Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

Börsenschluss:

Open
13.20
Prev Close
13.10
Bid
13.05 x 600
Ask
13.10 x 500
Day's Range
13.02 - 13.65
52wk Range
7.28 - 13.90
1y Target Est
15.00
Market Cap
487.79M
P/E Ratio (ttm)
-5.28
Beta
1.84
Volume
396,139
Avg Vol (3m)
106,627
Dividend & Yield
N/A (N/A)
Earnings Date
‎Nov‎ ‎3‎, ‎2016 - ‎Nov‎ ‎7‎, ‎2016  

Volume
510,524

Quelle: siehe letztes Posting

Motivationen für mich nicht durchschaubar  

und dafür eine Investition bei der Minderheitsbeteiligung Instamed im Höhe von 50 Millionen, die man anderen überließ, wäre mir lieber gewesen,

Und für 30 Millionen hätte man Aktien zurückkaufen können - und dann vermutlich unter Preisen zwischen 12 und 14 Dollar, die sie andererseits sicher wert sind.

Der CFO ist und bleibt eine Flasche wie schon immer in den letzten 10 Jahren.  

http://finance.yahoo.com/quote/ACTA/community?p=ACTA

auf das Posting

         •  Heinrich§
4 hours ago
QUESTIONS AND ANSWERS Operator (Operator Instructions) Kurt Maddern, Evercor ISI.

Und seht Euch vor allem die Repliesn an.


 

Big Question: Will the monetization of VelocityEHS start in 2017 or later?

VelocityEHS is the largest and fastest growing EHS software provider with a comprehensive cloud-based EHS management software platform

In 2015, two EHS industry SaaS software leaders, MSDSonline and KMI, joined forces and formed VelocityEHS, a new kind of software company that is making enterprise-level EHS management functionality accessible and affordable to businesses of all sizes. Today, VelocityEHS is the largest and fastest growing EHS software provider with a comprehensive cloud-based EHS management software platform that helps businesses solve complex EHS business challenges in simple ways

Velocity is ready for a 400 million-IPO in 2017 or a sale in 2016 or 2017

I believe, that revenues of 75 million in 2017 are realistic numbers. That are by 5-times-revenues, which are lower than by competitors, a valuation of 375 million.

Revenues of VelocityEHS in 2016 will reach about 60 million from organic growth and smaller aquisitions

"Revenue has increased about 35 percent annually in recent years and was more than $32 million in 2014, CEO Trout said. He declined to provide estimated 2015 revenue."
http://www.chicagobusiness.com/realestate/...ilitys-space-in-the-mart

And we know the growth-rate of revenues of 36% in 2015 from lfollowing presentation – and the result will be revenues of about 43.5 million in 2015. And by a growth-rate of 25% in 2016 = 55 million (without smaller aquisations) and together with the quisitions about 60 million.

The Year 2015 for VelocityEHS
• Revenue Growth: 36% for 2015 compared to 2014
• New Signings: Added 2,200 customers; More than 11,500 companies, representing over half of the Fortune 1000: Protecting more than 8 million employees in U.S. and Canada
• Pipeline: Growth is slightly ahead of revenue
• TAM: $3 billion
http://www.actua.com/wp-content/uploads/2016/06/...INAL-6-16-2016.pdf

Environmental, Health and Safety compliance platform that enables organizations to meet stringent  and costly OSHA requirements  Important Metrics:*
•  Revenue Growth: 23% in Q1 2016 compared to Q1 2015
http://www.actua.com/wp-content/uploads/2016/05/...des-FINALFINAL.pdf

Environmental, Health and Safety compliance platform that enables organizations to meet stringent  and costly OSHA requirements  Important Metrics:*
•  Revenue Growth: 21% in Q2 2016 compared to Q2 2015
http://www.actua.com/wp-content/uploads/2016/08/Q2-slides-Final.pdf

Environmental, Health and Safety compliance platform that enables organizations to meet stringent and costly OSHA requirements
Important Metrics:*
• Revenue Growth: 20% in Q3 2016 compared to Q3 2015
http://www.actua.com/wp-content/uploads/2016/11/...6-slides-FINAL.pdf
 

auf eine Mitschrift des Conference Call:

http://www.actua.com/wp-content/uploads/2016/11/...script_Q3_2016.pdf  

Velocity m,E. verkaufsreif entwickelt:

Q - Ted Lin

Got it, thank you. And then last one for me FolioDynamix and VelocityEHS are expected to be cash flow positive for 2016 and I think, looking ahead to 2017, are you expecting to be operating cash flow positive overall? Thanks.

