Fd Technologies Public Share Discussion Threads

[bootycall] 05/10/2018 08:44

skatersav . just for the record, I would agree with Matt Earl on some of his calls but definitely not this one. Opodio...I was warning people about that Rob Terry and Quindell long before everyone jumped on the bandwagon.
I am slowly familiarising myself with the note, but I have also just read the Liberum update, which provides a logical explanation for how FDPs software margins are mid range for the sector once you strip out consulting revenues. If this is the case then the central argument of the bear raid disappears. Liberum also deals with several other points, although I in my opinion the relatively modest investments in joint ventures will require further disclosure from the Company to allow a complete sign off.
Personally I have been very impressed by the management of FDP and the quality of their client list.

[skatersav] 05/10/2018 08:11

Matt Earl called Connaught a failing business and nearly lost his job for doing so. It subsequently went bankrupt. He was the first to move to a Sell on Carillion, years before it went under. He called Globo a fraud, and Tungsten Corp a failure... Before writing off his analysis, maybe you should read it, absorb it and then decide whether you want to own these shares at this price. Cold towel etc.

[moorsie2] 05/10/2018 07:36

Liberum this morning reiterates its buy and 5300 target.

The fight back starts

05 Oct 18 Liberum Capital Buy 3,425.00 5300.00 - Reiterates

[moorsie2] 05/10/2018 07:29

it is both.

It is on the island of Ireland and UK registered and domiciled. This is the essence of GFA - people in N. Ireland can be British or Irish or both depending on them.

Nationalism is such a narrow dangerous thing

[mw8156] 05/10/2018 06:57

can't agree; their software is world leading, is it not and this is a UK company.

[opodio] 05/10/2018 06:55

Sickening read

Quindell mk.2

Irish company too

[windsor430] 05/10/2018 06:48

Bootycall - I don’t disagree - but one thing you won’t see from a shorters 40page report is balance.

[moorsie2] 05/10/2018 06:21

Surprised not to see a notice of results announcement out today.


I agree that the report reads like a bearish hatchet job. Only one way to hurt this agitators is to release strong news and results..

[bootycall] 05/10/2018 01:23

windsor430 I believe that four gentleman at KPMG were admonished in 2015 for their individual tax affairs resulting from a cross border property investment. What has that got to do with FDP ? The bears draw attention to the fact that FDP has not changed its auditors for 19 years. This is a reasonable concern since it is not following "best practice" but in all my personal dealings with KPMG, I have found them first rate. The fact that Brian Conlon trained with them donkeys years ago is pretty irrelevant given that he spent the rest of his career at Morgan Stanley and Sunguard before starting up First Derivatives in 2006.

Then we have the revelation that FDP as a Northern Ireland Company has received grants above the line...whooooaaaaaa STOP PRESS ...what a revelation. As for the property exceptionals they were clearly reported as such, at the time and all the analysts would have ignored them in calculating normalised numbers. They are also not applicable to the last three years trading. Had FDP massively changed their amortisation and capitalisation policies recently I would also be wary...but I see that capitalised costs are still being expensed from several years ago offsetting most of the benefit of this years charge .

What, in my opinion, I would have liked to see from this report...is balance. I may be wrong but I cannot remember reading any real explanations being offered from FDP management towards any of the issues raised...which leads me to question whether the analyst sought appropriate answers from a the Company or preferred to speculate on the bearish tack. Time will tell who is right. In the ensuing melee the shorters will profit no doubt.

It is worth noting that FDP has sacrificed short term profits to build a long term pipeline. It takes well paid consultants away from billable work so that new verticals can be established by way of new ventures.Somehow this leads the bears to float the question of whether there has been any vendor financing orders from the new ventures , but why not just get the facts from the company to put the record straight . Also it has to train huge number of graduates each year who do not apparently make a meaningful contribution until the end of their first year. I assume FDP has just moved into its closed season so will be unable to put the record straight. At least we know know the direction of travel thanks to a press release a few days ago.





Maybe I have missed the point but if software sales were somehow disappointing why are they currently trying to recruit 400 people. It’s all above my pay grade.

[windsor430] 04/10/2018 19:02

I hold FDP - but the report did make me stop & think ie about the KPMG links & loyalty (didn’t know), the investment vehicle (didn’t know), consultative roles (have seen this myself - but didn’t put me off), lower R&D expenses (again known, but new slant). Have been surprised there’s been less debate about it on here today. IQE attack felt more coordinated & based on an already high shorting strategy.

[moorsie2] 04/10/2018 16:52

I am expecting the company to come out with a statement to morrow or Friday announcing 1st half trading update and date of results.

