TEMENOS: Raising our forecasts after the closing of the Kony acquisition | BUY | CHF198 vs. CHF194 (+21%)
TEMENOS - BUY | CHF198 vs. CHF194 (+21%)Raising our forecasts after the closing of the Kony acquisition
Temenos closed the Kony acquisition slightly ahead of schedule
Kony provides Temenos with a true digital banking platform
We raise our adj. EPS estimate by 4% for 2021
We raise our Fair Value to CHF198 from CHF194
Temenos is engaged in the development, marketing and sale of banking software systems. Co. is also involved in supporting the implementation of the systems at various client locations around the world as well as in offering help desk support services to existing users of TEMENOS software systems. Co.'s client base consists of banking and other financial services institutions. Co.'s segments include: Product, which is engaged in marketing, licensing and maintaining Co.'s software solutions, including software development fees for requested functionality, as well as providing hosting arrangements; and Services, which represents various implementation services such as consulting and training.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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