A - Walter Buckley

Yes, I mean, we haven't specifically give up the guidance for '17. We are working on that, but we would continue to see those two businesses be operating cash flow positive, and we should be making continued improvement on the bottom line on a consolidated basis from an operating cash flow perspective.

http://www.actua.com/wp-content/uploads/2016/11/...script_Q3_2016.pdf
 

(Adresse siehe Posting #8231)

Q - Jeff Van Rhee

Got it. And then last, I think it's just Velocity, I mean it's just been a fantastic business, you know, shown great leverage, great growth, et cetera. You've obviously got some opportunities to do some cross-selling here with maybe bigger ASPs. How should we think about the new customer capture there? There have been new customer capture engine, it looks like maybe ASPs are ticking up, and customer accounts are ticking down a bit year-over-year, do you envision that business continuing to bang out sort of flattish kind of customer add? Should it decline, should it grow, any color there?

A - Walter Buckley

I think quarter-to-quarter it's hard. I mean, we really need to look at on annual basis. I think that in the near term, you know, flat on a quarter-to-quarter basis probably makes sense as in some of the GHS, tailwind goes away, but ASP should go up in total as we go from 12 to 35 platform sales and up from there. So we're excited about the e3 acquisition. Frankly it brings the whole environmental side of the equation, EHNF platform equation to Velocity, and at least 20%-25% of our customer base are our prime target. So I think for the near term I think flat customer base growth is a good way to think about it, but increasing ASP.

Q - Jeff Van Rhee

I know, jeez, and pilling on it at ever faster rate. Velocity just on e3, just refresh me what the impact of e3 was from a revenue base and what you paid for it?

A - Walter Buckley

Yes. It's very small from a revenue standpoint, less than 500,000 annually. The platform has just been completely revamped from a SaaS perspective, from a cloud perspective. So it's state-of-the-art technology with very small -- very small team, and we paid a low seven figure number for it.  

für den Wert von Velocity, da WOLTERS KLUWER den umsatz- und personalmäßig in etwa gleich großen Konkurrenten ENABLON:vor wenigen Monaten für 276 Millionen Dollar übernommen hat. Velocity dürfte umsatz- und personalmäßig geringfüfig hrößer sein.

TUESDAY, 31 MAY 2016.
WOLTERS KLUWER BUYS ENABLON: ANOTHER CORPORATE GIANT ENTERS INTO THE EH&S MARKET

On May 31, 2016 the Netherlands headquartered information solutions and services firm, Wolters Kluwer, announced a binding offer to purchase Enablon for €250 million ($278 million). Based on Enablon’s 2015 publicly disclosed revenues of €45 million Wolters Kluwer has paid 5.6 times revenues for one of the leading EH&S software providers. Verdantix estimates that Enablon has been operating at a 15% to 20% margin in the last 12 months and on this basis, the offer price reflects a valuation of between 28x and 37x EBITDA. Whilst this is a whopping multiple, Wolters Kluwer is a global player in the information solutions market with revenues of €4.2 billion in its last financial year and has the cash for acquisitions.
Enablon will be a business unit in the approximately €1 billion revenue Legal and Regulatory division of Wolters Kluwer. Reflecting the logic for the acquisition, Wolters Kluwer’s executives see Enablon as a growth engine for the division which is reflective of the fact that Enablon’s new parent company grew just 2% in constant currencies in the last quarter whilst in its disclosures as part of the deal, Enablon anticipates its total revenues will grow by 22% in 2016 compared to 2015, reaching €55 million. At the time of the acquisition Enablon had approximately 340 employees compared to 19,000 at Wolters Kluwer.

http://www.verdantix.com/blog/...te-giant-enters-into-the-eh-s-market
 

As of June 30, 2016 , VelocityEHS had 371 employees, of which 6 are part time.

http://icge.ir.edgar-online.com/...p;filename=ACTUA_CORP_10Q_20160805
 

Grenzen von Actua sichtbar:

Wenn die verbliebenen 109 Millionen aus dem Guidance (siehe zum Beispiel Adresse in 8232) mit 5 bewertet werden und noch einmal ca 150 Millionen freie Cash dazukommen liegen wir bei 700 Millionen, die durch 37 Millionen umlaufende Stücke geteilt ca. 18 Dollar pro Aktie ergeben.