Otherwise this can and will fall further due to fear

But I am not selling 1 share. This is a rare buying opportunity

[bootycall] 04/10/2018 16:36

Windsor430...IQE is completely different but thank you for the heads up. If I had not met the management of FDP several times in recent year I might fall for this type of bear raid. Appreciate the price may fall further because of a “ derating” but equally worried I will miss my chance of getting on board. FDP is one of those rare companies that consistently beats its numbers although I am expecting a stronger 2nd half. DYOR

[windsor430] 04/10/2018 15:57

Expect a coordinated attack in the next two weeks. A report or two by an analysis firm. That’s what followed ShaowFalls bear report on IQE & look at it now.

[bootycall] 04/10/2018 15:39

Yes, the stock has been fully valued... but I have been waiting for it to get to an acceptable buying level for ages. Today I finally started a position. Thank goodness for the bear raiders . This is probably my quality pick of the sector. DYOR I often take opportunistic positions which I trade repeatedly. GLA

[moorsie2] 04/10/2018 15:16

I think the negative bear analysis is quite poor.

Lets see how management responds in the coming days and weeks with results

[mach100] 04/10/2018 14:46

Certainly getting hammered today! Not spooked into selling but in fact would add more if I could.

[moorsie2] 04/10/2018 13:11

exactly - full bear run is on now!

[ds8095] 03/10/2018 15:55

The full bear case is now available on Shareprophets.com

[sspurt] 03/10/2018 08:59

I think the main risk is that management decide to really go for it, sacrificing the bottom line in a ramp of expenditure to grab market share at an accelerated rate. In this event the market would derate the shares, never mind the long game. Could get messy.

[moorsie2] 03/10/2018 07:26

The only risk I see is that as the high multiple is based of hopeful future earnings and valuation of software, that if all the new hires are simply pure consultancy rent outs then the company has growth and has more employees but the valuation would drop as no great traction in Kx and software.

So that is my key watch out in the upcoming half year results.

Also think they will pick up at least 1 awards at AIM awards bash next Thursday night ... ;)

[malcontent] 02/10/2018 20:32

my largest SIPP holding by a distance and one of three I am most comfortable with.

So few of us posting on this board - it's always a mystery but maybe it's because there's not really a strong bear case to make except for the racy multiple, and that's not an issue if FDP keep on delivering

[moorsie2] 28/9/2018 08:07

Fantastic news - looking forward to the half year results now!!

[moorsie2] 28/9/2018 08:03

First Derivatives (FD) today announces its intention to recruit 1,000 new employees in the next three years. The new recruits will facilitate the continued rapid growth of the business and will be across graduate, experienced and senior levels. This employee expansion builds on sustained growth at FD, with annual growth averaging 31% over the past three years.

FD is a multinational software and consulting company that currently employs more than 2,400 employees. The company recruits exceptional candidates, both local and international, with a focus on STEM backgrounds, and provides unparalleled career opportunities. The new jobs will be across the company’s operations, including FinTech, where FD works with many of the world’s leading financial institutions, and a range of other industries, including manufacturing, digital marketing, retail, gaming, telecoms, automotive and space. FD’s Kx technology addresses Big Data challenges across all these industries, providing a stimulating work environment and the opportunity to work with our global client base to provide cutting edge technology solutions.

Brian Conlon, CEO of FD, commented: “This is an exciting time for FD and this expansion reflects the strong growth and development of the company. We have a highly skilled and accomplished team, and we look forward to bringing on more talent.”

About FD
FD is a global technology provider with 20 years of experience working with some of the world’s largest finance, technology, retail, pharma, manufacturing and energy institutions. Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 14 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,400 people worldwide.

For more information about Kx please visit www.kx.com. For general enquiries, write to [e-mail]. For press inquiries, write to [e-mail]

[swiss paul] 26/9/2018 12:03

With only weeks to go until the 2018 AIM awards, former AIM writer of the year Andrew Hore reveals who he thinks will walk off with the gongs this time.

Global achievement award
Software provider and consultancy First Derivatives is a regular on various shortlists, but it does not tend to win very often. It is one of the best performing AIM companies in terms of share price. More than two-thirds of revenues come from outside the UK.

Best technology
Software supplier First Derivatives is on the shortlist for the second year running and it is also in the running for the global achievement award (see above).

Entrepreneur of the year
Brian Conlon founded First Derivatives in 1996 and it is now capitalised at more than £1 billion.

Best of luck all and proud to hold

[moorsie2] 05/9/2018 11:13

Clear overhang on the shares. Guess we just have to sit it out until the seller clears their position