Newmark Security Share Discussion Threads

[hedgehog 100] 11/5/2023 11:08

Paycor's tools are essential, it consistently beats expectations, its margins are expanding, and it has a high level of recurring revenue:-


"Paycor HCM, Inc. (PYCR) Q3 Earnings and Revenues Surpass Estimates

Zacks Equity Research
Wed, May 10, 2023 at 10:55 PM GMT+1

Paycor HCM, Inc. (PYCR) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.08, delivering a surprise of 33.33%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Paycor HCM, Inc. , which belongs to the Zacks Internet - Software industry, posted revenues of $161.48 million for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 3.46%. This compares to year-ago revenues of $122.6 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. ..."




"Paycor HCM (PYCR) Q3 2023 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool
Thu, May 11, 2023 at 8:30 AM GMT+1

... Rachel White -- Vice President, Investor Relations

Good afternoon, and welcome to Paycor's earnings call for the third quarter of fiscal year 2023, which ended on March 31. On the call with me today are Raul Villar, Jr., Paycor's chief executive officer; and Adam Ante, Paycor's chief financial officer. ... With that, I'll turn the call over to Raul.

Raul Villar -- Chief Executive Officer

Thank you, Rachel, and thank you all for joining us to discuss Paycor's fiscal third quarter results. As employee engagement nationwide dropped to the lowest level in nearly a decade, we are seeing robust demand for our modern and differentiated HCM suite that enables leaders to more effectively coach, optimize and retain their people. With these essential talent tools, our customers are improving the core strength of their critical frontline leaders and increasing their employee retention by 10%. Revenue grew 32% this quarter as we continue to make great progress expanding our sales coverage and increasing PEPM.

This also marks the fourth consecutive quarter of margin expansion, delivering over 400 basis points of improvement year over year, while investing in capabilities that further differentiate Paycor in the market. Paycor's strong results are evidence of consistent execution across the enterprise. We continue to expand our go-to-market capabilities, seller headcount growth remains on track for 20%. Win rates remain high, average deal size continues to expand, and we are pleased to report another record third quarter for bookings. ...

I would like to thank the entire Paycor team for these amazing results. With that, I'll turn the call over to Adam to discuss our financial results and guidance.

Adam Ante -- Chief Financial Officer

Thanks, Raul. I'll discuss our third quarter results and outlook for the remainder of the fiscal year. As a reminder, my comments related to financial measures are on a non-GAAP basis. We delivered another strong quarter with total revenues of $161 million, a 32% increase year over year and recurring revenue growth of 23% over the prior year, marking the sixth straight quarter of achieving our 20%-plus target and a testament to the consistent execution from our team. ..."

[hedgehog 100] 10/5/2023 21:42

Paycor HCM (NASDAQ: PYCR), Grosvenor Technology's largest North American partner, has just announced its third quarter results today, after close of the US markets.

And it's another quarter, and another set of stunning quarterly results ... which is more great news for NWT:-

"Paycor Announces Third Quarter Fiscal Year 2023 Financial Results

May 10, 2023 at 4:16 PM EDT

• Total revenues of $161.5 million, an increase of 32% year-over-year, while expanding margins

• Recurring revenue of $150.8 million, an increase of 23% year-over-year, and the sixth consecutive quarter of achieving 20%+ revenue growth

• Raises FY’23 revenue and Adjusted operating income guidance $5 million and $3 million, respectively, year-over-year at the top end of the range

CINCINNATI , May 10, 2023 (GLOBE NEWSWIRE) -- Paycor HCM, Inc. (Nasdaq: PYCR) (“Paycor”), a leading provider of human capital management (“HCM”) software, today announced financial results for the third quarter of fiscal year 2023, which ended March 31, 2023.

“Paycor posted robust 32% revenue growth year-over-year, reflecting continued strong demand for our innovative HCM suite and consistent execution of our go to market strategy as we expand nationally,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “Paycor’s ability to invest in differentiated cloud technology that enables all leaders to be more effective while expanding margins for the fourth consecutive quarter demonstrates the scalability of our business model.”

“This quarter we launched powerful new analytics and automation capabilities that empower frontline leaders to drive business results. We continue to advance the platform with leading-edge capabilities, such as leveraging artificial intelligence to optimize sentiment in performance reviews and acquiring a behavioral science-based microlearning platform that will enable leaders to develop their employees more effectively.”

