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@jlovie - not sure why the short positions had that red circle, no updates since Dec 11th, best to check with shorttracker.co.uk as that’s usually more comprehensive.
Price resistance at 1165, peak of 28/12/23 and large measuring price bar , high of 1174. The measuring bar is important, due to heaviest volume day for 3 months. Basically the sp, requires to close above 1165, and 1174, at some point , to confirm that the path of least resistance , is upward. In meantime positive scenario if sp, can remain above 1100, with higher lows.
Chart symmetry analysis, suggests sp, target of 1225, by approximately 6/2/24, or slightly later. DYOR.
Does anyone know how the notification of short positions works on this LSE site?
e.g. today I see a 1 circled on the Short Positions for Kainos, but clicking it doesn't show any change of shorts, last change shows as 11th Dec.
...good to see the shares playing catch-up this week, one of the few UK listed companies that compete with the large US/Global players, WorkDay recurring revenues are growing thick and fast too, roughly twice the growth rate of the core govt contract business, what's not to like? GLG are short about £10m, not for long one speculates...
There doesn't appear to be too much market love still for Kainos. They've pretty much pitched themselves as the go-to player for mid size digitial public sector deals. Maybe people await the impact of the new CEO?
Looking at peer company Endava, it seems the market is starting to price a recovery in H2 earnings and given how these companies track each other in so many ways, one wonders if Kainos is putting in a base here from which to build a recovery. I see Investec and Stifel have both published research notes this morning, the first with a price target of 1800p and the second at 1364p. Interesting to see GLG Partners have recently taken a short position, seems rather late given the price over the last 12 months but hey, what do I know?
I am looking at opening a new position here, having last owned it back in 2019-21.
Any thoughts from the floor?
Bought at 10p lower to you and sold at just over £10, not a bad trade at all for 24hrs!
Closed at 1004p for a quick 10% profit in one day.
Will reenter in future
Cheers
Barcap
Yes this company is well run but its paying out serious money in wages.
Interim dividend today is 0.89% ... why anyone would want to hold this is beyond me. Its about 33% down in a year. There is neither organic equity now a dividend return, so whys it a hold? I may consider buying back in if it returns to around £5 or £6 but cash needs to start being given back to shareholders and perhaps redundancies are needed here.
This company hasn't fallen anywhere near what it should have.
After the bad news. I would say just over £8.00 a share would be a fair price now, due to its P/E ratio.
Long term this is a very well run company.
A good opportunity to buy them cheap.
Cheers
Barcap
I'm expecting director buys..
Management must be having kittens, seeing at the the drop today:(
Broke £10 support. May continue its fall down towards £5 - £6 if it closes below the support.
I will not buy at the moment until £10 level is cleared.
Otherwise it'll be just a matter of time before it hits £5.
I obviously chose the wrong time to buy- story of my life :)
To support the multiple it needs earnings growth and
at least for now that appears to be absent.
I've been in and out of this share for years and it has done very well, in terms of SP and company performance. However, the SP peaked about 2 years ago at about £20. From the bottom of June 2022 it rose again to about £16 and has been declining since then.
Today's drop seems excessive and mostly based on the Health division caution. The PE ratio shows as 28 on this site, so still pretty high but I think it always has been. The SP now looks good value to me and dividend cover is quite healthy. I think I will be buying back in today.
Having read the report a fall of this nature is a complete mystery to me. What was the market expecting? Miracles?
I have bought into Kainos this am for the first time.
Did you buy in today?
Drop seems overdone, can't see anything that bad in results on a quick look - am I missing something?
This is becoming a very VARY bad trade, all it seems to want to do is go in one direction - the WRONG direction:(
Not sure if this is true but there is talk of an approach here, anyone else heard anything within the sector?
You are not comparing like with like here. 16.1p was the final divided for FY2022 payable 20 Oct. 2022, an increase of 6.6% over the final dividend for FY2021 of 15.1p, payable 28 Oct. 2021. The interim dividend for FY2023 payable 16 Dec 2022 of 7.8p increased 9.9% over the interim dividend for FY022 of 7.1p payable 24 Dec 2021. The dividend has not more or less doubled.
Yes; great company with good prospects