Share Name Share Symbol Market Type Share ISIN Share Description
Statpro LSE:SOG London Ordinary Share GB0006300213 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.28% 176.00p 175.00p 177.00p 176.50p 176.00p 176.50p 26,583 15:18:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 49.3 -3.4 -3.6 - 115.45

Statpro Share Discussion Threads

Showing 676 to 699 of 700 messages
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Stifel have raised their price target to 264p.
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Good results, but a P/E of 30 means further progress is needed to justify 285p. That's well within the realms of possibility, so I'm sellimg none ( paid 132p )
napoleon 14th
Panmure Gordon raised price target to 285p, two brokers updated so far and forecasts remain almost unchanged.
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Very glad to have got in at 125p.
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[...] StatPro benefiting from Delta belter The portfolio analytics platform operator has been shrewd in its acquisition policy and the purchase of Delta from UBS may just be the best acquisition yet StatPro Group PLC (LON:SOG) has long augmented organic growth with a series of bolt-on acquisitions, but the purchase of Delta could be the best yet. It's still early days for the acquisition in the spring of 2017 of Delta, the risk and performance analytics service it bought from UBS, but the signs are very good. "The acquisition and successful integration of Delta in May was the highlight of 2017. Delta has since increased sales and plans are in place to achieve functional parity for Delta within StatPro Revolution,” said Justin Wheatley, the group chief operating officer of StatPro. The acquisition gave StatPro “scale” and significantly enhanced its product capabilities, with the portfolio analytics platform operator working hard on migrating Delta's unique functionality onto StatPro Revolution's platform. With Delta joining the family, StatPro's analytics service will branch out from the middle office to the front office of asset managers. The acquisition followed the previous year's purchase of a 72.7% stake in South African software provider, Infovest Consulting Ltd. Infovest specialises in data warehousing and reporting software for the asset management industry, a sector in which StatPro also operates. 2016, meanwhile, saw the company acquire Investor Analytics (now known as Alpha), which will also beef up the group's flagship cloud platform, StatPro Revolution. Reaping rewards of early investment in the cloud The group's early switch to the cloud, which started taking place in the latter half of the previous decade before most of us had even heard of the term, looks to have been a very shrewd one. The cloud-based StatPro Revolution platform saw organic revenue growth of 16% in the first half of 2017, as the group as a whole reported a 2% organic rise in revenue. The group announced in a trading update that full-year revenues for 2017 are expected to be around £49.0mln, up 30% from £37.6mln the year before. Annualised recurring revenue (ARR) for the group as a whole rose by 39% on a constant currency basis to £53.0mln from £38.1mln the year before. ARR for StatPro Revolution rose 13% organically. Adjusted underlying earnings are expected to be roughly £6.9mln, up 35% from £51mlm the year before, when the audited figures are published. Net debt at the end of the year had doubled to £20.2mln from a year earlier as the company ploughed money into its acquisitions. The legacy StatPro Seven platform is still soldiering on, but software-as-a-service is clearly where it’s at. “This success is undoubtedly due to our early investment in cloud technology, over eight years ago. The complexity and scale of the technology we have developed will be difficult to imitate,” said Wheatley. “We are now firmly established as a leading innovator in the rapidly digitising asset management industry.” Research house Edison continues to see strong upside potential The research house said the 2017 trading update was broadly in line with its forecasts. It is forecasting revenue of £48.9mln for the year just ended and sales of £57.3mln in the current year. It expects profit before tax to surge to £4.2mln this year from its forecast £2.7mln in 2017. With the company investing for growth, Edison is not expecting the 2.9p annual dividend to be changed. Edison said that bearing in mind a number of takeovers in StatPro’s sector in 2017, the stock looks cheap. Key competitor BISAM was acquired by Factset for 7.3 times annual sales. On the same multiple, StatPro – currently capitalised at £168mln – would sell for around £342mln. “Separately, [the] LSE acquired Yield Book (a key competitor of Delta) along with Citi Fixed Income Indices from Citi for 6.4x sales, although we understand that the US$685mln price largely related to the indices. Additionally, SS&C is acquiring DST Systems at c 2.4x 2018 sales,” Edison noted. The stock does trade on a high earnings multiple, as befits a growth company. Based on Edison’s forecast of earnings per share of 4.9p for 2017 the stock is valued at a poky 37 times earnings but this falls to 25 in 2018 based on Edison’s forecast. “Our DCF [discounted cash flow] model, when incorporating 10-year organic revenue growth of 4.4%, terminal growth of 2%, a long-term margin target of 24.5% and a WACC [weighted average cost of capital] of 9%, would value the shares at 224p,” Edison said. At the time of writing, the shares were trading at 180.5p.