Third Quarter Fiscal Year 2023 Financial Highlights

• Total revenues were $161.5 million, compared to $122.6 million for the third quarter of fiscal year 2022.

• Operating loss was $8.0 million, compared to $23.5 million for the third quarter of fiscal year 2022.

• Adjusted operating income* was $39.1 million, compared to $24.7 million for the third quarter of fiscal year 2022.

• Net loss attributable to Paycor HCM was $7.3 million, compared to $16.7 million for the third quarter of fiscal year 2022.

• Adjusted net income attributable to Paycor HCM* was $31.6 million, compared to $18.6 million for the third quarter of fiscal year 2022.

*Adjusted operating income and adjusted net income attributable to Paycor HCM are non-GAAP financial measures. Please see the discussion below under the heading "Non-GAAP Financial Measures" and the reconciliations at the end of this press release for information concerning these and other non-GAAP financial measures.

Third Quarter and Recent Business Highlights

• Acquired Verb, a modern behavioral science-based microlearning solution to develop frontline leaders and their teams. Paycor plans to integrate Verb into its HCM platform to help organizations inspire positive, sustainable behavioral change through personalized development journeys.

• Building on artificial intelligence-driven innovation such as Paycor Smart Sourcing and Predictive Resignation, Paycor introduced its existing natural language processing and sentiment analysis engines into Performance Reviews to provide frontline leaders real time feedback on the language used in evaluations to foster a more humanized, engaging work culture.

• To further support frontline leaders, we deployed Industry Reports to provide quick access to important insights about their business.

• Won six Titan Business Intelligence Awards spanning Paycor’s best-in-class Talent Management solution, Paycor Smart Sourcing, and insightful analytics that help frontline leaders optimize business decisions.

Business Outlook

Based on information as of today, May 10, 2023, Paycor is issuing the following financial guidance:

Fourth Quarter Ending June 30, 2023:

• Total revenues in the range of $135-$137 million.

• Adjusted operating income* in the range of $13-$14 million.

Fiscal Year Ending June 30, 2023:

• Total revenues in the range of $548-$550 million.

• Adjusted operating income* in the range of $80-$81 million.

*We are unable to reconcile forward-looking adjusted operating income to forward-looking loss from operations, the most closely comparable GAAP financial measure because the information needed to provide a complete reconciliation is unavailable at this time without unreasonable effort.

Conference Call Information

Paycor will host a conference call today, May 10, 2023, at 5:00 p.m. Eastern Time to discuss its financial results and guidance. To access this call, dial 1-877-407-4018 (domestic) or 1-201-689-8471 (international). The access code is 13735321. A live webcast and replay of the event will be available on the Paycor Investor Relations website at investors.paycor.com.

About Paycor

Paycor’s human capital management (HCM) platform modernizes every aspect of people management, from recruiting, onboarding, and payroll to career development and retention, but what really sets us apart is our focus on leaders. For more than 30 years, we’ve been listening to and partnering with leaders, so we know what they need; a unified HR platform, easy integration with third party apps, powerful analytics, talent development tools, and configurable technology that supports specific industry needs. That’s why more than 30,000 customers trust Paycor to help them solve problems and achieve their goals."

[hedgehog 100] 07/5/2023 11:47

Impax Asset Management (IPX) shows the strong investor appetite for green investment, and the fantastic returns that can be achieved in this area:-

"About Us
A specialist asset manager, investing in the opportunities arising from the transition to a more sustainable global economy.
Founded in 1998, Impax Asset Management has pioneered investment in the transition to a more sustainable global economy and today is one of the largest investment managers dedicated to this area."



(IPX) has a current market cap. of over a billion pounds, with a P/E in the mid 20s, and a market cap. of about six times its annual revenue.

And its share price has 200-bagged within the last twenty years, from a mid 2003 low of c. 3.5p, to its current share price of 799p.


Impax Asset Management (IPX):-

[hedgehog 100] 06/5/2023 16:52

NWT's website has just added a new article about Safetell's Achilles Carbon Certification Programme participation, unveiled on Safetell's website in mid April.

This new article reports it from the perspective of the NWT Group rather than its Safetell subsidiary, encompassing Grosvenor Technology too.

NWT seems to be an absolute exemplar in its commitment to green best practice, and a top choice for investors seeking great investment returns while supporting net zero objectives.


"Safetell Commits to Carbon Reduction with Achilles Certification
MAY 2, 2023"


"Safetell Commits to Carbon Reduction with Achilles Certification

Newmark Security is taking a leading role in reducing its carbon footprint, with its subsidiary business Safetell committing to the Achilles Carbon Certification Programme.

