Capgemini SE

Capgemini is a consulting and IT services provider. Co. works closely with technology partners at the cutting edge of innovation in major trends such as: Cloud, Big Data and mobility. Co. offers its clients skills in a variety of fields, such as digital transformation and digital customer experience, Cloud, Big Data, mobility, testing, cyber security, application management. In addition, Co. helps its clients enhance their performance and sharpen their competitive edge by offering them a range of skills grouped around four major businesses: Consulting Services through Capgemini Consulting, Technology Services (TS), Local Professional Services through Sogeti, and X Outsourcing Services (OS).
  • TickerCAP
  • ISINFR0000125338
  • ExchangeEuronext Paris
  • SectorSoftware & Computer Services
  • CountryFrance
Matthieu Lavillunière ...
  • Maxime Dubreil
  • Thibault Morel

INVEST SECURITIES - CAPGEMINI : Impact de la crise très bien amorti à ce stade - VENTE, OC 89€ (vs 74€)

Charles Lepetitpas ...
  • Nicolas David

Capgemini : H1 preliminary results slightly better than expected … thanks to Altran

>Negative organic growth of -7.7% in Q2. Positive surprise from Altran - Capgemini decided to pre-announce the main figures for its H1 2020 earnings due to the exceptional nature of the health crisis, whereas the group had been due to report its results later than usual as a result of internal processes at Altran. Q2 organic growth came in at -7.7% y-o-y (pro-forma including Altran), in line with our expectations (-8.0%) and a little higher than consensus foreca...

Charles Lepetitpas ...
  • Nicolas David

Capgemini : Résultats préliminaires S1 légèrement supérieurs aux attentes…grâce à Altran

>Décroissance org. de -7.7% au T2. Altran surprend positivement - Capgemini a décidé de préannoncer les principaux éléments de ses résultats S1 2020 en raison du contexte exceptionnel de crise sanitaire et alors que le groupe devait publier ses résultats plus tardivement que d’habitude à cause des process internes d’Altran. La croissance org. du T2 ressort à -7.7% y/y (pro forma incluant Altran), en ligne avec nos attentes (-8.0%) et légèrement supérieure aux att...

Jérôme VINERIER

Short term view - CAP GEMINI SA : Overbought stochastics

The trend is bearish. The recovery is a consolidation. Stochastics are at the overbought level. The fall can soon resume toward €96.31. The background trend would be questioned should prices rise above €113.60.

Jérôme VINERIER

Analyse court terme - CAP GEMINI SA : Stochastiques en zone de surachat.

La tendance est baissière. La reprise est une consolidation. Les Stochastiques sont en zone de surachat. La baisse peut bientôt reprendre vers 96,31 €. La tendance de fond serait remise en cause en cas de franchissement de 113,60 €.

Jérôme VINERIER

Short term view - CAP GEMINI SA : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €107.50. The next target is at €96.31, then €93.55. Passing €113.60 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - CAP GEMINI SA : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 107,50 € prochainement. Le prochain objectif est à 96,31 €, puis 93,55 €. Le franchissement de 113,60 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Medium term view - CAP GEMINI SA : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €93.94. A break below €93.94 would challenge the trend.

Matthieu Lavillunière ...
  • Maxime Dubreil
  • Thibault Morel

INVEST SECURITIES - CAPGEMINI : Impact de la crise très bien amorti à ce stade - VENTE, OC 89€ (vs 74€)

Charles Lepetitpas ...
  • Nicolas David

Capgemini : H1 preliminary results slightly better than expected … thanks to Altran

>Negative organic growth of -7.7% in Q2. Positive surprise from Altran - Capgemini decided to pre-announce the main figures for its H1 2020 earnings due to the exceptional nature of the health crisis, whereas the group had been due to report its results later than usual as a result of internal processes at Altran. Q2 organic growth came in at -7.7% y-o-y (pro-forma including Altran), in line with our expectations (-8.0%) and a little higher than consensus foreca...

Charles Lepetitpas ...
  • Nicolas David

Capgemini : Résultats préliminaires S1 légèrement supérieurs aux attentes…grâce à Altran

>Décroissance org. de -7.7% au T2. Altran surprend positivement - Capgemini a décidé de préannoncer les principaux éléments de ses résultats S1 2020 en raison du contexte exceptionnel de crise sanitaire et alors que le groupe devait publier ses résultats plus tardivement que d’habitude à cause des process internes d’Altran. La croissance org. du T2 ressort à -7.7% y/y (pro forma incluant Altran), en ligne avec nos attentes (-8.0%) et légèrement supérieure aux att...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2020

We are initiating coverage of Phoenix with a Buy recommendation and a target price of 775 pence. Phoenix Group is the UK’s leading life and pension consolidator and is poised to finalise the acquisition of its main competitor, ReAssure, in the coming weeks. It boasts rigorous management of its capital, with significant cash generation and an attractive shareholder return. Cf. company report published today. - ...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/07/2020