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It feels like this wants to go 200p+ and soon.
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I gather there's an article in FT but as I don't subscribe.......
bone apart
From Edison StatPro has released an in-line trading update for FY17. Annualised recurring revenue (ARR) for StatPro Revolution grew by 13% organically. Statutory revenues, EBITDA and cash were broadly in line with our forecasts and we are maintaining our FY18 forecasts. Given the busy M&A backdrop, which saw competitor BISAM sold for 7.3x sales earlier in the year, and the significant valuation disparity between StatPro and its US-listed financial software peers, we continue to see strong upside potential in the shares. FY17 revenue grew by 30% to c £49.0m (we forecast £48.9m) while EBITDA rose by 35% to £6.9m (we forecast £7.0m). Net debt finished the year at £20.2m, slightly above our £19.7m forecast. The annualised recurring revenue (ARR) for StatPro Revolution, the group’s cloud services analytics product, grew by 13% organically. The total cloud services ARR, which also includes Delta (acquired in May), jumped by 106%. The ARR for the group’s traditional Seven platform grew by 2%, after excluding the impact of conversions to the cloud platform. This reflects continued demand for the group’s composites product (for the aggregation of individual portfolios) and InfoVest (includes StatPro’s compliance solution). FY17 saw a number of transactions that make StatPro look cheap. Key competitor BISAM was acquired by FactSet for 7.3x sales. Separately, LSE acquired Yield Book (a key competitor of Delta) along with Citi Fixed Income Indices from Citi for 6.4x sales, although we understand that the $685m price largely related to the indices. Additionally, SS&C is acquiring DST Systems at c 2.4x 2018 sales. We have brought our end-FY17 net debt forecast in line with the update and this £0.5m increase impacts on subsequent years. Otherwise, we have maintained all our forecasts and will add FY19 forecasts after the results in mid-March. StatPro’s stock trades on c 30x our FY17e EPS, which falls to c 21x in FY18e. Alternatively, the shares trade on c 2.0x FY18e EV/sales, around one-third of the level of StatPro’s larger US peers and US-based pure SaaS companies. Our DCF model, when incorporating 10-year organic revenue growth of 4.4%, terminal growth of 2%, a long-term margin target of 24.5% and a WACC of 9%, would value the shares at 224p, 51% above the current share price.
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I did say...
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Break out chaps perhaps 163p+ coming soon.
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Caym on you slag! Liven up or I'll boot yer hole!
Nice to see this rarely discussed share doing well
Solid trading
Hope we get a run-down of today's Capital Day, in whatever form. I'm happy to hold the shares.
napoleon 14th
You've also had consolidation of the asset management industry. The trend to outsource and most importantly competition. Bisam, factset, Blackrock etc.So they have had to buy revenue.
When Statpro decided to redevelop their systems to fully cloud based systems, they also decided to stop selling their previous flagship product (Statpro 7). Recurring revenue and early sales and conversions to Revolution kept revenue flat, which was actually a great result give that you stopped selling your main product. The final bit of functionality to Revolution was only completed end of last year and we are now starting to see sales escalating. New sales as recently announced and conversions from Statpro 7 should result in renewed revenue growth. The acquisition of UBS Delta was a great opportunity and the price paid was well below real value in my opinion. It will take a few years to rewrite and update Delta's software, but the revenue and profit potential is substantial. Disclosure: I am not connected to the company but have been a shareholder for many years. I have also been adding to my holding over the last six months.
While it’s too soon to tell whether recent acquisition activity will succeed, there are legitimate concerns to be addressed about why StatPro’s sales stagnated for so long, and why it makes sense to kick-start growth via debt-fueled acquisition.
Nice trend....
napoleon 14th
Another contract.
Yes, agreed. Lots of adjustments on profit numbers (from a loss) and circa £20m of net current liabilities. They are struggling to afford the dividend and I'm surprised that they didn't raise some more equity for the well received acquisition. Pleased that I sold out a few weeks back and surprised by today's price increase. Could get nasty when reality strikes home!
The balance sheet of this company stinks. I feel they're due a correction.
mr macgregor
Very quiet after today's good news. PANMURE might well be right........
bone apart
Bought 15100 & 9977 shares yesterday at 125p, seems cheap looking into next year, perhaps because its listed on AIM doesnt help.
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napoleon 14th
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