As the world becomes more interconnected, businesses are increasingly evaluated on their sustainability approach and Corporate Social Responsibility (CSR). Once something of a fringe consideration, they have become a primary focus for companies to remain competitive, attract and retain talent, drive innovation, and build brand loyalty.

Newmark Security knows how important it is to implement and maintain high standards of CSR and always looks at how we can be in constant improvement mode regarding sustainability. That runs throughout the whole business, right from the leadership of Newmark to our subsidiary businesses, Safetell and Grosvenor Technology.

Safetell is currently participating in the Achilles Carbon Certification Programme, a global initiative that helps businesses reduce their carbon footprint and improve their sustainability performance.

Focusing on areas such as energy efficiency, renewable energy, waste management, and transport, the benefits of the certification include improved operational efficiency, reduced costs, improved public perception, and improved brand reputation.

Specifically, the programme aids businesses in the following ways:

• Measuring greenhouse gas emissions

• Managing and reducing emissions at the source

• Verifying inventory

• Mitigating carbon footprints

The Achilles Carbon Certification Programme also helps organisations to meet their environmental targets, increase their competitive advantage and gain recognition for their sustainability efforts.

Safetell has just completed its base year of the programme, which, when completed, will mean the business is certified in accordance with ISO14064-1, allowing it to make Carbon Reduction or Net Carbon Zero claims with confidence in any market or stakeholder group, including the regulators.

The ability to make those claims is undoubtedly attractive, but there are many other reasons we’ve made this long-term commitment. Here are just a few of them:

It’s the right thing to do… and there’s no time to waste

Human-induced climate change is causing extreme conditions all over the world. So much so, the UN has described it as “code red for humanity”. There is still time to fix our climate, but time is running out, and it will require the commitment of businesses, governments, and individuals alike to make it happen.

Newmark and our subsidiary businesses are 100% committed to doing our bit, and have ambitious targets to cut our short- and medium-term carbon output significantly.

Corporate Social Responsibility (CSR)

We believe passionately in being a business that lives CSR every day. We can’t do that without making meaningful progress with our carbon footprint. Carbon reduction is one of the most critical elements of CSR, as it directly impacts the environment, public health, and the economy. Our participation in the Achilles Carbon Certification Programme is a recognition that driving CSR standards and cutting emissions go hand-in-hand.

Customer relationships

One of the primary benefits of carbon reduction for businesses is improved customer relationships. Customers are more aware than ever of the environmental impact of businesses, and want to work with companies taking steps to reduce their carbon footprint. By reducing carbon emissions, we are signposting our commitment to a cleaner environment and our status as a responsible partner and supplier.

In addition to improving customer relationships, reducing a business’s carbon footprint can also help to attract new businesses. Companies wanting to partner with new vendors often look for those who share their commitment to sustainability. By reducing their carbon footprint, we are not only demonstrating their commitment to the environment, but also our commitment to responsible decisions.

We’re also seeing a commitment to carbon reduction becoming a vital part of the tendering process. Private and public businesses understand how important reducing carbon footprints is, so we increasingly have to demonstrate our commitment to carbon reduction when bidding on new projects.

Saving money and energy

Carbon reduction is an important method for businesses to reduce their energy use and save money, through efficiency measures such as improved insulation and lighting, more efficient heating and cooling systems and improved air conditioning. Additionally, businesses can switch to renewable energy sources such as solar, wind, and hydroelectric power, and at Newmark, we’re constantly considering how we leverage cleaner energy.

In conclusion, reducing carbon emissions should be a focus for any business that is committed to CSR and sustainability. Participating in initiatives such as the Achilles Carbon Certification Programme helps companies to make a tangible difference in reducing their carbon footprint, improving public perception, and building customer loyalty.

Carbon reduction also helps businesses save money and energy, making it a smart business decision and a socially responsible one. Newmark Security and its subsidiaries are proud to be involved in initiatives such as the Achilles Carbon Certification Programme and are fully committed to reducing our carbon emissions."

[hedgehog 100] 03/5/2023 19:20

Interesting to see the highest NWT volume today since January: 45,980 shares traded, with some comparatively hefty buys.

Looks like people buying in ahead of the trading update, in anticipation of a move into the 60s ... and then higher.


