Aptitude Software Group (APTD)

Sector:

IT Services

Index:

FTSE Small Cap

360.00p
   
  • Change Today:
    -13.00p
  • 52 Week High: 388.00p
  • 52 Week Low: 230.00p
  • Currency: UK Pounds
  • Shares Issued: 56.95m
  • Volume: 5,201
  • Market Cap: £205.00m
  • RiskGrade: 197

Canaccord Genuity cuts target price on Aptitude Software

By Iain Gilbert

Date: Tuesday 15 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity cut their target price on software firm Aptitude Software from 845.0p to 670.0p on Tuesday due to reduced margin forecasts and lower multiples amongst its listed peers.
Canaccord, which reiterated its 'buy' rating on the stock, said Aptitude's full-year results were broadly in line with its model, with sales of £59.3m as expected, while adjusted underlying earnings of £10.5m were slightly below forecasts. It also noted that £10.0m in free cash flow had equalled an "impressive" 95% conversion.

Organic software growth, excluding the recently acquired MPP, was 15%, with contractually recurring revenues now constituting 62% of total revenues, something the analysts expect to further increase as the new business is consolidated in 2022.

However, the Canadian bank noted that Aptitude's UK and global finance automation enterprise software peers had "materially de-rated over the last months" on the back of recent sell-offs in the technology sector and the wider market.

"Reflecting today's forecast changes puts the shares on an attractive 2.5x 2023E EV/sales, a circa 50% discount to peers. As a consequence of our reduced margin forecasts as well as lower multiples of listed peers we have lowered our target price from 845.0p to 670.0p based on a 5x 2023E EV/Sales multiple as well as the NPV of a 'return to normalised 20% margins' scenario in 2025," said Canaccord.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

APTD Market Data

Currency UK Pounds
Share Price 360.00p
Change Today -13.00p
% Change -3.49 %
52 Week High 388.00p
52 Week Low 230.00p
Volume 5,201
Shares Issued 56.95m
Market Cap £205.00m
RiskGrade 197

APTD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.56% below the market average98.56% below the market average98.56% below the market average98.56% below the market average98.56% below the market average
85.54% below the sector average85.54% below the sector average85.54% below the sector average85.54% below the sector average85.54% below the sector average
Price Trend
55.97% above the market average55.97% above the market average55.97% above the market average55.97% above the market average55.97% above the market average
47.25% above the sector average47.25% above the sector average47.25% above the sector average47.25% above the sector average47.25% above the sector average
Income
91.11% below the market average91.11% below the market average91.11% below the market average91.11% below the market average91.11% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Growth
22.97% below the market average22.97% below the market average22.97% below the market average22.97% below the market average22.97% below the market average
44.58% below the sector average44.58% below the sector average44.58% below the sector average44.58% below the sector average44.58% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

APTD Dividends

  Latest Previous
  Final Interim
Ex-Div 23-May-24 03-Aug-23
Paid 14-Jun-24 25-Aug-23
Amount 3.60p 1.80p

Trades for 15-Jul-2024

Time Volume / Share Price
10:00 5 @ 378.10p
08:00 125 @ 381.00p
08:01 3,971 @ 369.16p
08:00 600 @ 365.00p
08:00 500 @ 360.00p

APTD Key Personnel

CFO Mike Johns
CEO Alex Curran

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