Für mehr Fantasie brauchte es neue Fakten. Da ist zwar ganz ordentlich, aber doch von früheren Vorstellungen, als noch weniger festgezurrt war, noch entfernt.

 

habe, einen Fair Value von 18 ansetze, macht ein Rückkauf zwischen 12 und 14 Sinn - selbst wenn man das Höchstgebot von 14 bezahlen muss-

Denn 8o Millionen Dollar Einsatz zu 14 = 5,7 Millionen Aktien - die Zahl der umlaufenden Aktien würde sich also von 37 Millionen auf 31,3 Millionen reduzieren. Allerdings würden auch der Wert der Assets um 80 Millionen von 700 Millionen auf 620 Millionnen sinken. Dividiert man nun die 620 Millionen durch die verbliebenen 31,3 Millionen Aktien, kommt man auf einen Wert von 19,8.

Ich habe daher auch nicht vor, das den Amis auf dem Yahoo-Board aufs Brot zu schmieren.  

der vor wenige Wochen verkauft wurde, ist - aus welchen Gründen auch immer - trotz Einhaltung aller Formailien  auf dem dortigen actua-Board nicht platzierbar:

Regulatory division's strategy to expand its existing portfolio of legal and compliance software solutions.

Relied upon by more than 1,000 companies and 1 million users in 160 countries, Enablon offers an award-winning modular platform to manage enterprise-wide environmental, health and safety (EHS) compliance, improve sustainability and mitigate operational risks. The Enablon platform is used by major corporations worldwide, across a wide range of industries.
Enablon generated software and services revenues of approximately €45 million in 2015, of which approximately 57% was derived from North America, around 39% from Europe and the remainder from Asia Pacific and the rest of the world. The company has a positive operating margin, which currently reflects the impact of increased investment in R&D and sales and marketing to support revenue growth. Enablon's revenues are expected to grow organically to reach approximately €55 million in 2016, driven by product innovation and market expansion.

https://globenewswire.com/news-release/2016/05/31/...e-Solutions.html
 

- und zwar für die Laufzeit des Tenders von vier Wochen.  

Offer Account Management Solution for HD Vest Advisors

GlobeNewswire•November 7, 2016
Comment
BELLEVUE, Wash. and NEW YORK, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Blucora, Inc. (BCOR), a leading provider of technology-enabled financial solutions to consumers, small businesses and tax professionals, today announced a partnership with FolioDynamix, a leading provider of wealth management technology and advisory services. Through this relationship, HD Vest will leverage the FolioDynamix end-to-end technology solution as well as its suite of advisory tools to provide an easy-to-use cloud-based solution for HD Vest Advisors to manage the entire client lifecycle from proposal generation, to account opening and management, including trading and rebalancing, to reporting.
“An important implementation step around DOL is upgrading our advisory platform trading technology,” said Blucora President and Chief Executive Officer, John Clendening. “We have partnered with FolioDynamix as a leading provider to offer a new state-of-the-art platform that will give our Advisors in the field and our home-office portfolio managers the ability to more efficiently create and manage investment portfolios, efficiently trade more security types, and rebalance when appropriate. This is an important investment in our capabilities, and the new platform will provide our team with enhanced insight into client portfolios and the ability to better monitor for compliance with the DOL best interest standard.” Clendening added, “The advisory platform will also support the strong growth we continue to see in adoption of for-fee advisory solutions.”

http://finance.yahoo.com/news/...partner-offer-account-133000433.html
 

http://icge.ir.edgar-online.com/efxapi/EFX_dll/...epS&ID=11671402  

http://icge.ir.edgar-online.com/efxapi/EFX_dll/...cnS&ID=11671106  

Blucora, Inc. (BCOR) is a leading provider of technology-enabled financial solutions to consumers, small businesses and tax professionals. Our products and services in tax preparation and wealth management, through TaxAct and HD Vest, help consumers manage their financial lives. TaxAct is an affordable digital tax preparation solution for individuals, business owners and tax professionals. HD Vest Financial Services® supports an independent network of tax professionals who provide comprehensive financial services. For more information on Blucora or its businesses, please visit www.blucora.com.   

