StatPro Group (SOG)

Business description

StatPro Group provides cloud-based portfolio analytics solutions to the global investment community.

Stock data

Market cap.£77.7m
Last close120.00p
High / Low (52 weeks)132.5p / 81.5p
Stock market listingLN
Forecast net debt (£m)19.7
Forecast gearing ratio (%)64
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(7.7)37.948.2
Relative *(6.2)34.918.1

* % Relative to local index

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Company news

StatPro Group seals £11mln earnings enhancing UBS Delta acquisition

Fri, 07 Apr 2017 06:45:47 GMT

StatPro trading in line; pipeline for the remainder of the year remains solid

Mon, 22 May 2017 07:52:30 GMT

Broker hikes StatPro's target price following “excellent” acquisition

Tue, 11 Apr 2017 12:40:00 GMT

StatPro pleased with UBS Delta team as it hands over down payment on acquisition

Tue, 16 May 2017 06:31:11 GMT

StatPro client extends agreement in €3mln deal

Mon, 06 Mar 2017 07:28:26 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 30.2 4.0 2.6 2.6 46.2 12.4
2016A 37.5 5.1 2.7 3.5 34.3 10.5
2017E 48.9 7.0 4.2 5.0 24.0 6.7
2018E 57.3 8.9 6.1 7.2 16.7 5.4

Last updated on 22/05/2017

Investment summary

In an in-line AGM trading update, StatPro said that sales have progressed well and that the pipeline remains solid. We maintained all of our forecasts, but see scope for upgrades as the year progresses, unless sterling continues its recovery. In April, StatPro said that it was acquiring UBS Delta, a portfolio analysis and risk management system, at a valuation of less than 0.8x revenues. The valuation compared with the c 7.3x sales that FactSet recently paid for BISAM, a key competitor of StatPro. Following the acquisition of UBS Delta, c 81% of StatPro's annualised recurring software revenues now come from SaaS or cloud-based solutions. We continue to see strong upside potential in the shares, if StatPro can successfully integrate UBS Delta, given the significant valuation disparity between StatPro and its US-listed financial software peers.

Last updated on 01/06/2017

Industry outlook

StatPro's products are targeted at the global wealth management industry. The outlook for fund managers has been showing modest improvements with assets under management rising by 1% to $71.4trn in 2015, according to Boston Consulting Group. In addition, competitive, cost and regulatory pressures all require asset managers to maintain and upgrade their reporting and risk management systems.

Last updated on 01/06/2017

Key management

Justin Wheatley, CEO
Andrew Fabian , FD

Company address

StatPro House
81-87 Hartfield Road
Wimbledon
London
SW19 3TJ
United Kingdom
+44 (0)20 8410 9876
View website