Nous initions la couverture de Phoenix avec une recommandation à l’Achat et un objectif de cours de 775 pence. Phoenix Group est le leader de la consolidation de portefeuilles d’assurance vie au Royaume-Uni et doit finaliser l’acquisition de son principal concurrent ReAssure dans les prochaines semaines. Il a une gestion rigoureuse de son capital avec une génération importante de cash-flow et un rendement attractif pour les actionnaires. Cf. étude publiée hier soir. - ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 15/10/2019 - Saint-Gobain - FR

Saint-Gobain (Achat) : Continue la cession des activités de distribution aux particuliers Portugal : Envisage de réduire le niveau de l’endettement en dessous de 100% d’ici 2023 Banques néerlandaises : Devront afficher €3mds de fonds propres supplémentaires Arkema (Achat) : Projette de céder son activité Polyoléfines Fonctionnelles pour €335m Capgemini : L'AMF valide le projet d'OPA sur Altran Wendel (Achat) : Accord sur l’acquisition de CPI pour $910m Matalan – S1-19/20 : Résultat opérationnel de £35m (+9,3%)

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/29/2020

With the support of our economists, we have drawn up growth profiles for four types of recovery: v, V, U and L/W. We note that: 1/ the market has eliminated the weakest scenarios (U and L) to focus on the most dynamic ones (v, V). Only the v profile results in 2021e earnings that are higher than in 2019 (Stoxx 600 at 406 points in December 2020). Without going as far as a v scenario, the market is easily playing a V-recovery. This is consistent with a drop of 3% in global growth in 2...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Olfa Taamallah
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/04/2020

Nous nous sommes appuyés sur nos économistes pour dessiner les profils de croissance pour 4 types de reprise: v, V, U, L/W. Nous constatons que 1/ le marché a éliminé les scénarios faibles (U et L) pour se concentrer sur les plus dynamiques (v, V). Seul le profil en v se traduit par des résultats 2021e supérieurs à ceux de 2019 (Stoxx 600 à 406 pt en décembre 2020). Ainsi, sans acter un scénario en v le marché fait plus que jouer une reprise en V. Ce pari est compatible avec celui d’u...

Benoit Valleaux ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/16/2020

We held our fourth ODDO BHF TMT Forum in Paris. Clearly, much of the discussion, but not all of it, centred on the impact of COVID-19 for the companies represented and their sector. In an unprecedented context, we have decided to write factual feedback documents. All our scenarios will be reviewed sector by sector in separate notes in the coming days. Cf. Report published today. - ...

CAPGEMINI increases its risk exposure and slightly lowers to Neutral

CAPGEMINI (FR), a company active in the Computer Services industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 3 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date July 24, 2020, the closing price was EUR 104.00 and its expected value was estimated at EUR 99.71.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Capgemini – AGM 20 May 2020

At the end of this Meeting, Paul Hermelin, Chairman and CEO, will leave the position of CEO to Aiman Ezzat, hitherto Deputy CEO, while he will retain the position of Chairman of the Board. ECGS welcomes this separation of functions. ITEM 11: The Companyns transparency on the tasks that will be entrusted to Mr Hermelin as part of the transition is very appreciable and provides a clear understanding of his role over the next two years. However, as the remuneration for these special assignments goes beyond the mere role of director or Chairman of the Board, these remunerated assignments should h...

Jehanne Leroy

Capgemini - Assemblée générale des actionnaires du 20 mai 2020

Gouvernance : A l'issue de la présente assemblée, Paul Hermelin, Président Directeur Général, laissera la fonction de Directeur Général à Aiman Ezzat, jusqu'ici Directeur général délégué, tandis qu'il conservera la fonction de Président du Conseil. Proxinvest accueille favorablement cette séparation des fonctions. Rémunérations :La transparence de la société sur les missions qui seront confiées à M. Hermelin dans le cadre de la transition est très appréciable et permet de bien comprendre quel sera son rôle pendant 2 ans. Cependant, la rémunération relative à ces missions spéciales allant au-d...

Capgemini - Assemblée générale des actionnaires du 23 mai 2019

GOUVERNANCE Le conseil d'administration comptera un administrateur supplémentaire et passera de 13 à 14 membres. Deux nominations sont proposées et seront soutenues car les candidates sont libres de conflits d'intérêts potentiels (résolutions 10 et 11). REMUNERATION La transparence de la société relève très clairement des meilleures pratiques du CAC 40. Cependant, les montants totaux de la rémunération du Président-Directeur Général sont excessifs, excédant notre plafond socialement responsable, notamment en raison d'une rémunération fixe très élevée. Il devrait en être de même en 2019 en r...

Expert Corporate Governance Service (ECGS)

Capgemini - AGM and EGM 23 May 2019

The Board of Directors will have one additional director and will increase from 13 to 14 members. Two nominations are proposed and will be supported as the candidates are independent (resolutions 10 and 11). The company's disclosure is in line with the CAC 40's best practices. However, the total amounts of the Chairman and CEO's compensation are excessive, exceeding our limit, due in particular to a very high fixed compensation. There are no changes in the compensation policy for 2019. Therefore, we recommend to oppose to resolutions 5 and 8. The compensation of the two Deputy CEO - one of w...

Capgemini – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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