||EPS - Basic
||Market Cap (m)
|Software & Computer Services
Real-Time news about Tikit Grp (London Stock Exchange): 0 recent articles
|beaufort1: Share price now ticking up again|
|orange1: House brokers Charles Stanley revealed this morning that they have retained a short term price target of 345 pence on Tikit but were calling the shares a buy previously a weak buy)as a result of increased visibility over its full year forecasts.
CS added that the relative weakness in Tikit's share price over the
past month is also a factor in its upgrade, adding that it sees potential for
significant upside over the next 12 months.|
|orange1: Looks as though there is no stock about. Back to the situation of two-three weeks ago where every buy pushed the share price.
And yet there were a number of sales in the recent market turmoil. So where did those shares go? Either they found a home without the transaction being reported as a trade or they were taken by the MMs to balance their books ie when they were selling stock 3-4 weeks ago they didn't actually have the stock.
Results on 22 March.|
|orange1: Another contract win for Tikit:
And this is how they go about it:
"Bircham Dyson Bell selected Metastorm BPM through the advice of Tikit, who provided consultancy in the evaluation phase of the project as well as providing ongoing support to the firm during development and implementation. Bircham Dyson Bell chose Metastorm for its BPM initiatives due to Tikit and Metastorm's established and proven success in the legal industry, the flexibility to integrate Metastorm BPM into its existing infrastructure, and the ability to provide all enterprise users with a single user interface for advanced collaboration."
Clearly Tikit has good products and an excellent relationship with its clients. It provides consultancy, recommends a product which it can supply and then supplies and installs it. Trust, efficiency, results.
And for the shareholders, it means a handsomely rising share price.|
|orange1: The share price is not asleep.
The following announcement was put out by Tikit at the beginning of December:
Tikit has teamed up with Corebridge and will offer converged telephony and IT systems so that law firms can be given a single view of all client contacts and related data to promote efficiency and complete transparency. "This will be one of the most exciting convergent technologies available to the legal sector in 2007" according to Tikit.|
|orange1: The share price has had a bit of a rocky ride of late but the company has announced that it has taken the opportunity to buy back some of its own shares for cancellation: 7,500 at 172 pence per share and 5,000 at 175 pence per share.
A sure sign that all is well in Tikit world. With the prospective PE for 2006, 11.29 and 9.72 for 2007 some might say that the shares are rather cheap.|
|diogenesj: Well, it has been doing well, E. The first half results looked disappointing, but they promised a stronger second half, and shortly afterwards the house broker Charles Stanley put out quite a bullish forecast: 11.2p eps, up +21.9%, for 2005 and 14.9p eps, up 33%, for 2006. At the current price (176p) that puts the shares on a forward PE for 2006 of 11.81x, which is cheap for a company growing at this rate.
The story of the imaginary takeover seems to have been perfectly well explained as a mistake by Capita, so I don't think that has anything to do with the share price weakness. I wish I knew what was causing it. I am still holding, but I am nervous. Normally when I see a share fall so badly out of its trend I sell first and ask questions afterwards. If you haven't bought yet, I think I would suggest waiting until it stablises before doing so.|
|tole: Well could be seen as an opportunity today - plenty of sellers though, however looking at the trades a couple lates reported could well be delayed buys from earlier (4 times 2.5ks and the 10k) So anyone dip in today then??
Still agree with the uncertainty surrounding the letter, but as stated in one article the Takeover Panel did not want any further info relaesed, so maybe teh cause why there wasnt any further comments....
'LETTER ERROR' HAS TIKIT IN THE TAKEOVER FRAME: Tikit, an AIM-listed software provider to law firms, is rushing to quell excitement among shareholders that it is on the receiving end of a takeover offer. Managing director David Lumsden blamed share registrar Capita for dispatching in error a letter to his shareholders that should have gone to investors in another company, "purporting to be a proposed takeover".
MY ATTENTION is directed towards the curious tale of Tikit, a blameless consultant many of whose shareholders received a letter from another quoted company saying the latter was preparing a takeover bid. These frauds are usually share price ramps, investors desperately trying to push up the price. Not this time; the letter was genuine but should have gone to a different quoted company. "It was just someone pushing the wrong button when they sent the printers the address list," says a Tikit man.
