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CPI Capita Plc

-0.24 (-1.15%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Capita Plc LSE:CPI London Ordinary Share GB00B23K0M20 ORD 2 1/15P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.24 -1.15% 20.70 6,558,673 16:35:11
Bid Price Offer Price High Price Low Price Open Price
20.68 20.76 20.98 20.48 20.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Services, Nec 3.01B 74.8M 0.0440 4.70 351.82M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:06:45 O 7,367 20.70 GBX

Capita (CPI) Latest News (1)

Capita (CPI) Discussions and Chat

Capita (CPI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 18:06:5220.707,3671,524.97O
2023-12-08 17:31:2720.59187,93838,692.68O
2023-12-08 17:25:3020.7060,37612,497.83O
2023-12-08 17:25:3020.5069,91014,331.55O
2023-12-08 17:13:1520.5016,5343,389.47O

Capita (CPI) Top Chat Posts

Top Posts
Posted at 09/12/2023 08:20 by Capita Daily Update
Capita Plc is listed in the Business Services, Nec sector of the London Stock Exchange with ticker CPI. The last closing price for Capita was 20.94p.
Capita currently has 1,701,273,523 shares in issue. The market capitalisation of Capita is £351,823,365.
Capita has a price to earnings ratio (PE ratio) of 4.70.
This morning CPI shares opened at 20.80p
Posted at 27/10/2023 10:47 by hope1815
That is true I entered on a low point recently and looking long term. An example of waiting and seeing the share price fall would be Pendragon last year now 12 months on it has sold. THG share price has gone up and down past 12 months like other companies.

I consider CPI at this point a good bet in the long term either on a buyout or recovery. It depends on how people feel about how the company is presently run. A CEO is starting and the old one is leaving. The company has contracts in the pipeline that have been announced and an outlook to offload certain assets reducing debt. That sounds like a good plan but also sounds good to other PE Funds.

So if you are underwater now and your average is below 33p, I would think what I wrote in the coming year or 2.
Posted at 27/10/2023 10:18 by hope1815
Seems all here are disappointed with the Share Price. With recent news of new Contracts and some board members buying the Share Price keeps falling. The question is
Do you feel the present fall in the share Price is due to the company's performance or general market conditions?

Generally, the market has been falling even Defensive stocks but what many people may miss is that the USA side does not mind. In an article last week, PE Funds, etc are looking at UK companies as undervalued to the point of laughing at Investors. They are running the rule over certain companies with debt, revenue, and future earnings. These can be leveraged on the debt etc.

Now many Investors look long term and do not look at the share price short term but in a year or 2. These people are Peter Lynch, Ben Graham, Waren Buffet, John Bogle, John Templeton, Jim Slater, Charlie Munger, and Michael Burry to name a few.

Infaltion has gone up, Companies market cap has gone down mostly across the board. The US PE Funds etc are holding cash and WAITING..Private Investros keep selling Institutions are holding share price keeps falling.

So you take a deep breath and think. If you are concerned with Share Price short-term Investing is not for you.
Posted at 03/9/2023 12:02 by kipper999
I have read many times that JL is quoted as saying the share price will be back at 97p
Diehard believers poo poo this, saying he never said that
So, lets just take a look at exactly what was said by JL in his Daily Mail interview in July 2022

See the article here...

“The group is worth around £430million – a fraction of its former value and significantly less than the 97p at the time of 2018's £700million emergency rights issue that Lewis launched to help stem losses.”

“He is optimistic that its stock will hit the pre-rights issue price in the next year or two.”

Well, that's pretty unequivocal to me. The stock will reach pre-rights price of around 97p within 2 years.
That was said in July 2022, when the share price was 25p. Here we are well into his predictions second year & we are nowhere even near 97p, in fact we are at 17p.

I think Adolfo taking over will be the only thing that will lift this share price now. Even if he starts in Q4, the FY results announced in March '24 will be up to Dec 31st so all down to JL.

Adolfo needs to hit the ground running..
Posted at 27/8/2023 10:38 by diku
BOD don't have control over the share price...all too often you would think what the company is doing and what the share price is doing are 2 different open for speculation and manipulation on sentiment momentum...many moons ago director buying meant something...not any ore...just a short term fillip when news in public domain...if you can get 6% yield on bonds and money safe why bother buying shares in your own company if share price keeps going down...
Posted at 27/8/2023 10:19 by kipper999
I did a little digging through the RNS's over the last year or so & thought i would post to the board here for comment.