Recent Share Trades for Newmark Security (NWT)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
03-May-23 16:21:31 57.50 10,000 Buy* 53.00 60.00 5,750 O
03-May-23 16:04:53 53.50 6,700 Sell* 53.00 60.00 3,585 O
03-May-23 16:04:44 53.00 6,700 Sell* 53.00 60.00 3,551 O
03-May-23 14:55:47 59.00 1,826 Buy* 53.00 60.00 1,077 O
03-May-23 11:57:33 59.00 754 Buy* 53.00 60.00 444.86 O
03-May-23 10:13:22 59.16 20,000 Unknown* 53.00 60.00 11.83k O

[hedgehog 100] 03/5/2023 09:28

Grosvenor Technology should also soon have a fresh and profitable set of full year numbers, which would be the perfect base to launch a float at a really tasty valuation.

And it was indicated from NWT's AGM in February that this GT idea may be progressed this year.

So news on this could now potentially be forthcoming fairly soon.


A Grosvenor Technology spin-out from NWT, in a USA floatation, would likely be a key to an immediate and immense unlocking of its value.

NWT has previously spun-out one of its subsidiaries, in a double global first involving foreign markets.

So a Grosvenor Technology spin-out from NWT, in a US float, not only makes perfect sense, but would follow an established NWT modus operandi.

[hedgehog 100] 02/5/2023 12:42

So NWT's year ending 30.4.23 has now been completed, and we're in countdown mode to the group's year-end trading update later this month, with that RNS date expected to be announced in advance.

NWT is expected to report eps of c. 10p/share or more for its year ending 30.4.23.

Considering its recent strong half-on-half results improvement momentum, a 'surprise' on the upside can't be ruled out, but anything around eps of c. 10p/share would still be outstanding.


As regards the year ending 30.4.23 revenue split between NWT's two subsidiaries:-

• NWT's Grosvenor Technology subsidiary looks well on course to exceed £10M. in North American HCM revenues for its year just completed, with perhaps c. £18M. total GT revenue.

• With NWT's Safetell subsidiary revenues adding a further c. £4.5 - £5M., to give perhaps c. £22.5 - £23M. of NWT Group revenues for the year ending 30.4.23.


Having a full, fresh year of profit under its belt is bound to help NWT's investor sentiment further improve, and I would fully expect the investment press pick up on this opportunity in the not too distant future.

[hedgehog 100] 26/4/2023 08:55

Thank Value Hound.

I think that a key factor working for NWT is that investors have become far more selective, which will continue.

Challenging business and investment times help to separate the wheat from the chaff:-

"Only when the tide goes out do you discover who's been swimming naked."
Warren Buffett

Businesses that can do well in these challenging times must be extremely resilient and capable, and should also benefit from their relative scarcity value for investors.

Savvy investors should gravitate to these rare gems, and I think that's why NWT has bucked the trend of weak s.p.s.

The company has been able to successfully increase prices to mitigate the effect of higher costs, which is a sign of its commanding competitive position, and the strong customer appetite for its goods and services.

And the best of these shares should be able to command the sort of generous ratings that they could before the wider market derating.

[value hound] 25/4/2023 18:38

Thanks Hedgehog 100.

You make some excellent points and I sincerely hope you're right. I'm not selling any for anything less than £2.50 - but it may take a while! :-)

[hedgehog 100] 25/4/2023 18:02

Thanks Value Hound.

I've no problem with this thread being a bit of a blog, and I know for a fact that other people read it, even if they're not posting.


NWT's USA expansion has all occurred since Marie-Claire Dwek took over as CEO in 2013, and that is where NWT's biggest and most exciting upside lies, so you have to give her a lot of credit for that.

It was a bold strategic move to expand into America, and one which was the function of a clear long term vision, requiring enormous time, effort, and resources.

But this is clearly now paying rich dividends, with the company in a most enviable and exciting growth trajectory position in the world's largest economy.

Achieving this sort of success in America from over here isn't that easy or common, and reminds me of the old Hanson slogan: the company's success in the United States prompted it to describe itself in Britain as "A company from here doing rather well over there."



Similarly, you have NWT's highly-successful series of partnerships with major software companies.

And NWT's shrewd multi-million pound investment into R&D to develop cutting edge new products and services.

And NWT's tech side now making up about 80% of Group revenues, and rising, compared to barely a third in 2017.

And NWT's strongly growing proportion of high margin recurring revenues.


So in my opinion this shows that Marie-Claire Dwek is a very shrewd business strategist and implementer, and NWT are very fortunate to have her.

