Adept Technology Share Discussion Threads

[crispfin] 14/1/2021 21:45

There only are c. 25m shares so that’s 4% of the total gone somewhere today. Hopefully it’s someone accumulating or some buy backs but who knows. Will need to keep an eye on the volume tomorrow.

[red ninja] 14/1/2021 19:05

Just over 1.1 million shares traded in last 3 trades today that explains the share price move today.

[red ninja] 11/1/2021 07:58

Positive news in NHS Network transformation:- " AdEPT's role AdEPT already provides HSCN connectivity across the UK, however the most concentrated success was a programme across the entire Kent NHS, in a contract valued in excess of £4m. This initiative provided connections to over 400 care homes, hospitals, and doctors' surgeries in a project that will be of huge benefit to clinicians and the public at large. Patrick Clark commended AdEPT. "On behalf of NHS Digital, I wish to express my sincere gratitude to you and your colleagues at AdEPT for your co-operation in driving HSCN migration activity. I have no doubt that without your organisation's hard work and commitment we would not have arrived at this point so soon." Future impact The credibility arising from delivering such a substantial programme positions AdEPT to secure further infrastructure projects across the UK; whilst the presence AdEPT now has facilitates conversations about additional services from the AdEPT portfolio across the NHS. " https://www.investegate.co.uk/adept-tech-group-plc--adt-/rns/adept-helps-nhs-deliver-technology-transformation/202101110700081495L/

[wanttowin] 06/1/2021 09:37

Yes thank you Crispin, knowledgeable and an input I know nothing about.

[red ninja] 05/1/2021 19:21

Thanks Crispfin, good to hear some input from someone who works in M & A.

[blusteradjuster] 05/1/2021 18:21

Ian Fishwick is not far off 60 years old. He'll want to retire (and cash-out?) eventually.

[wanttowin] 05/1/2021 15:10

Thanks RN ..interesting article and reading between the lines 'more patience required'.. so will sit on mine and try not to think about them too much ! Cheers

[red ninja] 05/1/2021 14:35

Judith Mackenzie still backing Adept Tech. Vox Markets - 18/12/20: Judith MacKenzie of Downing LLP discusses her portfolio and predictions for 2021 Https://www.voxmarkets.co.uk/articles/judith-mackenzie-of-downing-llp-discusses-her-portfolio-and-predictions-for-2021-daf2c6a/

[wanttowin] 05/1/2021 14:19

God this has been a long painful hold, torn as whether to sell out now, and recover loss elsewhere...or continue suffering, at times I wonder if it is actually trading !

[energeticbacker] 17/11/2020 16:53

Investor's champion comments on underwhelming results - it is hard to gauge how they have benefited from all the public sector work.

[leading] 17/11/2020 12:39

This lot always talk a good game, but the numbers aren't so flash. Big of the Board to voluntarily pass on bonuses. Given that they are loss making, I don't suppose many bonuses would have been earned anyway. Dividends , of course are the first thing to be chopped. Huge intangible assets FWIW. Come back when you have completed the internal platform transformation, fully integrated past acquisitions, halved your net debt and reinstated dividends and I'll have another look. Share price reaction today of down 10% seems justified to me.

[par555] 17/11/2020 11:26

RN, Agree your comments on results. Unprecedented pressures well managed by a management team that have never disappointed in the past.

[red ninja] 17/11/2020 11:21

Mmm I thought the results were pretty reasonable given the Covid-19 crisis and at 216p a share they are not expensive. The company should also come out of this crisis in better shape given its investment in Project Fusion and AdEPT Nebula platform. However, maybe I should have waited for the stock to finish falling before buying.

[blusteradjuster] 17/11/2020 10:01

Yes, the business model remains sound and they'll emerge from the pandemic with substantially lower net debt. However, no dividend, no firm outlook and falling top and bottom lines make it one to leave alone. Worth revisiting in the Spring once the vaccination-drive is in full-swing and things should be back to pretty much normal.

[wanttowin] 17/11/2020 09:00

Sold half of mine this morning..just can't see this rising for sometime and no divi does not help to tempt buyers..Will try to recoup loss, better options elsewhere imo..