Of all the Director/PDMR Shareholding detailing purchases by company Directors etc the vast majority are Monthly share purchase under the Capita Share Ownership Plan

But there are two that stand out. These are both purchases where the person actually bought shares out of their own money, both on the same day. 13th.December 2021.

JL purchased 331,855 shares @ £0.3668 About £123k
Sir Ian Powell 70,000 @ £0.3535 About £25k

Interestingly, the share price movement prior to this date was down. See below
Sept '21 50p
By Nov 29th 45p
Dec 13th 35p So that's a 30% drop over the 3 months

This makes the point that, after the share price has dropped massively, these Directors thought to buy some shares. Which might beg the question; if the share price was such a bargain at 35p, why isn't it at 17p?
Because i see no substantial buying by the board recently.( except Claire Miles, £5k worth)

A Director purchase of, say 100k shares, would be small change to anyone on the BOD. Yet no, nothing.

That brings me/us as to the question 'why?'
Is it because the BOD know something we 'investors' don't know?
Is something nasty in the wind?
Posted at 22/8/2023 11:49 by kipper999
Interesting questions courtesy of Capitalizer over on LSE board
Comments/answers on here at all??

The share price has collapsed since the mid-year TU because Capita reported a loss and a cash outflow. Let's break it down and look again at the presentation.

Slide 9 is key: 'Cash flow and net debt movement'. It shows that "Cash generated from operations reflects non-cash nature of commercial settlement in Experience, hand backs in Local Public Services, direct cash flow impact of cyber incident and furlough repayment."

Question: we can see that the furlough repayment and the cyber incident are non-repeating costs, but what about the other two? What is the exact nature of this 'commercial settlement in Experience?" Can anyone explain?

And what is the precise nature of these 'hand backs in local government'? What are they? Will we see more of them in a repeating pattern? Anyone know?

Together with the goodwill impairments from exits, the net effect is a demolition of profitability and FCF. This is what the market hates: an inability to generate cash and profit. This is why the share price is crippled.

Please don't just pile in with a load of vague ramping. We need to understand these causes of our current poor performance. In particular:

From slide 9:

1. What are the hand backs to local govt? Which contracts? Are there more to come? Why handed back?

2. What is the commercial settlement in Experience referred to on slide 9?

From slide 8:

3. What exactly are the business exits that represent a loss of 34.7m?

4. What exactly does the impairment of goodwill (42.2m loss) refer to? Which businesses?

Any specific insights and answers? We need to understand these questions if we are to know whether or not CPI is a value share or a value trap. They are key to understanding whether or not this business can return to profit and growth or whether it is in a terminal decline.
Posted at 17/8/2023 10:04 by kipper999
Don't TRADE, just DON'T

You're wasting your time, these folks are diehard believers

Lewis took the helm in 2017 with a share price at around 412p

Now 19.78p

That overseeing a 95% reduction

Closing Share price on Fri 28th July was 27.98p

Now it's 32% lower at 19p after dissapointing H1 Results

Along with 'Revenue is Vanity, Profit is Sanity',here's another 'city' saying we should have all stuck to

'Sell in May and go away and don't come back untill St Leger's Day'

34.28p on the 5th May. 19.31p now. That's a 43% drop

But don't worry as St Legers Day is 17th September, at which time the share price will begin to rise to 50p

