Ncc Share Discussion Threads

[sharw] 07/9/2023 17:59

Yes, interesting that there have been 4 notifications since the 22nd of June trading and strategy update. Two are new, breaking up through the 3% requirement:

The Wellcome Trust

NFU Mutual Insurance Society

The third was Odyssean Investment Trust PLC breaking up from 5 to 6%

These were counterbalanced by Schroders Plc dropping from 5.53% to 4.65%

Interesting comments from Odyssean here:

[boadicea] 06/9/2023 15:10

We have seen a steady drip of institutional holdings increases over the past 6 months. There have been no balancing reductions, implying that a large holding is in the process of liquidating but has not yet announced, or that there is a significant disinvestment by private/non-notifiable holders. The latter seems more likely.

Instutional managers are not infallible but they will have combed through the figures and forecasts and a handful of different ones seem to have reached the same conclusion - i.e. that it's currently at least worth a pound with positive prospects from there.

[blackhorse23] 29/8/2023 11:12

It's looks very cheap

[blackhorse23] 29/8/2023 11:11

Bought today

[cerrito] 23/8/2023 14:27

Good to see further increase by Odyssean to 6.1%

[blackhorse23] 21/8/2023 23:11

Bought APH today , chances to get 100% capital gain next month

[cerrito] 20/8/2023 17:39

I have been here since 2017 and have an in price of 122,which would have been lower if I had sold more in the heady days of end 2020.
My holdings in cyber security shares have fallen this year following the takeover of Ecsc and I live in hope that someone will take my other cyber security holding CCS out of its misery but I do not see that happening. In the wider IT sector I will soon say goodbye to BLTG when that takeover goes through and for me SGE is fully priced at the moment.
Thus looking at what to do with NCC.
I am going on the basis that the final dividend will be pruned from the 3.15p of the last year's so no reason to look at the yield on these reduced prices.
I see the reports in a site called Tech Crunch that following the February lay offs, as of this month there are further lay offs.
I note the comments about the strategic review and a possible spinning off of the software resilience division and Peel Hunt earlier this year mooting a £240m price. Given the £300m odd mar cap that would be great news.
I note that there is no big shareholder who could force change. As far as I can work out LGEN with 7.13pc is the largest but I may be wrong. None of the larger ones have sold off big time in the last months though Montanero and Schroders have slimmed a tad.
While no expert in the sector my gut tells me that nothing sufficiently stand out about the cyber security business that we can expect a take out at a significant premium.
I know in this industry it is difficult to value on pe but I go on the basis that the eps last year of 7.4p will not be repeated nor that of H1 of 2.4p.
I may add a very few but the possibility of a corporate action means no desire to sell.
PS
FWIW, which in this case is not much, the marcap and book net worth as of the interims are pretty much the same.

[blackhorse23] 07/8/2023 23:10

Over 100p this week

[alancapone] 07/8/2023 22:56

75p comes first. Learn how the game works.

[blackhorse23] 07/8/2023 13:27

Bought some today

[hamhamham1] 03/8/2023 06:20

I topped up this week, bargain prices IMO.

[dealy] 23/7/2023 10:06

Well spotted

[sharw] 22/7/2023 13:27

Not so. It appears that Schroders failed to fill in the 'previous' box. They held 5.53% at 31st May 22 but have not issued a holding statement until this so they would have sold shares this week.

[dealy] 21/7/2023 13:19

so that's 7.5% of the company hoovered up this week.

[jerseyman1] 20/7/2023 22:43

And Schroeder's at c5% today too. Heavy buys from blue chip institutions....

[dealy] 19/7/2023 18:57

New shareholder (Welcome Trust) just announced a 3% holding (new)

[dealy] 18/7/2023 08:41

darktrace up 23%. Read across to NCC ?

[queenbreguet] 12/7/2023 15:59

Enjoy the ride

[queenbreguet] 12/7/2023 09:08

Lets hope so

[a2584728] 05/7/2023 07:58

Always a good sign that we have bottomed out imho

[boozey] 27/6/2023 16:55

And also there are three directors investing here - in particular I like it when non-execs invest.

[boadicea] 27/6/2023 13:48

Half a million may or may not be a critically large amount to him personally but it's definitely more than a token gesture.

[boozey] 27/6/2023 07:18

Some major director purchases this morning. Someone has faith in this old dog.