Gresham Technologies Dividends - GHT

Gresham Technologies Dividends - GHT

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Stock Name Stock Symbol Market Stock Type
Gresham Technologies Plc GHT London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 142.50 01:00:00
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Gresham Technologies GHT Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

planit2: They are moving to the reporting style of a larger company. Each contract is smaller in the overall scheme of things now so they are not material to the performance. The main points are that we have earnings visibility now GHT operates more under an SAAS model and this should be valued as such. The current market is terrible and true price discovery of companies at a real low.
km18: ...from last year... Gresham Technologies Plc is a software and services company that specialises in providing solutions for data integrity and control, banking integration, payments and cash management. Market cap is around £132m, PE ratio 28.9. Today’s H1 21 interim results showed Group revenues up 19% to £14.5m. (H1 20 £12.2m), net cash up 9% at end-H1-21 of £8.1m. (H1 20 £7.4m). No new figures for operating profits, EPS, are provided yet. But on the face of it the commercial side of the business is growing healthily as are cash piles on the balance sheet. Revenues derived from the Clareti platform, the Group’s main money spinner, were up 30% over 12 months at £9.6m. On a forward-looking basis, Clareti Annualised Recurring Revenue (ARR) will be £12.9m., another sizeable increase in the year to come. Other non-Clareti revenues were up a more modest 2%.... ...from WealthOracleAM
richjp: I think the N1Singer price target is very encouraging. They have been pretty conservative in their forecasts with regard to GHT in the past and were criticised by some on this forum for doing so. They were however usually right and let us hope that they are this time. It would be good to get that £2 price level comfortably out of the way.
gottafly: crazycanuck, thanks for that, I received the notification and was going to post on here but you beat me to it. Very strong support from N1Singer with a Buy recommendation, so seems they think GHT is under valued. Given the numbers and this N1Singer view I am surprised the share price has not reason more, still if N1Singer are right we can look forwards to a 20% increase this year - happy days.
richjp: I think this a reassuring update. The acquisition was significant relative to the size of GHT and it's good that no nasty surprises seem to have arisen. On the subject of sales growth I would make two points. From past experience I know how long sales cycles can be. GHT have previously admitted to nine month sales cycles, however our new chairman is also the chairman of D4T4 where I have taken a small punt. Talking about D4T4 he said they were involved in fifteen month sales cycles and I would not be surprised if that is the reality sometimes for GHT. I no longer pretend to understand all of GHT's product set, however I know that compliance reporting is a significant market. I think banks are always prepared to spend big time on trading systems as well as back office payment and settlement systems. Despite regulatory pressure I suspect they are less eager to spend on software for that purpose. Hopefully that will gradually change.
gottafly: Well a good announcement but agree that the current growth rate is not exactly startling. Whilst the acquisition of Electra may well prove to be a 'game changer' I think (as I would expect to be the case) it has somewhat occupied management time, so perhaps some effort was deflected away from sales growth whilst the full integration takes place. N1Singer have produced a supportive note - Gresham has won an extension and expansion deal with a long-standing Tier 1 investment bank customer as it continues to standardise on the Clareti platform. Including this and other deals, current ARR rises to £23.3m, a 5% organic uplift from end June. Clareti/Electra are trading in line, though Gresham flags potential for further new business in FY21 and an “encouraging pipeline” for FY22. Non-Clareti revenues are performing ahead of expectations leading us to upgrade FY21 revenues and adj. EBITDA by 5%, leading to a cash EBITDA upgrade of 25% to £1.5m. Today’s deal underpins our FY22 estimates, which we leave unchanged, though suspect the risk is to the upside. The stock remains firmly in the “best ideas” stable. The share price has ticked up a little which again shows this announcement is viewed as positive but in the 'steady as she goes' category. GHT have always been good at the technical stuff and in building better/wider offerings. However, in my view sales performance is still to meet the underlying Clareti potential, fingers crossed that the new board has well in hand and that 2022 is a great year.
gottafly: Qantas thanks once again for pointing out further good news re Brinks. jadeticl3 - I believe GHT used to have a 'followers login' but that ended some time ago, suggest that you set up a Google alert (pretty easy) and then, assuming the Gresham news is reported 'publicly' elsewhere (which I think it always is) then you will get (instant if you wish) email notification of news/publicity. So the Brinks deal again looks really good news, if I have read it correctly they have only just become a user and have quickly expanded usage to include Clarity Connect as per this quote from the news item - "Our recent success and go-live with Gresham’s Clareti Control solution and the prompt yet comprehensive proof-of-concept meant the decision to expand our use of Clareti was easy". So it may not be an RNS newsworthy financial deal but the message is clear that once Clarity is in use it can rapidly be used to advantage elsewhere, great news for increased usage from the customer base. The Google alert - yes just signed up for it - identifies another very interesting (perhaps even more so than Brinks) article published yesterday in the Fintech Times. An interview with Neil Vernon (GHT CTO) regarding the future of retail banking. The message appears to be that retail banks must change/adapt rapidly to meet changing customer requirements and the threat of aggressive new entrant service providers. He states that innovation is being held back by legacy tech and data - "The big challenge is innovative new products can require different kinds of control frameworks, with an agile, flexible approach. But behind the scenes, banks’ infrastructure and data make this difficult.". Regulatory activity also adds pressure and of course is a must do. So the key is stated to be managing, understanding your data and having a data-agnostic solution (i.e. Clarity) - "which can bring together data from multiple sources and siloes across your organisation". This appears to be what Brinks have decided to implement. As always DYOR but it seems to me there is a change in emphasis from GHT driven by the new board. There is an increasing level of news releases which is an encouraging improvement on communication (historically a GHT weak point) but even more important in my view is that GHT are promoting themselves as the 'glue' for your legacy system data - gaining control of your data is the key - rather than having the time/expense to 'immediately' replace legacy systems, however desirable long-term that might be. So in crude terms GHT are offering a 'quick fix' with it would seem cost savings as an added benefit. The AGM is only a couple of weeks away and I reckon will provide further positive news and progress.
