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StatPro Group (SOG)

Business description

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

Stock data

Market cap.£70.7m
Last close107.50p
High / Low (52 weeks)186.5p / 105.0p
Stock market listingLN
Forecast net debt (£m)22.3
Forecast gearing ratio (%)85
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(16.3)(22.4)(27.6)
Relative *(12.9)(15.1)(19.5)

* % Relative to local index

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Company news

StatPro says major fund administrator to migrate to StatPro Revolution; shares ...

Mon, 14 May 2018 12:00:00 GMT

StatPro in unique position after 'transformational' Delta acquisition

Wed, 14 Mar 2018 13:12:14 GMT

StatPro benefiting from Delta belter

Mon, 19 Feb 2018 15:01:47 GMT

StatPro finished 2017 strongly and is confident of further progress in 2018

Thu, 25 Jan 2018 08:47:31 GMT

StatPro showing sure touch in acquisitions policy

Wed, 02 Aug 2017 12:19:25 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 37.5 5.1 2.7 3.3 32.6 9.4
2017A 49.3 6.8 3.3 5.8 18.5 6.5
2018E 56.8 8.7 5.0 7.0 15.4 4.8
2019E 59.5 9.5 6.2 8.0 13.4 4.5

Last updated on 22/11/2018

Investment summary

StatPro took a decade to develop its cloud platform and all the key components, including a new divisional structure, are now in place for growth. The group’s broadened managed service offering is well placed to benefit from outsourcing trends in the asset management industry and we believe this offering will be a key component to growth. In addition, margins stand to benefit from the group’s increasing scale and costs dropping out as the group’s software platforms are streamlined. In our view, the shares look increasingly attractive, given the group’s £55m recurring revenue book and the much reduced rating (c 15x FY19e), especially in light of the active M&A backdrop in financial software.

Last updated on 30/11/2018

Industry outlook

StatPro's products are targeted at the global wealth management industry. The outlook for fund managers has been showing improvements. PwC estimated global AuM were $84.9tn in 2016 and is expected to rise to $145.4tn in 2025 (6.2% CAGR). Asset managers have a reputation for being slow to adopt digital technology, but StatPro believes this is now changing. It says that many clients are transforming their technology and the middle office, where StatPro is strong, is part of this process. StatPro is the first cloud-based analytics platform targeting the sector and is therefore well-placed to address the market.

Last updated on 29/11/2018

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
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