reports
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 25-May-2022 / 13:42 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 24-May-2022 / 12:51 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 23-May-2022 / 11:36 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re: Ideagen Plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re: Ideagen Plc 19-May-2022 / 12:37 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 17-May-2022 / 12:41 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 16-May-2022 / 13:46 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Re Ideagen plc 13-May-2022 / 12:44 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund ...
Form 8.3 - Maitland Institutional Services Limited: Ideagen Plc
Maitland Institutional Services Limited (MISL) Form 8.3 - Maitland Institutional Services Limited: Ideagen Plc 20-Apr-2022 / 15:49 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1. KEY INFORMATION (a) Full name of discloser: MI Chelverton UK Equity Growth Fund (b...
Ideagen: 1 director sold
A director at Ideagen sold 200,000 shares at 285p and the significance rating of the trade was 87/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Clo...
- Paul Hill
H2 demand surge anticipated as US reopens
Today’s 2019 results were in line with our revised expectations - reporting adjusted EBITDA (post SBPs) of $370k (-$108k LY) on turnover up 14% LFL to £23.0m ($20.1m). Driven by strong top line growth from Medical (+21%, MIS) & Direct (+32%), together climbing 26% to $16.5m (72% of group). ClearStar also traded well up to February, although from mid-March onwards lockdowns began and corporate America shed millions of staff: leading to a loss of >30m jobs nationally. Equally the big 3 diagnos...
- Paul Hill
Deeply undervalued, high growth stock
Occasionally even professionals lament about ‘the one that got away’. However investing is a bit like surfing, ‘you don't need to catch all the big waves to still have a great time’. Luckily for investors, the ClearStar ship has not sailed yet, despite the shares (at 49p) trading at a 56% discount to our 115p/share valuation. This unjustified gap between price (ie what you pay) and value (what it is worth) is likely to close at some point. Especially as the firm continues to deliver new...
- Paul Hill
‘Disruptive’ US tech firm set for banner 2019
ClearStar is an Atlanta HQ’d tech firm that is disrupting the $4.0bn-$4.5bn employment & medical (MIS) screening sector. Here, we think its leading cloud hosted mobile/desktop solutions - including biometrics/facial recognition – could even eventually become the industry’s de facto standard. Replacing less efficient & more time-consuming background checks with much faster, IT-centric customer/user-friendly and fully automated applications. Encouragingly, this ‘competitive advantage’ i...
- Paul Hill
2 new contracts totalling >$1m of revenues
10 years on from the $600bn Lehman Bros bankruptcy and subsequent financial crisis, regulators have been busily cleaning up the industry in order to prevent it from ever happening again. The industry needs the best employee background checking solutions available, with news today of one such professional services firm opting to go with ClearStar. A landmark agreement for CLSU, since it is the first within this targeted vertical, and provides a beachhead into the global financial sector. Further...
- Paul Hill
Exciting new channel partner
Founded in 1995 and floated at 57p/share in July’14 (raising £8.8m gross), ClearStar (CLSU) is a pioneering technology provider to the c. $4 billion global job screening (60% of H1 sales) and drug/medical testing (40%) markets. Often the best ideas are the simplest. Take the humble employee ID and/or visitor card. There are probably 10s if not 100s of millions of these dished out globally each year to new recruits, temporary workers, contractors, visitors, etc. Not only costing a small fortun...
- Paul Hill
Doing all the right things consistently well
Elektron (EKT) is a specialist niche product OEM and B2B operational service provider, enjoying a wide economic moat. It runs 3 separate divisions, each targeting distinct markets, yet bound together by a single centre of engineering excellence located in Cambridge. For EKT - particularly in light of the difficult hand it was originally dealt – this morning’s ‘strong’ results are the culmination of years of hard work, and a reflection of the business’ resilience and quality. In terms o...
- Paul Hill
Valuation raised due to accelerating growth
Founded in 1995 and floated at 57p/share in July’14 (raising £8.8m gross), ClearStar (CLSU) is a pioneering technology provider to the c. $4 billion global job screening (60% of H1 sales) and drug/medical testing (40%) markets. Today’s H1’18 results appear very encouraging: sales climbed 10.8% to $9.9m ($8.9m LY) - representing their highest level ever for a 6 month period, with LFL growth being significantly faster than the broader market. Here, the standout performers were MIS (up +27%...
- Paul Hill
Upgrading forecasts again
Disruptive technology is turning the world upside down. Look anywhere from online retailing, autonomous vehicles and social media, to big data, augmented reality and artificial intelligence. Life is changing, and fast. Similarly we think Elektron’s Checkit service is set to transform the workplace, simplifying everyday tasks such as cleaning schools, monitoring food safety and testing patient blood samples, whilst simultaneously delivering substantial time/cost savings, along with improving cu...
VEEV VEEVA SYSTEMS INC CLASS A
NOW SERVICENOW INC.
LFUS LITTELFUSE INC.
INTU INTUIT INC.
EMR EMERSON ELECTRIC CO.
ADSK AUTODESK INC.
ACSO ACCESSO TECHNOLOGY GROUP
TIDE CRIMSON TIDE
CKT CHECKIT
IDEA IDEAGEN
PRSM BLUE PRISM GROUP PLC
KETL STRIX GROUP
ROR.L ROTORK PLC
RSW.L RENISHAW PLC
- Paul Hill
Record revenues and positive EBITDA
ClearStar (CLSU) is a leading technology provider to the multi $billion job screening (63% of $17.8m 2017 revenues, up 11% LFL) and drug/medical testing (H1’18 40%) markets. The firm, head-quartered in Atlanta Georgia (US), employs ~90 staff; and enjoys high retention rates of >90%, and excellent forward visibility reflecting the everyday, low-cost and often mandated nature of its products. Not only is the Dollar the world’s reserve currency, but also the US economy is on a roll. Aided by un...
- Paul Hill
'Strong' start to the year
There is nothing wrong with banking a few profits after a parabolic move, especially when a stock becomes disproportionately large within one’s portfolio. Yet for Elektron, based purely on the fundamentals, we believe this would be a mistake despite the stock’s >5-fold rise since the 2017 lows. Indeed, this morning the company said that Bulgin was continuing to experience buoyant demand, with YTD performance ahead of plan. Supported by a ‘record orderbook’, driving H1 expected sales up ...
NOW SERVICENOW INC.
WDAY WORKDAY INC. CLASS A
CRM SALESFORCE.COM INC.
ADSK AUTODESK INC.
ACSO ACCESSO TECHNOLOGY GROUP
TIDE CRIMSON TIDE
ASUR ASURE SOFTWARE INC
CKT CHECKIT
IDEA IDEAGEN
CRW CRANEWARE
PRSM BLUE PRISM GROUP PLC
KETL STRIX GROUP
ULTI THE ULTIMATE SOFTWARE GROUP
ROR.L INC.
RSW.L ROTORK PLC
RENISHAW PLC
- Paul Hill
Valuation rises to 95p/share
How do you decide which equities to buy? Many people rely on the ‘comfort of the crowd’. Preferring to follow what others do to steer them through the markets. Like passive index trackers, this is fine up to a point, say when investing in highly liquid FTSE100 companies. But what about microcaps, where daily trading volumes can be much thinner, and the ‘crowd’ may not exist? Here instead, active fund managers typically focus on the fundamentals and back their own judgement to guide decis...
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