FTSE 250 movers: Fidessa may be overdoing the caution

Fidessa, the provider of multi-asset trading systems, took a battering in the morning session after a cautious trading statement."The statement is a repeat of the interims, highlighting ongoing issues amongst smaller clients," observed KBC Peel Hunt analyst Alex Jarvis. "We are yet to get a handle on when growth rates might return to 20%+, noting that margins may also normalise if the top line starts to accelerate," the broker added.Though Peel Hunt remains a fan of the stock over the long term it has switched from a "hold" recommendation to a more negative stance, rating the shares "a trading Sell, given recent price movements."Panmure Gordon also seemed to think there was nothing much new in the trading statement. "Fidessa trots out the well-worn market place concerns about the impact on the weak macroeconomic backdrop which is expected to curtail growth this year. However, investors will recall that its operating model means that there is no big Q4 [fourth quarter] hurdle to get through," the broker said.Panmure Gordon is tipping growth of 12% this year, and notes that "pessimists have 10% pencilled in." The broker thinks the pessimists might be wrong because "Fidessa has a track record of delivery ahead of market expectations and has a historic CAGR [compound annuak growth rate] of 30% since its 1997 IPO [flotation]." Like Peel Hunt, Panmure Gordon professes to "love the business" but it has demonstrated its enthusiasm by upping its price target for the stock from 1475p to 1594p.Though the market may have been disappointed with the decision by chief executive Keith Ludeman to step down as chief executive officer after a 15 year stint at the company, bus and train group Go-Ahead's trading update more than made up for it.KBC Peel Hunt described the performance for the first four months of the company's financial year as "certainly no worse than expectations," while the "lack of any near-term impact from the Comprehensive Spending Review (CSR) has given the shares a new lease of life."The company confirmed its sanguine position on the CSR, saying it "should have no direct impact on the group in the current financial year and at this stage we believe that we can manage any impact on our results in following years through a combination of further cost savings and recovery through fares, " it added.FTSE 250 - RisersPace (PIC) 212.30p +5.20%Go-Ahead Group (GOG) 1,325.00p +4.08%Dixons Retail (DXNS) 27.95p +3.29%CPP Group (CPP) 244.50p +3.16%Hansen Transmissions International NV (HSN) 41.17p +2.92%ITE Group (ITE) 194.20p +2.86%Synergy Health (SYR) 769.50p +2.81%Mcbride (MCB) 181.00p +2.43%Brit Insurance Holdings NV (BRE) 1,043.00p +2.15%JD Sports Fashion (JD.) 816.00p +2.00%FTSE 250 - FallersFidessa Group (FDSA) 1,600.00p -7.08%Cookson Group (CKSN) 565.00p -3.83%Punch Taverns (PUB) 73.50p -3.73%Regus (RGU) 82.95p -3.71%Afren (AFR) 129.90p -3.13%Charter International (CHTR) 771.50p -3.02%Rotork (ROR) 1,709.00p -2.95%Atkins (WS) (ATK) 769.50p -2.90%United Business Media Ltd. (UBM) 657.00p -2.88%Dunelm Group (DNLM) 491.40p -2.69%