"Another key component of our business strategy, in addition to our multi-vertical domain expertise and effective and efficient research and development, is the leverage inherent in the recurring revenue generated by our cloud-based software delivery model. In part because our customers are required to make periodic payments to continue receiving access to our cloud-based products and services, we have established long-term relationships with our customers, many of which are governed by multi-year contracts that have historically high renewal rates.  The consistent revenue stream provided by our recurring revenue model, coupled with our relatively high gross margins, allow us to drive revenue growth more consistently over time through investment in lead generation, sales and marketing. In order to ensure that we are effectively leveraging our cloud-based model, we closely monitor and manage the revenue growth rates, along with the gross margins, number of customers and a variety of customer retention and sales efficiency metrics, at each of our businesses. Through the third quarter of 2016 :
                    §
• Bolt's revenue grew approximately 4% from the corresponding nine -month prior year period. During the nine months ended September 30, 2016 , Bolt served approximately 2,065 independent commercial and personal property and casualty insurance agent customers, a number of large commercial and personal property and casualty insurance carrier-agency customers, six customers who are non-traditional sellers of commercial and personal property and casualty insurance products and one state commercial and personal property and casualty insurance exchange customer;
                    §
• FolioDynamix’s revenue decreased approximately 7% from the corresponding nine -month prior year period. During the nine months ended September 30, 2016 , it served approximately 90 direct financial services organizations, such as brokerage firms, banks (trust and retail), large registered investment advisors (“RIAs”) and RIA networks and other fee-based managed account providers; and
                    §
• VelocityEHS’ revenue grew approximately 22% from the corresponding nine -month prior year period. During the nine months ended September 30, 2016 , VelocityEHS served around 12,000 customers; approximately 75% are platform customers, consisting of large and mid-market North American businesses in a wide variety of industries.

We also actively source and intend to selectively pursue acquisitions that would provide one or more of our businesses with critical mass, complementary cloud-based products and services to sell to existing customers, additional customers for existing cloud-based products and services, access to adjacent cloud computing markets, and/or technology that is a differentiator in the business’s vertical cloud computing market. For example, in January 2016, VelocityEHS acquired substantially all of the assets of ErgoAdvocate, a company that provides ergonomics assessment and training software; the acquisition allows VelocityEHS to provide a new offering to customers. "

http://icge.ir.edgar-online.com/...p;filename=ACTUA_CORP_10Q_20161107
 

offenbar noch niemand gemacht. Momentan werde ich mich aber hüten, die Amis schlau zu machen, denn die sollen erst einmal Aktien im Wert von 90 Millionen für möglichst nahe an 12 (von oben gesehen) Actua andienen.

entfernt.

Libuda: Wenn man, wie ich das im letzten Posting getan

06.11.16 16:29
#8237  
habe, einen Fair Value von 18 ansetze, macht ein Rückkauf zwischen 12 und 14 Sinn - selbst wenn man das Höchstgebot von 14 bezahlen muss-

Denn 8o Millionen Dollar Einsatz zu 14 = 5,7 Millionen Aktien - die Zahl der umlaufenden Aktien würde sich also von 37 Millionen auf 31,3 Millionen reduzieren. Allerdings würden auch der Wert der Assets um 80 Millionen von 700 Millionen auf 620 Millionnen sinken. Dividiert man nun die 620 Millionen durch die verbliebenen 31,3 Millionen Aktien, kommt man auf einen Wert von 19,8.

Ich habe daher auch nicht vor, das den Amis auf dem Yahoo-Board aufs Brot zu schmieren.  