[red ninja] 16/11/2020 13:57

Comment from Downing Strategic Micro IT interims (out early November) :- AdEPT Technology Group PLC (AdEPT) (7.23% of net assets) Cost: £3.59m. Value as at 31 August 2020, £2.65m Adept Technologies is an independent provider of unified communications and managed services for the communications and IT sector. Update to the investment case Positive trading update and FY results for year ended 31 March 2020 Revenue increased by 20% to £61.7m Managed services revenue increased 30% year on year Managed services accounted for 81% of total revenue and EBITDA Acquisition integration “Project Fusion” nearing completion Net indebtedness Progress against investment case AdEPT provided an encouraging COVID‐19 trading update and positive FY results to 31 March 2020. Since the beginning of the pandemic, sales volumes have fallen significantly less than management’s predictions, partly attributed to the group’s beneficial public/ private split. While installations were lower, the group was heavily involved in the education sector where it worked on cloud migrations, helped by the Department for Education’s provision of additional funding to assist schools in moving to the cloud to support remote working. Debtors and cash generation was strong through the period, with debtor days falling from 48 to 42 days, and the group repaid an £8 million term loan which it drew down at the beginning of the crisis for liquidity purposes. Full year results were equally reassuring, with revenue up by 20%, EBITDA up by 9%, and margin increased to 19%, while cash conversion was much improved to 82%. Recurring revenues at 75% were also stable. AdEPT continues to be lowly rated given the quality of the underlying model which combines moderate growth with revenue visibility, high margins, and low capital intensity. We suspect that the biggest turn off for the market is its debt levels, and we are engaging regularly with management over the correct handling of this since it can provide a significant barrier for potential investors who are even more wary of indebtedness in the current climate. The appointment of N+1 Singer as new broker may begin to generate new interest in the shares which offer great value at the current price.

[red ninja] 16/11/2020 13:35

Interim results out tomorrow, they say they have been weathering the storm.

[davidosh] 09/11/2020 00:51

Just to mention that Judith Mackenzie of Downing who are one of the key shareholders in Adept will be interviewed by me on MelloMonday tonight. She will also be one of the panelists on the BASH session. The Mello Monday event starts at 6pm The full programme is available on the website. In the MelloBASH... The analysts, fund manager and well known investors on the panel will give their honest verdicts on whether four/five companies are a Buy Avoid Sell or Hold at this current juncture in the markets. Https://melloevents.com All investors welcome and if you use the code MMV5 you will get a half price ticket. Great investor content and entertainment. We had nearly 400 investors attend last month so these are very popular.

[wanttowin] 30/9/2020 10:33

Certainly reassuring , very positive for the long term. I suspect this will drift for a while and agree no reason to add, or take a position.

[blusteradjuster] 30/9/2020 09:04

Reassuring update. Looks like cashflow will be directed at debt-reduction for the foreseeable. Might get back in on results day although it might not take-off until the resumption of dividends (or rather the intention to pay one next time) so perhaps no rush.

[wanttowin] 10/9/2020 19:29

This has to be the most boring stock in my portfolio, will we ever see any action?

[red ninja] 02/9/2020 10:28

Comment from Downing Strategic Micro Cap IT Aug 2020 Investor Letter :- hxxps://assets-us-01.kc-usercontent.com/8c961317-6aee-00a7-e4b6-ae38cd847d2d/0a0a04a3-83fa-4caf-ae13-d1644d72e7cc/PE3041_Downing%20Strategic%20Micro-Cap%20Investment%20Trust_Investor%20.pdf ADEPT TECHNOLOGY PLC – provided a reassuring COVID‐19 trading update which highlighted that sales order intake had fallen significantly less than management’s assumptions,partly attributed to the beneficial public/ private split which AdEPT maintains. While installations were lower, particularly in on‐site project work, AdEPT was kept busy in the education sector where it worked on cloud migrations, helped by the Department for Education’s provision of additional funding to assist schools in moving to the cloud to support remote working. Finally, debtors and cash generation was strong through the period, with debtor days actually falling from 48 to 42 days, and the business was able to repay an £8 million term loan which it drew down at the beginning of the corona‐crisis for liquidity purposes. AdEPT's results for the year to 31 March 2020 were equally reassuring. Revenue increased by 20%, EBITDA increased by 9% and margin increased to 19%, and cash conversion was much improved to 82%. Recurring revenues at 75% were also stable. AdEPT continues to be lowly rated, in our view, given the quality of the underlying model which combines moderate growth with revenue visibility, high margins, and low capital intensity. We suspect that the biggest turn off for the market is the level of debt in the business, and we are engaging regularly with management over the correct handling of this. While the overall quantum and ability to pay isn’t concerning to us, optically it can provide a significant hurdle for potential investors who are even more wary of indebtedness in the current climate. We hope that the appointment of a new broker can begin to generate new interest in the shares which offer great value at the current price