Traditional software momentum
StatPro has seen a revival of sales in its traditional software in recent weeks. In early September it announced a £1.5m+ 3.5 year StatPro Seven contract win with a US-based top 10 global asset manager. Today, the group’s Infovest unit has announced a £1.0m seven-year contract with a large North American asset manager. Meanwhile, StatPro is launching its Revolution Performance module later this month. We are maintaining our forecasts, but with the healthy contract momentum and weak sterling, we see an increasing upside risk for forecasts as the year progresses. With StatPro’s US-based fintech peers and SaaS companies trading on lofty multiples, we continue to believe there is significant upside 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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