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Share Name Share Symbol Market Type Share ISIN Share Description
Capita Plc LSE:CPI London Ordinary Share GB00B23K0M20 ORD 2.066666P
  Price Change % Change Share Price Shares Traded Last Trade
  -3.10p -2.80% 107.50p 5,685,567 16:35:28
Bid Price Offer Price High Price Low Price Open Price
106.90p 107.00p 109.85p 106.60p 109.35p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 3,918.40 272.60 18.37 5.9 1,793.5

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Capita (CPI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:42:44107.5298,369105,770.28O
16:36:19108.4852,80457,279.14O
16:21:03107.48905972.67O
16:17:57107.414,0964,399.43O
16:14:36107.2810,05610,788.18O
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Capita (CPI) Top Chat Posts

DateSubject
22/5/2019
09:20
Capita Daily Update: Capita Plc is listed in the Support Services sector of the London Stock Exchange with ticker CPI. The last closing price for Capita was 110.60p.
Capita Plc has a 4 week average price of 106.60p and a 12 week average price of 106.60p.
The 1 year high share price is 173.85p while the 1 year low share price is currently 100.70p.
There are currently 1,668,415,192 shares in issue and the average daily traded volume is 3,022,549 shares. The market capitalisation of Capita Plc is £1,793,546,331.40.
04/1/2019
00:00
mj19: Today - Deutsche Bank Cuts Capita (CPI) Price Target to GBX 130
24/12/2018
10:16
kingston78: Get out of Capita quickly whilst its share price is still above £1. I have been bearish of this stock for a long time. There is only so much the new management can do. Soon the share price will go below £1, and as soon as it breaks the £1 psychological barrier it will crash very quickly. A certain star fund manager is past his sell-by date. Anything that he has invested in has gone belly up.
28/11/2018
11:12
daffyjones: CAPITA - A BAGHOLDER'S TALE BY NEIL WOODFORD. June 2014 - CPI share price 1137 – CPI makes the top ten in the launch portfolio of Woodford's flagship fund. Feb 2016 – share price 1030 - "Capita weakened sharply after issuing its full year results. The company continues to show strong organic growth, and both earnings and dividend growth remain at attractive levels. Investors appear to have focused on the company’s net debt, however, which came in slightly higher than expected and some analysts now fear that a rights issue may be required to delever the balance sheet. We think that this is unlikely and are much less concerned about the strength of Capita’s balance sheet. We believe it remains well-placed to deliver very attractive rates of growth.” Sep 2016 – 670 – “The largest detractor from performance was Capita, which issued a profit warning towards the end of the month. We have always accepted that there was some cyclicality within Capita’s business but a number of other issues have arisen, some of which are one-off in nature. As you would expect, we have met the management and are reassured that the company is already doing some of the things it needs to do in order to restore the business to a healthier growth trajectory. Although the market is clearly worried about the sustainability of Capita’s dividend and the prospect of a dilutive rights issue, we are confident that the dividend is safe and that an equity issue will not be required. The market’s reaction looks disproportionate. We added slightly to the holding towards the end of the month at a very depressed share price level." Dec 2016 - 535 – “We believe the market has over-reacted to the series of profit warnings. In our view, the share price now profoundly undervalues the fundamental long-term attractions of this business. At times like this, it is essential that one does not compound the impact of a fundamental disappointment through an emotional reaction to a share price fall." Jan 2017 – 509 – “it is critical that we do not compound that mistake through an emotional reaction to the disappointment of the share price fall. Our view is that the market has over-reacted to this series of negative trading updates. In turn, this has driven Capita’s share price way below the intrinsic value of the business. We have, therefore, retained conviction in the long-term investment case and took advantage of the depressed share price to add to the fund’s position in the company.” Feb 2017 – 416 – “We have said before that we were disappointed by events at Capita last year, which combined to undermine market confidence in the business and the credibility of management forecasts. We have spoken to management several times as these issues have unfolded, including a recent conversation with the new chairman who appears keen to ensure that the business takes appropriate steps to move on from last year’s challenges. In our view, Capita’s share price continues to profoundly undervalue the fundamental long-term attractions of the business. It will take time to rebuild credibility and value at the company but we believe the management changes announced earlier this month will mark an important step on that journey.” Dec 2017 – 392 – “Capita performed poorly, following the release of its interim results. Although the results were broadly in line with expectations, there were a number of complicating one-off elements and a mixed outlook statement. The shares declined by 12% on the day of the results which looks very harsh to us in the context of Capita’s already low valuation. The shares yield over 7% here which suggests that some investors fear a dividend cut may be required. Clearly that eventuality cannot be