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1.8m sold today by Mr Hellawell @ 630p off exchange. Presumably gone to a good home. Let's see what the market thinks tomorrow.
back to where it was pre-RNS. I am open-minded on which way it goes from here so just sold my top up...
Nearly back to reality....my suspicions that the drop was overcooked appears to have been more or less on the money...
Interesting post, especially the humble beginnings and the 50 profitable Q's... Surprised the SP is not double it's current level...
The Times Market Report today - "Softcat still leader of the gang Softcat, the Marlow-based provider of IT infrastructure, posted strong first-half revenue growth yesterday but its shares took a beating as it reported slimmer margins. They closed the day 13.2 per cent lower at 589p after it said that revenue grew 25 per cent to �473 million in the six months to January 31 but gross margins slipped from 16.2 to 15.8 per cent. One of Britain�s lesser-known success stories, Softcat began life as a mail-order software catalogue in the early 1990s. Today it is one of the largest fully fledged IT services providers in the UK, with a market capitalisation of more than �1 billion. It has reported 50 consecutive quarters of growth and its shares have risen by about 150 per cent since it floated on the London Stock Exchange in November 2015. In the four weeks before yesterday�s results the shares rose 18 per cent. Martin Hellawell, the outgoing chief executive, said the company was seeing strong demand from customers for IT upgrades as they embarked on complete digital ransformations. He added that the squeeze on margins reflected �strong growth in our lower-margin public sector partner business�, which accounts for 28 per cent of revenues."
The EMPIRE as well !!
After a mauling yesterday and early doors this morning there appears to be a bit of a fight back. How much momentum there is in this remains to be seen but positive all the same
Duggy, definitely a sign the drop is now offering a bit of value....
Omedoma...you may be right and the SP did make giant strides in recent days/weeks, with llitte or no substance other than the RNS a few weeks back indicating good numbers ...but would still be interested to hear your "justification" for the correction...
Still 0.9% and no new entries above the threshold.
some chunky after hrs buys though
This is a justified correction
I tried to get a quote to buy but unable to trade at the moment?
its not to long before its back over 600s
I see that CZ Capital have a short of 0.9% listed which has reduced since January and previous shorters of note have reduced below the reporting threshold or possibly closed out completely. It will be interesting to see if another has appeared or CZ have increased their position again. I will check on the FCA site later. The spreadsheet gets updated at about 5pm
Someone is having fun and making money out this today.
f15 - that explains why it's such a great company - for making great profits
Agree dodge. A great opportunity to buy. It's not a falling knife situation, just a short term correction.
Not one for getting in on a “falling knife” but just could not resist topping up at this level. Actually more than I should have but see it as a day or maybe 2 day trade for a bit of easy money.
High stakes, agree with it appearing to get ahead of itself for no apparent reason. Also agree there will be signicant buybacks sooner rather than later...
I think the price had just ran ahead of itself the last couple of months. Some profit taking caused the price to fall triggering a few stop losses which caused the price to fall further triggering more stop losses etc etc. When the fall is overdone it will rise again. Still a great company imho.
To say I am bemused would be an understatement. Not sure what the market was expecting but surely this “correction” is over cooked ?
Excellent interims. Only one or two slight negatives with mostly very positive. You may well be right that it is already factored in but if nothing else the pending divi will no doubt help the SP this morning. Although my personal expectations are for a fairly decent uplift throughout the day.
Powering ahead again today. Fingers crossed for good news tomorrow. Already in the price? Maybe but on the other hand, maybe not.
Powering ahead again today. Fingers crossed for good news tomorrow. Already in the price? Maybe but on the other hand, maybe not.