Obviously some people were aggrieved with the decline of Safetell's traditional banking business.
But I don't really see what NWT could have done to prevent that.
The best response was to do precisely what they have done, which was to expand into new and better areas, taking advantage of the company's cash to facilitate this.


And a re-rating upwards is now underway, to reflect the company's return to profitability, growth prospects, recurring revenues, and technological innovation and leadership.

NWT has today closed up 1.5p, taking it to a new 1.5 year closing high: i.e. 56.5p (consolidation-adjusted); which is pretty rare at the moment in the tech sector.

From the legendary Jesse Livermore:-

"Buy rule:
Go long when a stock hits a 50-week high"

[value hound] 25/4/2023 09:14

You plough an admirable lone furrow here Hedgehog 100! :-)

But you're right to do so. This could / should be worth comfortably four times where it now is IMO. But they need to show that the strategic plan is paying off / generating steady operating profits.

Also, a new CEO would be welcome but probably won't happen. Is M Dwek's role something of a sinecure? She pulled in £260k last year; a fair chunk for a company valued less than 20 times that figure!

[hedgehog 100] 24/4/2023 14:58

The PEG ratio (price/earnings to growth ratio) is a useful valuation metric for growth stocks.

From the legendary tech stocks guru Conor McCarthy:-
" ... Technology stocks - attractions and dangers
... 10. Look for companies with a PEG (current year prospective P/E divided by the growth rate for the following year) of less than 1.
This enables comparisons to be made between stocks with varying multiples and growth rates. If two stocks have more or less equal PEGs, go for the one which looks most likely to achieve market expectations. ..."


From Wikipedia:-
"PEG ratio
From Wikipedia, the free encyclopedia
... It was later popularized by Peter Lynch, who wrote in his 1989 book One Up on Wall Street that "The P/E ratio of any company that's fairly priced will equal its growth rate", i.e., a fairly valued company will have its PEG equal to 1. ..."



NWT is expected to report eps of c. 10p/share or more for its year ending 30.4.23, which at its current share price of 55p would equate to a P/E of about 5.5 or less.

There are no broker forecasts for the company, but there is a revenues vision.

From NWT's Investor Meet Company presentation video, 8th. February 2023:-
23:56: " ... Our vision is to build a business that generates 2 - 3 times its current revenues in the next 3 - 5 years. ... we are very well positioned to achieve this vision ... "


A trebling of annual revenue in five years equates to a compounded annual revenue growth of just over 24% p.a.

Though earnings growth would likely significantly outperform revenue growth, due to more higher margin business and increased economies of scale, more than offsetting the tax charge when historical tax losses are exhausted later.
So earnings growth of say c. 50% p.a. compounded over this period looks realistically achievable.

This gives the following PEG ratio:-

Current year P/E: 5.5
Divided by future % eps growth rate: 50
= PEG ratio of 0.11

And as a PEG ratio of 1 is deemed to be fair value, this would indicate that NWT is currently priced at just 11% of fair value, with fair value being 500p/share.

[hedgehog 100] 24/4/2023 09:12

Another instructive new biometrics article from Grosvenor Technology's website:-

"Insights | Human Capital Management

Biometrics in the workplace; security first

The use of biometrics in the workplace divides opinion – but is it a simple ‘yes’ or ‘no’ decision?

Chris Wrench
Senior Product Manager

Time IS money…

…and time theft (aka time clock fraud, payroll fraud and ‘buddy punching’) is still prevalent in many workplaces. A recent report suggested that, globally, businesses lose around four-and-a-half hours per employee, per week to the practice. In many jobs, that will equate to 10-15% of total working hours – reduced productivity most organisations cannot afford to wear. Other sources put the figure at 2.2% of total payroll costs. The very nature of time theft makes it difficult to monitor accurately.

Solving the problem

The use of biometrics has evolved significantly and is now extremely reliable and an obvious, simple-sounding solution to tackling buddy punching.

Employing a measure that determines individuals by using a unique, personal identifying characteristic sounds – and is – largely foolproof. Historically, it was your signature that played this role. A unique scrawl that was relied upon to secure access to information, money and places, but time and time again, it was shown to be unreliable. Forging a signature is pretty easy; just ask those teenagers hiding letters home from school.