Qaurtalsbericht diese Aussage. "„We expect annual GAAP revenue in the range of between $108.5 million and $109.5 million.“
http://www.actua.com/wp-content/uploads/2016/11/...script_Q3_2016.pdf

Denn nach der Abspaltung von Govdelivery hatte ich hier immer noch einen Wert über 110 Millionen erwartetm aber offensichtlich konnte die sehr gute Auftragslage, wie man sie in der oben genannten Quelle auch nachvollziehen kann, nicht so schnell in Umsätze umgewandett serden, wie man das znächst erhofft hatte.

Bei also angenommen 109 Millionen Jahresumsatz teilen sich die nach meinen Schätzungen wie folgt auf:

VelocityEHS = 56 Millionen

lFolidodanymix = 34 Millionen

Bolt = 19 Millionen


 

"A big step in the logical evolution of the environment, health, and safety (EHS) software market occurred when regulatory and legal information powerhouse, Wolters Kluwers announced that it will acquire EHS, risk and sustainability software vendor, Enablon.

The agreed-upon purchase price is €250 million. Wolters Kluwer LR now has an exclusivity period during which Enablon will conduct a work council consultation process in accordance with French legal requirements. The deal is expected to close in a matter of weeks."
 
http://blog.lnsresearch.com/...lifies-shift-in-ehs-software-landscape
 

Velocity-ergonomics product at  2016 National Ergonomics Conference

VelocityEHS Makes it Easier For Companies to Identify & Address Risk from Work-Related MSDs
CHICAGO, Nov. 08, 2016 (GLOBE NEWSWIRE) -- VelocityEHS, the leading global cloud environment, health, safety (EHS) and sustainability software provider, will highlight recent enhancements to its Ergonomics product at the 2016 National Ergonomics Conference & ErgoExpo in Las Vegas. Musculoskeletal disorders (MSDs) – including carpal tunnel syndrome, tendonitis, and other sprains and strains – are among the most common work-related injuries, costing employers billions of dollars annually. VelocityEHS Ergonomics gives employers an easy way to protect vulnerable employees and to claw back revenue that would otherwise be lost to workers-comp claims and decreased productivity.

Attendees of the 2016 National Ergonomics Conference & ErgoExpo are encouraged to visit the VelocityEHS booth (#105) where VelocityEHS Director of Ergonomics Gene Kay will be on-hand to discuss and demonstrate the new product updates. Since the start of the year, VelocityEHS has made more than 300 program improvements to its Ergonomics product, including significant data privacy and information security upgrades, dozens of system reliability and performance enhancements, and more instructional detail for system administrators.

http://finance.yahoo.com/news/...er-companies-identify-133000276.html
 

Sehr viel besser als für das Gesamjahr sieht es allerdings für das vierte Quartal 2016 aus: „For the fourth quarter of 2016 we expect GAAP revenue in the range of $28.5 million to $29.5.“

http://www.actua.com/wp-content/uploads/2016/11/...script_Q3_2016.pdf

Denn aus einer Umsatz-Run-Rate von 29 Millionen im vierten Quartal errechnet sich schon ein darauf basierender Jahresumsatz von 116 Millioonen.
 

denn das KGV von Actua dürfte nach dem Verkauf von Govdelivery bei 5 liegen.

Ich will damit nicht ausdrücken, dass es alle Jahre bei einem so niedrigen Wert liegt, den bei einem Inkubator macht die Ermittlung eines jährlichen KGV's nur wenig Sinn, sondern man muss auf den jährlichen Gewinn über längere Zeiträume abstellen - und da liegt nach meinen überschlägigen Schätzungen Acuta bei dem momentan immer noch niedrigen Kurs in  der Nähe von 10.


1erhart: Anscheinend hat

10.06.16 09:15
#7501  
ACTUA gar kein KGV

Zumindest kann der Märchenopa meine Frage nach zig Anfragen nicht beantworten.

Dafür kennt er das KGV von Hypoport als einziger ganz genau.

Denn niedrig 2stellig ist ja nur die 10 und sonst gar nichts.

Andere Frage: Was ist hoch zweistellig?