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Prices & Quotes - UK Markets - IDOX (IDOX)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 74.80p
Change Today:
1.00p
Market Cap:
333.11m
Sector:
Software & Computer Services

Canaccord upgrades Idox to 'buy'

By Iain Gilbert

Date: Thursday 17 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity upgraded software firm Idox from 'hold' to 'buy' on Thursday due to "significant news flow" coming from the group over the last two months.
Canaccord stated that over the last two months, it had adjusted its full-year 2022 adjusted earnings per share estimates from 2.8p to 2.6p due to corporate activity and underlying growth.

The Canadian bank said that while the initial downward pressure appeared to be due to the disposal of its compliance division, more importantly, subsequent upward pressure was due to the continuing evolution of Idox into a pure-play software business.

While Canaccord moved its adjusted earnings per share forecast to 2.3p following the disposal, it changed pace and upgraded them by 13% due to its acquisition of Aligned Assets earlier in June.

"Therefore, we increase our target price to 70.0p (from 68.0p), mindful of a more focused group structure, and attach close to a Dec 22 UK IT sector average PE multiple to value the shares (we apply a c.5% discount)," said the analysts.

"We believe a 5-10% discount is appropriate given Idox's mix of only 5% top-line growth on our forecasts vs the sector at around 9% but much better margins, at over 20% vs 13%, and cash flow yield, at over 4% vs the sector at under 3%."

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IDOX Market Data

Currency UK Pounds
Price 74.80p
Change Today 1.00p
52 Week High 77.00p
52 Week Low 45.55p
Volume 68,657
Shares Issued 445.34m
Market Cap 333.11m

Performance Indicators

Compare performance with the sector and the market.

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Operating Margin
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What The Brokers Say

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

IDOX Dividends

  Latest Previous
  Final Final
Ex-Div 25-Mar-21 29-Mar-18
Paid 09-Apr-21 20-Apr-18
Amount 0.30p 0.66p

Trades for 17-Sep-2021

Time Volume / Share Price
13:34 53,250 @ 74.60p
14:03 984 @ 74.50p
11:25 132 @ 74.80p
11:25 3,043 @ 73.40p
11:25 5,000 @ 73.39p

IDOX Key Personnel

CEO David Meaden
CFO Rob Grubb