completely ruled out, but having met Jon Lewis during the month, we are reassured that decisions around capital structure and the dividend will be informed by a clearer long-term strategy for the business. In the meantime, we have maintained the portfolio’s exposure to this business, seeing the potential for significant value creation in the future as Capita is restored to the high quality, successful and well-run business that it used to be.” Jan 2018 – 182 – “Since the profit warning on Wednesday, Capita’s share price has broadly halved, which has clearly been unhelpful to recent performance. I am pleased that we have seen from the company what we thought would be coming. This is a complete reset for Capita. The new chief executive, Jonathan Lewis, has mapped out a clear new direction of travel for the business and it is one with which I completely agree. This reset has been met with a massive fall in the share price from an already very depressed level. In the current market conditions, perhaps we should not have expected anything else. After all, Capita represents many of the things that this market loathes at the moment – it is exposed to the UK economy. This is the reality of what we have been writing about for some time now. Markets are being driven by momentum. Valuation is irrelevant – it simply does not matter in the stock market at the moment. This has been a poor investment, but it is one that has the capacity to become a significantly better one from here. I would go as far as to say that the business will be in better shape at the end of 2018 than it was in 2016. It will have infinitely better leadership, a stronger balance sheet, better cash flow, more conservative accounting policies and a lower pension deficit. The mistake I have made, albeit I didn’t know it at the time, was in owning Capita in 2016. It is not a mistake to own it now. And so, I will not be compounding the previous error by behaving in an irrational and valuation insensitive way now. I would be doing you, my investors, a massive injustice if I was to abandon the investment discipline that has guided me for 30 years in this industry.” Nov 2018 – 107 – Woody finally sells out completely, with the shares down 90% from the launch of his fund.
22/11/2018
08:45
fenners66: In the 1980's there was a simple BBC computer game called Stockmar. It was addictive for a group of half drunk mates to buy and sell 4 shares until one reached billionaire status and won. Crux was if you bought shares they were likely to go up and if you sold they usually went down. You could either buy or sell one share on your go. Guess Woodford never played it . Maybe he could have learned that by adding large stakes - yes the share price would rise - but then he could not exit without the share price falling again. Which is where he was at - not wanting to bite the bullet because he would make it worse.
12/8/2018
13:18
vulcan2: ANOTHER UPGRADE FOR CAPITA - New Target price 210p. 10 Aug 2018 RBC repeated an ‘outperform217; rating on Capita and raised its target price to 210p from 200p Capita RBC thinks Capita's turnaround plan is on track Capita PLC (LON:CPI) shares have fallen 21% since the outsourcer cut its full-year profit guidance but RBC Capital Markets sees this as a buying opportunity. RBC repeated an ‘outperform217; rating on Capita and raised its target price to 210p from 200p, saying it thinks the drop in the share price is a surprise. Earlier this month, Capita said it expects full-year underlying profits to be between £250mln-£;275mln, compared to the £270mln-£;300mln it estimated earlier this year, after first-half profits fell 59% to £80.5mln and organic revenue dropped 2.4%. READ: Capita lowers profit guidance and warns turnaround plan will take time However, chief executive Jonathan Lewis said he was making good progress on his turnaround strategy and repeated his guidance for a return to growth in 2020. “With near-term guidance reiterated, 2020 targets unaltered and financial deleveraging ahead of plan, we are reassured,” RBC said. “This story is about cost savings and self-help (not organic growth) at present and on this basis, the group is on track.” 'Capita still thinking about new growth opportunities' RBC said while the focus remains on Capita’s restructuring, it is encouraging to see developments like the company’s partnership with Microsoft to create a workspace application. The broker said this indicates that management is still thinking about new growth opportunities. “This turnaround (for at least the next 18 months) is about what management can influence and not what the market does,” it added. RBC expects a re-rating, to be driven by the delivery of cost savings, contract rehabilitation and cutting the interest cost, rather than organic growth. Organic growth will remain difficult, RBC said, as it struggles with contract attrition and a benign UK market. 'Market caution looks overdone' However, the broker thinks the turnaround looks “very within its compass and on this basis, market caution looks overdone to us”. “We are not arguing that Capita has a superior business model. Indeed, with £500mln of investment needed over the next three years, there is evidently much to do,” RBC said. “Concerns on its ability to win work and retain work will also persist. However, recent wins imply the group is not out in the 'wilderness' in the UK and we continue to believe that cost savings have been conservatively guided.” RBC upgraded its earnings per share estimate for fiscal year 2018 by 4.5% to 11.60p. For 2019, it raised its EPS forecast by 8.5% to 13.60p.