Irises, faces and voices, however, are distinct and hard to replicate. A move to this has revolutionised many industries. Most people access their laptops and phones using facial recognition software, and you can’t leave the country without a facial scan. It’s just part of our norm now. ‘My voice is my password’ would have mystified people using telephone banking a few years ago but is now a common method of identification. And the best bit? These methods are all highly secure – and can’t be compromised.

Pros & cons of using biometrics in your workplace

One plus is very clear: Biometrics provide incontrovertible evidence of when someone arrives at work, clocks in, logs on and logs off and leaves, effectively eradicating time clock fraud.

And there are others:

• Keeps companies secure and compliant, de-risking them from litigation.
• Security and safety – effective deployment of biometric measures means an organisation knows who is on-site at any given time and potentially where they are.
• Accurate metrics around working times support workplace planning.
• Facial recognition means no touching of any equipment – an advantage given people’s heightened awareness of hygiene.
• ‘Incentive’ to log working hours accurately / deterrent to time theft.

There are, however, some potential disadvantages:

Cost

Upgrading your systems to include biometric-enabled devices may mean a total system overhaul – a cost some businesses might be concerned about. However, with the variety of time clocks available, there are very cost-effective units that can deliver the benefits without the investment.

Trust

This has a two-fold aspect to it. Employees may feel they’re being monitored and ‘checked’ on, undermining their feeling of trust in you as an employer. In this instance, it’s important to make them aware of how beneficial accurate time measurement is for them – no more missed overtime or overly long shifts! The second aspect goes to the collection of data. People are rightly concerned about a company holding data about them, but ensuring rigorous compliance with GDPR or other relevant legislation will go some way to assuaging those concerns.

Protecting Privacy

There will be some weary of the use of facial recognition or other biometrics as a whole. As a relatively new method of identification, it can be daunting to use yourself in such a way. However, educating those who express concern about the limits of the data’s use should give some reassurance. 

GDPR and privacy laws protect the public to significant degrees. Across the US, privacy laws have been tightened up considerably with costly fines for breaching rules. Businesses and organisations are taking extreme measures to ensure they comply as required by law. 

Ben Lagden, Commercial Director at Grosvenor Technology, talked recently about advances in biometrics technology and the benefits they bring. He addressed the role Grosvenor Technology take in privacy concerns:

“We take care of consent for the biometrics being taken. We make sure that they are consenting to their use for the purpose that they’re being used for… and that retention period is strictly adhered to.”

Listen to the full podcast here.

Appropriate Use

What is applied in terms of the use of biometrics needs to be appropriate to the situation, place and usage. For example, retaining a one-time visitor’s image for three years would be inappropriate. However, retaining records on people who have access to sensitive and high-level financial data is another story.

Benefits

It’s evident the benefits outweigh any downsides. People expect increased levels of security in every aspect of their lives, but they don’t want to feel their privacy has been breached or what they have provided (consciously or unconsciously) is being misused. Companies like us at Grosvenor Technology go to great lengths to ensure all images or data captured are used or retained responsibly, securely and within legislative parameters.

Call the Experts…

We have been producing time clocks, including those with biometric capabilities and security system integration for over 30 years. It’s this boots-on-the-ground approach that has led us to develop and provide solutions that suit all industries and organisations.

Our team of experts are on hand to help you identify the right biometric solution for your business. Find out more today."

[hedgehog 100] 23/4/2023 12:28

And lastly, but by no means leastly, Grosvenor Technology's Access Group software partner:-

"The Access Group ...
The Access Group is a British software company based in Loughborough, England. It was founded in 1991, and currently has more than 5,000 employees.[1] It provides business management software to over 47,000 organisations across the UK and Asian-Pacific region.[2] Turnover was £618 million in the year to June 2022 - a year in which it completed 20 acquisitions.[3] ...
On 8 June 2022, the Access Group published an article stating that they had secured further investment from their principle shareholders, Hg and TA Associates. The new investment has seen the company valuation rise to £9.2 billion making the Access Group the largest UK headquartered software provider.[19] ..."


"The Access Group reports 43% increase in pro forma revenue during a year of rising profits, strong organic growth and acquisitions
Posted 29 November 2022
London, UK
The Access Group, a leading provider of business management software to small and mid-sized organisations, has announced significant year-on-year pro forma revenue growth of 43%, leading to pro forma revenues of £685 million and pro forma adjusted EBITDAC of £256 million for its fiscal year ended June 30th 2022 (“FY22”). These results continue a track record of more than 40% revenue growth in each of the last four years. ...
Organic recurring revenue growth of 21% demonstrates the underlying power of Access’ market-leading products. The total number of organisations using Access Workspace, its global SaaS solution, grew 85% year-over-year to more than 23,000 during FY22. Access added approximately 20,000 new customers bringing the current total to more than 75,000 customers across the company. ...
“Amid a year of highlights, the key moment came towards the end of our financial year in June 2022 when we completed the largest ever private equity investment in the UK. ... ” ..."



