StatPro Group - On target
In a short trading update, StatPro has said that trading is in line with expectations. The group recently signed a major cloud conversion contract with a top 10 global fund administrator. Such deals require significant commitment from the client and, once live, have the potential to be scaled up if the client takes additional licences to extend to its own client base. Given the ongoing busy M&A backdrop in financial software and the significant valuation disparity between StatPro and its US-listed financial software peers, we continue to see strong upside potential in the shares.Statpro Group is engaged in the development, marketing and distribution of software systems and the provision of cloud-based portfolio analysis and asset pricing services to the asset management industry.
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