25/4/2018
14:16
kingston78: The financial position has not changed in the sense that it was public knowledge that there would be huge write offs and there would be a rights issue. The share price was falling gradually from 200 p down to almost 120 p, and yet the recent rise is very rapid. This price action tells me two possibilities: one that the short positions have been closed and new or big existing holders adding a lot more shares to their holdings. I will not be surprised that there will soon be announcement on this front of exceeding 3%. I don't think the rise is sustainable. Income Funds do not benefit. In fact they would have to sell their shares, as there will be no dividend for a few years. Capital growth? Hardly likely in the business front in the foreseeable future. Whilst Tesco is in a totally business its share price has not gone anywhere in the last few years since new management moved in after the financial scandal. It might be possible that as and when Capita becomes a lean and mean machine with a more focussed and sustainable business in five years time someone might bid for it.
16/3/2018
12:53
kingston78: In terms of share price movement and charting, my interpretation of Capita's share price is in a 20 p range, down from 200 - 180 and then 180 -160. It has recently broken through 170 but has since died down. This means that the 160-180 range will be broken because there is insufficient support. Some traders may make money very short-term and then move on. This morning the share has touched 156 twice, and it would appear to me that in the immediate short term 156 is sustainable. However, I think the share price has dropped a range to 160-140. As we approach towards end of March I suspect that there will be nervous sellers driving it down towards the 120-100 level, at which I think the rights issue will be priced. I did advise holders to sell their shares all the way from the 200 p level. I think this is probably your last chance to sell at 156 -158. The share price will not recover to this level for a few more years.
28/2/2018
22:52
kingston78: Some people are so used to success that they become delusional and live in denial when they have made a mistake that they would not admit it. This includes star traders and fund managers. There is a timeless investment rule that you average up but not average down. Some people have broken this rule. This is akin to gambling "double or quit". The general trading environment is harsh, with so many companies going bust. Costs are rising and profit margins become thinner. A financially sound company will be able to weather the storm. That is why personally I am against share buybacks (normally taking place when the share price is at its peak and when the company is flush with cash). Management should not be fixated with ratios such as Earnings Per Share. The spare cash is there for a rainy day. This avoids the company going to tap shareholders for more capital with a rights issue at a lower share price, effectively diluting the shareholdings [buy high sell low; that is a loss making transaction for the company] There is a box system in share trading terms when there is a clear pattern of trading ranges. The high for Capita was recently 200 p and the low 180 p. It sometimes breaks upwards through 180 but dwindles down to around 175. I interpret that 180 now has become a resistance level and there is no bottom really, as it is in uncharted territory. As regards the rights issue price I think it will be pitched at 100 to 120 p to tempt subscribers.
26/2/2018
15:04
kingston78: The auditors are probably auditing the financial statements for the year ended 31/12/2017. In parallel, they would be working on the rights issue. It will take more time to audit and sign off the annual accounts this year, so I assume that the rights issue document will either be signed off at the same time as the audited accounts or be produced separately and accompanied by unaudited figures. I expect the rights issue document be circulated in late March to mid April from my experience. On a separate note, the balance sheet has deteriorated over the years. As at 31/12/2016 it had net assets of £483 million including intangible asset of £2,754 million. The position as at 31/12/2017 would have deteriorated to the extent that the net position would have become negative , including intangibles not impaired. Let’s think about it. Would you value a mature but troubled company to the tune of £1.2 billion when it has a negative balance sheet? That is what investors are valuing it at the current share price. The share price is too high to sustain this valuation. I expect the share price to drop significantly once the rights issue document is circulated to investors.
25/2/2018
19:19
paddyfool: I think we are saying they have radically overpaid. Your house may be illiquid but at least you could sell it eventually and you didn't pay the entire value of it in debt as you had a deposit. Capita made there acquisitions based on their share price. i.e. they paid x times profitability when their share prices was trading at 2x profitability. The share price is now trading at x/10. A lot of those acquisitions are looking very ugly right now on that measure alone (Debt on the balance sheet). There are also very few notable acquisitions which have turned out well. Hence the CEO saying he is going to get rid of some. So in summary yes they did overpay and unlike your house they bought 100% of the business with debt. Unlike your house the businesses acquired will not rise in value of their own accord. They will have to grow to acquire more value and very few have. Worse than that when a large corporate buys a business they take advantage of synergies...this is code for taking out as much cost as possible from the overhead and more besides. This has the effect of making the purchase look great, the reality is the cost savings somehow never quite materialise as they should, but they do have the effect of destroying underlying value. i.e. you cannot now easily resell that business as you have removed IT, HR, Finance, management, premises and by accident a chunk of the talent which made it worth buying, so the initial hoped for, and paid for, growth evaporates. So similar to buying a house and ripping out the bathrooms, central heating and kitchen and expecting it to rise in value. Ok so Ive overcooked the argument but the principles are there.
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