So it looks to be a quite stunningly successful growth company, and one which has been on a bit of a spending spree recently.

These impressive customer testimonials helps to explain this success:-


"What our customers love about us

Discover how our HR software has helped organisations achieve success - read our customer success stories.

£1 million cost saving
"Although our principle driver for a move of HR and payroll software and services was a financial one, the results of this change have far surpassed simply a monetary value."
- The Co-operative Bank

Task reduced from 6 hours to 60 minutes
"A task that took six hours to write a roster now takes less than 60 minutes. It’s not very often we get the chance to hand back five hours to every senior manager every week."
- Cineworld

Reduced admin by 60% using automation
"We've been able to automate 60% of our tasks, meaning we've been able to free up 1 FTA's worth of capability to reallocate to more value-added activity."
- Livv Housing Group

[hedgehog 100] 22/4/2023 13:28

You have to say that some of these NASDAQ tech share charts look absolutely mouth-watering.

So roll-on a Grosvenor Technology spin-out from NWT, in a USA floatation, so that we can get a nice piece of this quite compelling action.

And with GT's financial year ending next week, it should soon have a fresh and profitable set of full year numbers, which would be the perfect base to launch a float at a really tasty valuation.

Hopefully news on this should be forthcoming shortly, preferably with some sort of indication of the intended spin-out valuation.

Which could potentially send NWT to the top of the top risers list.

[hedgehog 100] 22/4/2023 12:23

Moving on to Grosvenor Technology's UKG software partner.

This is another huge American company:-

"UKG ...
Ultimate Kronos Group (UKG) is an American multinational technology company with dual headquarters in Lowell, Massachusetts, and Weston, Florida. It provides workforce management and human resource management services.
The company was founded in April 2020 as a result of the merger of Ultimate Software and Kronos Incorporated.
... On February 20, 2020, Ultimate Software and Kronos Incorporated announced they agreed to form a new cloud computing venture specializing in workforce management and human capital management. The combined company, valued at $22 billion, would be one of the largest cloud computing companies. ..."


"ABOUT US
Our purpose is people
Born from a historic merger that created one of the world’s leading HCM cloud companies, we help 75,000+ organisations across every industry anticipate and adapt to their employees’ needs beyond just work."



And interestingly, Kronos evolved in a similar way to the direction that Grosvenor Technology is currently moving in:-

"Products
Originally a manufacturer of time clocks, the majority of Kronos' revenue is now derived from software and services. The company provides cloud applications[20] for workforce management and human capital management, as well as consulting, education, and support services to its customers."



While Ultimate Software c. 150-bagged (NASDAQ:ULTI) before being taken private for US$11 billion cash in 2019, from its 1999 low of c. US$2.20/share, to its acquisition price of US$331.50/share.

"Ultimate Software to Go Private in $11 Billion Cash Deal
Hellman & Friedman lead investor group in $331.50/share offer
Company makes cloud-based human-resources management software
ByMolly Schuetz
4 February 2019 at 12:25 GMT Updated on4 February 2019 at 15:50 GMT ..."


Ultimate Software (NASDAQ:ULTI):-

[hedgehog 100] 21/4/2023 18:06

Change % Chg Cur Bid Offer High Low Open Volume Chg Time RN NRN
5.50 11.1% 55.00 53.00 57.00 55.00 49.50 49.50 13,220 15:39:49

A nice end to the week for NWT today: up 5.5p to 55p (11.1%), on a series of buys.

That's actually NWT's biggest rise of the year to date, just exceeding the 5p rise to 53.5p (10.3%) on 7th. March.

Recent Share Trades for Newmark Security (NWT)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
21-Apr-23 15:36:37 55.00 1,818 Buy* 50.00 55.00 999.90 O
21-Apr-23 09:41:24 50.00 244 Sell* 50.00 55.00 122.00 O
21-Apr-23 09:26:36 54.00 4,620 Buy* 50.00 55.00 2,495 O
21-Apr-23 09:02:16 54.00 4,618 Buy* 47.00 54.00 2,494 O
21-Apr-23 08:42:33 53.65 920 Buy* 47.00 54.00 493.58 O
21-Apr-23 08:40:22 52.00 1,000 Buy* 47.00 52.00 520.00 O


So word about this (currently) little known opportunity seems to be spreading.