gottafly: Just been sent this link which is a GHT analysis report dated just 2 days ago, a good read in my view. The headline is "Gresham Technologies plc's (LON:GHT) Stock is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?". The analysis is quite comprehensive and highlights the lack of performance in the past and concludes with the statement - mixed feelings about Gresham Technologies. With GHT, IMHO it is all about what GHT can deliver in the future with the Clareti (industry leading) product set. And, as if to underline the share price volatility, today we have had one share trade on one share!
gottafly: Well another positive signing announced yesterday and the second new 'fresh' deal this month and a new usage to boot. I think this clearly shows that if you have no legacy system then Clariti is the product of choice. planet2, you are correct that GHT stopped posting each new deal as an RNS some time back. They moved, thankfully in my view, to a more measured approach, with only significant wins being individually announced. The problem with this change though was that because GHT provide 'enabling software' (and therefore are not naturally front page news) this exposed the poor level of their other news channels - social media, blogs, white papers etc. GHT went from 'overkill' to largely 'radio silence'. Getting the right message to the market is not something that GHT has been particularly good at (which doesn't help share price stability) but as I posted earlier I get the sense of a significant change of 'mood music' and determination from the new board. Borisjohnson, you are correct about the GHT share price being circa 110p when IM took over and yes no great progress, despite the strong product offering, over his 5 year tenure. This is really time to deliver and I say again, I think the new board are very focused on achieving share holder value, hence the transformative M&A statement. Getting back to the share price I believe it is at a crossroads, apparently somewhat stuck in the 150's yet with N1Singer stating they believe it is undervalued. As an example, Yahoo finance are predicting 180p within the next 12 months, good but not earth shattering. Whilst it is great to see these two new significant deals, they did not replace an existing legacy system, which is where I beleive the real prize is and I believe is the basis for the transformative M&A statement. IM has stated that replacing legacy systems takes considerable effort and has protracted time scales, so this is a long hard slog hence the search for a better way. Watch this space! As always DYOR.
gottafly: Well where do we all think we are with GHT progress and the future SP, any guesses for where the share price will be at the year end and into next year? As a GHT long term shareholder, using my rose coloured spectacles of course, I view the current share price level as significantly below where it should be. All stocks took a hit with Covid, including small market cap stocks, but overall they have recovered back to pre Covid levels, however this is not the case with GHT, perhaps it is just lagging behind the curve? The share price was circa 150p back in Feb/March so why is the share price currently well below this. I don't have access to professional research on GHT (too mean I guess) so rely on trawling the public interent sites to get a concensus, overall it does seem pretty neutral with the occasional strong buy recommendation, but in general I think the stock is a little unloved. I did find one site that stated GHT were trading at a 44.58% discount to the analyst concensus target price of £229.07. Another forecast a short term share price increase (to 135p) but then the share price down to £104.777 in a years time! Yet another, with a strong buy recommendation, quotes an analysts 12 month concensus price of 180p (this price has been around for some time). As I said in a previous post, the recent trading statement made little sense to me, it did not say a great deal new (but overall was positive) and therefore why did GHT decide an unscheduled announcement was needed. From the contents, there does not seem to be a clear and obvious reason for the trading update but clearly GHT decided that one was required. Significantly I think, the trading update was made just a couple of weeks after the board changes where Knott and Wandhoffer were appointed. I have no personnal knowledge of these individuals but they do seem to have the expertise/experience that GHT desparately need as regards delivering on the potential of the Clareti product line. Im my view, progress in the last couple of years has been woeful, with perfomance more like a family run firm than a Fintech. So my guess is that the new directors (or should I say the new board) took stock of where GHT was and concluded that a public restatement of progress - the trading update - was required. I have previously stated that the half year results announcement was lacklustre and yet the investor presentations were much more positive, so there was a disconnect created here. The other thing that concerns me is that UK Equity stocks are, in general, seriously under valued so GHT potentially looks to be a cheap aquisition (especially to a foreign buyer). So yes, I do have rose coloured spectacles, but to me everything points to GHT being significantly under valued or at this price an attarctive acquisition target. Looking at the GHT share chart, if it was worth 150p back in March then, with continued progress, it should be worth at least that now. If that were the case then the 180p level is not that far away. Ramble (due to lockdown) over, any thoughts anyone?
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