Yer, right
Posted at 11/8/2023 11:26 by dipa11
Shore Capital upgrades Capita to 'buy', sees 50% upsideFri, 11th Aug 2023 08:23?(Sharecast News) - The share price of Capita was given a much-needed boost on Friday morning after Shore Capital upgraded its rating on the business process outsourcing company from 'hold' to 'buy'.The stock, having lost over a quarter of its value in the past month, is now trading at 20.9p (up 3% on Thursday's close).Capita disappointed investors last week with its first-half results, reporting revenues, negative free cash flow, losses and debt figures below expectations. The news also comes after two data breaches, a possible fine and the announced exit of its chief executive Jon Lewis.Shore Capital analyst Robin Speakman said "operational challenges" are still evident for the group, but thinks a lot of the bad news is already baked into the price."It is apparent, with restructuring due to complete this year, that Capita is set to begin to deliver better results. Much is now behind the group, challenges remain, but survival is not in doubt," Speakman said."Over the next year we expect to see free cash flow strengthen and profitability rise. Given survival and operating improvement, we can't justify a 20p share price and a 'hold' stance."Shore Capital estimates 50% upside to the current share price to around 30p, though much "hangs on the visibility of free cash flow improvement". The broker expects a swing back to positive cash generation in 2025.
Posted at 11/8/2023 09:35 by mbaxter
Bought back in yesterday. Nice broker note this morning to cheer us all up

10:13am: Capita bounces as broker sees 50% upside

Shares in Capita PLC (LSE:CPI) are holding firm amid the sea of red on trading screens in the UK supported by an upgrade by Shore Capital which is targeting 50% upside.

The broker has put the stock on is buy list, upgrading from hold, helping send shares 3.2% higher at 20.94p.

It thinks “with restructuring due to complete this year, that Capita is set to begin to deliver better results.”

“Much is now behind the Group, challenges remain, but survival is not in doubt.”

“Over the next year we expect to see free cash flow strengthen and profitability rise.”

As a result it said it couldn’t “justify a 20p share price," and has set an initial 30p share price target.

The outsourcer has attracted the headlines this year after a cyber attack which will cost the firm around £25 million.
Posted at 08/8/2023 07:02 by heatseek77
al101uk thank you for your summary below I honestly thought JL had been quoted as stating 97p, I think I even put it in an email to HP 🤦🤦

A lot of negative sentiment here, understandably I guess, given the hype surrounding the imagined resumption of dividends. Not seeing much thought through discussion about the underlying business though... has anyone actually watched the results presentation?


"Putting aside the Hack, why are we not at zero debt when it was flagged at FY22?"

I couldn't find a promise of reducing debt to zero by FY22 (or any other time for that matter). Debt reduction is based around the sale of non-core businesses, something the company cannot predict the timescale on... which leads in to your next question. But in addition you can't just "put aside" the cash that had to be diverted to pay for the hack.

"Where has all the money gone from the various sales?"

When the company RNS's the sale of a non-core business, that doesn't mean that the money is in the bank. Worth watching the presentation for more details on the actual realisation of cash from sales for H1 vs the sale proceeds due. From memory they have currently had about 10% of the cash and that doesn't include a couple of deals that are still being worked on.

"Why oh why did Jon Lewis say last year he felt the share price would be 97p by now?!"

He didn't. I assume you're refering to the interview where 97p was mentioned as the price at the time of the rights issue when Capita was near bankruptcy. John Lewis never menioned 97p or any other target for the share price. Neither should he.

Please people, watch the presentation, most of the issues have been addressed there, but if you're waiting for the resumption of dividends, I don't expect that until 2025, when the company is expected to turn cashflow positive.

Why is the price tanking?

You only have to read the panic here and the RNS of an ii reducing to work that one out. Not many people are going to jump in here on the results published and the share price reaction to it and many of the people who invested here, who have been basing their investment thesis on hype, will be selling along with the ii.

The company is growing revenue and expects to continue to do so, operating profit is up 42%, PBT is up 34% reduced debt by £170 million in the last 12 months (23% of net debt and 42% of financial debt) and already has perfectly servicable debt levels now. There are several things that are working their way through the system that will improve things going forward in the short, medium and long term:

1. The sale of non-core and reduction of debt
2. The resolution to the pension issues (which sounds imminent)
3. The winding down of property leases (reducing net debt further).
4. The continued replacement of lower margin contracts with higher margin ones.
5. The resolution and insurance payout for the hacking issue.
6. The continued expansion of AI within Capita.
7. £40 million p.a. of cost savings by end of 2024.

To name a few off the top of my head.

Anyone who thinks the business is worse now than it was five years ago, is frankly deluded and the company remains very cheap (and getting cheaper) on pretty much every metric.

I see no reason to sell a position that is sized appropriately for what was and remains a recovery play.
Capita share price data is direct from the London Stock Exchange

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