It certainly looks to be a good time to buy, with NWT's current year ending in just a week, and a strong H2 expected.

And with NWT poised at its 1.5 year closing high of 55p (consolidation-adjusted), it shouldn't take much buying to push on up into the 60s.

In fact, just one more day like today could be all that it takes.

[hedgehog 100] 21/4/2023 15:13

While Grosvenor Technology's Asure software partner is another large US-listed multibagger.

Asure Software (NASDAQ:ASUR) has a market cap. of about US$300 million, at c. US$15/share, despite making a loss last year of US15.31M. on turnover of US$95.83M.


And it's c. fifteen-bagged from its lows early last decade, including c. trebling within about the last six months.

Asure Software (NASDAQ:ASUR):-




"Financial stability & strength

We have a small to mid-sized customer focus but the strength and stability of a large publicly-traded company. That means you can feel 100% confident your payroll is secure and employee data is safe because we’re held to the highest standards for financial transparency, process controls, and secure technology.

500+
ASURE EMPLOYEES

100,000+
CLIENTS

1,700,000+
CLIENT'S EMPLOYEES

Helping companies everywhere to grow

With headquarters in Austin, TX and offices throughout the US, we provide HCM software and services in every state and territory. You get big company strength with the feel of local support."

[hedgehog 100] 21/4/2023 13:22

Grosvenor Technology's MHR software partner meanwhile is another leader.

And the 'Meet Our Partners' page on MHR's website lists Grosvenor Technology alongside such global titans as IBM, Microsoft, and SAP:-



MHR is also a British company which in recent years has been expanding into the USA, which looks to dovetail perfectly with GT's own expansion 'across the pond'.

Some extracts from MHR's Wikipedia page:-

"MHR (formerly MidlandHR) is a provider of software and outsourcing services for HR, talent management, payroll and business intelligence."
"As of July 2022, MHR employed more than 750 staff."
"In March 2016, MidlandHR re-branded and changed its name to MHR, as part of its expansion into the US market.
In August 2021, MHR was ranked as one of the top 10 payroll services providers by Payroll Index."



MHR's partners page includes a section entitled "Our latest activity with partners", which features a series of three articles on this subject.

And in the most recent of these two articles, Grosvenor Technology is the only MHR partner mentioned:-

"19 April 2022
The benefits of effective workforce management
... Grosvenor Technology provides several time tracking solutions, with varying levels of functionality and complexity. ..."


"7 March 2022
The business value of workforce management
... and consider our partner, Grosvenor Technology, who offer a range of HCM terminals to support and maximise the business value achieved through your workforce management solution."



MHR's website even includes a specific page on Grosvenor Technology's terminals:-



And Grosvenor Technology also features in this MHR website article:-

"15 July 2021
3, 2, 1... signed in. How integrated clocking systems improve your internal culture
... Our partnership between iTrent and Grosvenor Technology clocks enables businesses to create a positive company culture, focusing on giving your employees work/life balance and your payroll teams streamlined payroll processes. ..."



MHR has an extraordinarily impressive customer retention rate, which obviously reflects very highly on the quality of GT's products and services:-

"21 January 2022
... At MHR we're heavily focused on innovation and delivering systems that meet the needs of customers now and in the future. With a 98% customer retention rate it's probably fair to say we're getting it right ..."

[hedgehog 100] 20/4/2023 13:44

From the website of Grosvenor Technology's WorkForce Software partner:-

"The Next Generation of Workforce Management for Employees of Every Generation
We help our customers create employee experiences that unlock new potential for innovation, resilience, and better performance."



And from the website of Grosvenor Technology's Attendance on Demand software partner:-

"About Us
Attendance on Demand employees are driven to innovate, deliver, and support the highest-quality workforce management technology solutions. Consistently ahead of the market, our automated, human-centered products intelligently solve workforce planning challenges and integrate with the best payroll and HCM platforms."



Interestingly, Attendance on Demand lists GT's GT8 & GT10 time clocks as the first two of the six it lists, and identifies them as the only two with facial recognition technology:-


"GT Series
The GT Series is designed to streamline and simplify employee engagement, empowering a business to effortlessly improve workforce efficiency."