted that revenue was up 19% but operating income only grew 2%, with administrative expenses up 26%. Operating margins are shrinking year after year and now stand at just 10.1% - only 188k of operating income was added last year. Net income was stated as £15,915m but £9.5m of this was a gain from an asset sale – though looking at footnote 3 this wasn’t even a cash realization, they just decided to revalue their stake in Kx so how this constitutes ‘income’ is baffling, particularly since it appears that most of that value is made up of intangibles. Adjusting the EPS downward for that ‘gain’ and it becomes roughly 30p per share, roughly what it was the previous year on a diluted basis. Shares trade at a multiple approaching 60x earnings which sees incredibly stretched. Company likes to use a non-GAAP measure like adjusted EBITDA but this ignores write-downs in intangibles and share based payments – the former is a legitimate concern since they’re taking on debt and issuing shares to purchase smaller technology companies at vast multiples and booking the assets as ‘goodwill̵7; etc. The economic value of goodwill is questionable particularly in the technology realm where change is rampant and things become obsolete very quickly. Company added nearly £100m in intangible assets last year to the point that net tangible assets are negative £36m. Going back to Kx, in footnote 3 they say that net profit would’ve been £17.1m had it occurred a year earlier, and so would’ve added £1.2m to the bottom line. Valuing a company that adds £1.2m per year at £80.1 seems a bit rich, particularly given that Kx seems to have exhausted its avenues within banking with regard to potential clients within banking and is now seeking clients in other sectors (little to no tangible news / contract win announcements on this topic all year BTW). On page 54 they state that the Prelytix acquisition (which cost roughly £6m) would have resulted in net income of £15,994 had it occurred a year previous – so in effect they paid £6m for a company that would’ve added £79 to the bottom line? Let’s hope the recent acquisitions are more valuable. It seems very strange that as a supposed growth company it pays a dividend year after year, £2.5m per year at this point – wouldn’t this cash be better spent on expansion? It could certainly be used in place of debts and share issuances – more share issuances mean more dividends must be paid – completely counter intuitive. Page 87 provides a potential answer – of the £2.5m total dividend pool the CEO received almost £1m – certainly more tax efficient than taking salary but puts his own interests above the shareholders in this case. On a final note, shareholders buying into the ‘big data’ story need to be realistic – this is essentially an IT consultancy company with a ‘big data’ wing – around 66% of revenue still comes directly from consulting, which tends to be negatively correlated with the financial industry at large, longer term any uptick in the financial sector will see banks hiring full time employees en masse one again, which doesn’t bode well for firms flaunting temporary contactors on expensive daily rates. Disclosure: No position.
09/6/2015
10:40
moorsie2: To be fair Mach100 at these price levels the dividend does not have a significant material affect on share price action. This is being driven by expectations and the very bullish language of the company in the last few weeks. Stuff like "all the heavy lifting is done" is relation to its transition to a new bigger organisation and integration of acquisitions is very significant. I for one will not be surprised to see a profits upgrade before or at the half year results and the analysts moving on the target to above £20 per share. I will be surprised and disappointed if we are not at circa £17-18 by year end...
08/6/2015
16:56
moorsie2: Uncrossed trade went through at £13.50 - this augers well for the rest of this week. Last few days of share price at £13 something this week.
02/6/2015
13:27
moorsie2: From III Big data software supplier First Derivatives (FDP) has been popular in City circles for years. Raising money to fund growth has never been a problem. It's been heavily backed by investors, too, and the share price shot up as much as 6% following better-than-expected full-year results. Management has also told analysts that this year's results will exceed current estimates. Pre-tax profit rocketed 120% to £17.5 million in the year ended 28 February on revenue up nearly a fifth to £83.2 million. Strip out one-off items – largely a £9.58 million gain following the revaluation of FD's original stake in Kx Systems - profit still jumped by 17% to £10.8 million. Work for the world's biggest banks meant FD's consulting business delivered a twelfth consecutive year of double-digit percentage growth - up 15% to £58.3 million. But the smaller software division, which excels at quickly analysing huge datasets for City traders, grew by 29% to £24.9 million. Nine of the top 10 investment banks use FD's flagship kdb+ and Delta products, mainly for market surveillance, trading, regulatory reporting, transaction cost analysis and algorithmic testing. Getting to this point has required some heavy investment. There has been a series of acquisitions, plus a stakebuild at Kx Systems Inc, funded by an oversubscribed placing in February and another in March. But it's been worth it. "We've now achieved our strategic position," finance director Graham Ferguson told Interactive Investor. "We've done the hard yards and are now delivering on investment over past five years." And management now expect current-year numbers to be "moderately ahead of current market forecasts". (click to enlarge) That's why Panmure Gordon rushed to upgrade forecasts. Analyst Adam Lawson now expects adjusted cash profit of £22.3 million in the year to February 2016 - it rose 24% to £15.5 million this time - and £25.5 million the year after. However, a slightly higher adjusted tax rate assumption numbs the impact on earnings slightly to 51.9p and 60.1p, respectively. FD shares currently trade on a lofty 25 times forward earnings, and there's stiff technical resistance at around 1,333p (see chart). However, earnings are growing fast and a bounce off support at the 200-day moving average looks convincing. Half-year results in early November are tipped to impress, too. Lawson still rates the shares a 'buy' with a 1,657p price target.
10/6/2014
18:40
blackbox1: Moorsie Point taken, but there is another way to look at this: I actually think this is a positive development. Ferguson held 350,000 options at various strike prices < £5. He also owned 117k shares outright (according to the last annual report). Anyone exercising options has to weigh up "value" when it comes to exercise time. Typically, you want to take advantage of a depressed price in order to minimise tax and NI payable at the time of exercise (as the paper gain between £10 and the exercise prices is taxed as income @ 45%). No one exercises any option, let alone all of them, if they think there is a material risk of the share price dropping to a lower point in the near future. Ferguson went all in. Why exercise now? Well, I would do it if I thought - on the balance of probability - that the shares were likely to run upwards at some point in the near future. Better to hold straight equity before a run up than an option - the tax on subsequent capital gains on shares is 28% as opposed to income tax @ 45% + NI if the option is exercised at a future higher share price. Call the difference 20% of the future gain. Finally, Ferguson also ponyed up over £1m to complete the option exercise. Feels to me like he was probably forced to sell 200k-odd shares to raise enough money (including payment of capital gains tax on his original holding) to fund the whole exercise. Perhaps he also took a few pounds out to pad the bank a bit, who could blame him? But he still has > 200,000 shares, so serious skin in the game. At the end of this exercise process he has actually doubled his holding in equity. Rather than looking at it as a net disposal by a director, I see a person who needed to find serious money in order to acquire a significant direct equity interest in the company at this point, and perhaps didn't have the funds available. He may have been a forced seller of some of his shares in order to raise funds, if you follow my logic. Not many people have a spare £1m lying around looking for a home. Next thing to chew over: why would a person who - presumably having intimate knowledge of the company's circumstances - move to take this position now? To me there is one simple answer: to position oneself to take advantage of a material uplift in future share price in a tax efficient manner. No CFO of a PLC is stupid. The timing of this exercise is not an accident or about year-end tax planning. I think something is coming up. I also see that Slater has increased his fund holding in FD. That guy isn't stupid, either. I think this whole FD rollercoaster is going to end with a trade sale at some point. It's the only way Conlon is realistically going to get his money out... I think the management team is simply getting their affairs in order. Just my thoughts.
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