Hmm. Sounds doubtful to me. Whatever, the Takeover Panel intervened and insisted that neither the name of the sender nor its intended target should be published.|
|tole: oftm - no worries, am the same as unfortunately.
Not sure if you've seen the CharlesStanley Buy note from sept - but with a revised share price target of 253p they do look like a definate buy in my book for around 30% upside over the next 6-12 mths|
|stefield: from the share weekly,
Tikit Group, a company that makes software for law firms, blotted its copybook by issuing a profit warning in July 2002, a year after the previously highly successful business was floated on the stock market. The shares fell to around 80p against a flotation price of 115p. However, they are now firmly back above the issue price as the company demonstrates that the bad times in 2002 and the first half of 2003 were a blip and a strong new cycle of growth has begun.
EPIC Company Share Price Market Cap £m PER Dividend Yield% 12-Month hi-lo Company Report
TIK Tikit Group 143.50 17.73 1.05 47.83 111.50-145.50 --
The latest results paint a vivid picture of strong growth. Sales for the first half of 2004, jumped 52 per cent to £5.9m with pre-tax profits up 83 per cent and earnings per share before goodwill amortisation and share option charges up 93 per cent to 5.2p. Chairman and major shareholder, Michael McGoun, didn't want me to become too excited. He said the barnstorming first half growth reflected comparison with a depressed first half in 2003. Second half comparisons will still be good, with the second half the seasonally stronger period, but the increases will be less dramatic.
Another distorting influence, which made the first half leap especially spectacular, was a bunching of support and service charges. In 2003 the company made software sales on the basis that support would not be charged until the systems were fully up and running. This deferred some support charges from 2003 into 2004, which then further benefited as support fees for first half 2004 were levied on the normal timetable. The result was that services and support revenues grew by 65 per cent against a more normal figure of 10-15 per cent.
Business is clearly on a roll
Nevertheless it would be a mistake to be too cautious. Business is clearly on a roll. Software sales increased by 65 per cent to £1.77m and total services including consultancy rose by 39 per cent to £3.85. The group is bidding on some large contracts presently and already has the biggest backlog of business in its history.
Fiscal Year Proj Turnover £m Pretax Profit Change % EPS Change % DPS Change
2003 9.56 1.19 NA 6.71 NA 1.50 NA
2004 * 10.9 1.42 19.3% 7.90 17.7% 1.80 20%
2005 * 12.0 1.64 15.5% 9.10 15.2% 2.00 11.1%
EPS - Earnings per Share
DPS - Dividend per Share
The company's stock brokers have reacted by raising their calendar 2004 profit forecasts from £1.4m to £1.5m; that looks cautious to me but is understandable with four months of the year still to come. What looks likely is that profit forecasts for calendar 2005 around £1.64m are going to be well beaten. On that basis the prospective PE ratio for 2005 (one year out) could be significantly lower than the 15.8 implied by the forecast.
Longer-term growth prospects look excellent. Tikit provides software for larger law firms, the sort that make up the top 200 UK firms. The software and services the group provides help firms to deal with document storage and retrieval, time and expense record management and customer relationship management. Larger firms can afford to buy best of breed individual solutions and have firms like Tikit help with the integration. Smaller firms buy integrated packages,which do the whole job more cheaply but compromise on quality.
Historically many large law firms have had their own in-house solutions. As they battle to cut costs these functions are being outsourced creating a huge potential market for Tikit.
The group is also taking its offering into international markets. In Spain it began by hiring two employees then went on to buy the business they came from creating a Spanish version of Tikit based in Madrid. This business now has seven Spanish law firms as customers including the country's largest firm. It is also expanding in Ireland where one of the largest Dublin-based firms has recently been landed as a client.
McGoun believes that a new five-year cycle of demand growth has begun. He argues that there was a bunching of work in the run up to the millennium, which led to a collapse in workloads in 2002 and 2003. The demand blip is now passed enabling the group to resume the trend that it has maintained over a decade of strong growth. The shares jumped sharply when the figures came out but are still not too far above the 2001 issue price and should go a great deal higher|
Tikit share price data is direct from the London Stock Exchange