Proactiveinvestors United Kingdom Micro Focus https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Micro Focus RSS feed en Thu, 23 May 2019 16:13:03 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Micro Focus trading in line ]]> https://www.proactiveinvestors.co.uk/companies/news/220400/micro-focus-trading-in-line-220400.html Legacy software specialist Micro Focus International PLC (LON:MCRO) traded in line with expectations in the six months to the end of April.

The group said the collection of what it calls “aged trade receivables” has continued in line with management expectations.

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— Micro Focus (@MicroFocus) May 15, 2019

Management continues to guide to a constant currency revenue range in respect of its continuing operations, for the full year to 31 October 2019, of minus 4% to minus 6%, compared to the 12 months ended 31 October 2018.

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Thu, 16 May 2019 08:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220400/micro-focus-trading-in-line-220400.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190516070002_14075804/ Thu, 16 May 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190516070002_14075804/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190501160846_14059922/ Wed, 01 May 2019 16:08:46 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190501160846_14059922/ <![CDATA[RNS press release - Results of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190429125350_14055699/ Mon, 29 Apr 2019 12:53:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190429125350_14055699/ <![CDATA[RNS press release - Update on Return of Value ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190425070007_14051006/ Thu, 25 Apr 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190425070007_14051006/ <![CDATA[News - Micro Focus has completed its recovery, says Barclays as it downgrades software giant ]]> https://www.proactiveinvestors.co.uk/companies/news/218500/micro-focus-has-completed-its-recovery-says-barclays-as-it-downgrades-software-giant-218500.html Barclays has been impressed by Micro Focus PLC’s (LON:MCRO) bounce back since its profit warning this time last year, but warned investors that the stock is now fairly valued.

Last March, the software group shocked the market when it parted ways with chief executive Chris Hsu after slashing its revenue guidance.

Shares plunged on the news and fell below 1,000p. But they have since recovered and are now trading at similar levels to before the profit warning.

READ: Micro Focus shares crash as it cuts revenue guidance, CEO resigns

“Ultimately, trading never deteriorated to the extent feared,” said Barclays in a note to clients.

“Micro Focus has made very significant progress since the warning and the business has stabilised. We are encouraged by the progress and anticipate ongoing positive momentum in earnings.

“However, while the stock still looks cheap on headline P/E, it has, in our view, reached fair value on an enterprise basis.”

The analysts concluded: “Despite increasing our price target to 2,000p due to the rerating of the market, we cannot find sufficient upside to maintain an ‘overweight’ rating. We therefore downgrade to ‘equal weight’.”

Micro Focus shares were down 0.3% to 1,939p in late-morning trading on Friday.

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Fri, 12 Apr 2019 11:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218500/micro-focus-has-completed-its-recovery-says-barclays-as-it-downgrades-software-giant-218500.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190405160005_14031344/ Fri, 05 Apr 2019 16:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190405160005_14031344/ <![CDATA[News - Citi chops ratings for blue-chip software firms Sage and Micro Focus, having adjusted targets ]]> https://www.proactiveinvestors.co.uk/companies/news/217964/citi-chops-ratings-for-blue-chip-software-firms-sage-and-micro-focus-having-adjusted-targets-217964.html Citi has cut its ratings for two UK blue-chip business software firms, Sage Group PLC (LON:SGE) and Micro Focus International PLC (LON:MCRO), having adjusted target prices on valuation grounds.

The US bank cut its stance on Micro Focus to ‘sell’ from ‘neutral’ while raising its target price to 1,700p from 1,230p as it believes the stock has run ahead of fundamentals.

READ: Micro Focus continues to expect moderation in revenue decline from continuing business in current year

In a note to clients, Citi analysts said that over the mid-term, they see downside risks to revenue forecasts and margins for Micro Focus relative to market expectations.

They added: "The multiple appears modestly higher now, despite a more tempered outlook for the top line, and incrementally diminished visibility around the EBITDA improvement target."

For Sage Group, Citi cut its rating to ‘neutral’ from ‘buy’ while raising its target price to 720p from 630p.

In late morning trading, Micro Focus shares were 3% lower at 2,005p, while Sage shares lost 1% at 710p on the FTSE 100 index.

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Thu, 04 Apr 2019 11:36:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217964/citi-chops-ratings-for-blue-chip-software-firms-sage-and-micro-focus-having-adjusted-targets-217964.html
<![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190402095734_14025335/ Tue, 02 Apr 2019 09:57:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190402095734_14025335/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401170028_14024291/ Mon, 01 Apr 2019 17:00:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401170028_14024291/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401115005_14023625/ Mon, 01 Apr 2019 11:50:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401115005_14023625/ <![CDATA[RNS press release - Posting of Circular and Notice of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401070006_14022457/ Mon, 01 Apr 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190401070006_14022457/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329160004_14022046/ Fri, 29 Mar 2019 16:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329160004_14022046/ <![CDATA[News - Micro Focus continues to expect moderation in revenue decline from continuing business in current year ]]> https://www.proactiveinvestors.co.uk/companies/news/217515/micro-focus-continues-to-expect-moderation-in-revenue-decline-from-continuing-business-in-current-year-217515.html Micro Focus International PLC (LON:MCRO) has said it continues to expect a moderation in the decline of its revenue from its continuing business in the current year.

In a brief statement ahead of its annual general meeting today, the FTSE 100-listed enterprise software company said its guidance continues to be for a revenue decline of between 4% and 6% for its MFPP business in the year ended 31 October 2019, compared to a 7.1% drop the year earlier.

READ: Micro Focus jumps on share buyback extension as it moves on from disruptive HPE integration

For the 12 months to 31 October 2018, Micro Focus reported a fall in revenue to US$3.68bn.

The company said it will release its results for the six months to 30 April 2019 on July 9.

In early morning trading, Micro Focus shares were 0.6% lower at 1,977p.

 

 

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Fri, 29 Mar 2019 09:42:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217515/micro-focus-continues-to-expect-moderation-in-revenue-decline-from-continuing-business-in-current-year-217515.html
<![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329070008_14020447/ Fri, 29 Mar 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329070008_14020447/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329070007_14020439/ Fri, 29 Mar 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190329070007_14020439/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190328070017_14018668/ Thu, 28 Mar 2019 07:00:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190328070017_14018668/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190327070005_14016913/ Wed, 27 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190327070005_14016913/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190326070009_14015132/ Tue, 26 Mar 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190326070009_14015132/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190325070012_14013408/ Mon, 25 Mar 2019 07:00:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190325070012_14013408/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190322070004_14011732/ Fri, 22 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190322070004_14011732/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190321070017_14010004/ Thu, 21 Mar 2019 07:00:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190321070017_14010004/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190320070009_14008307/ Wed, 20 Mar 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190320070009_14008307/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190319071855_14007104/ Tue, 19 Mar 2019 07:18:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190319071855_14007104/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190318173403_14006425/ Mon, 18 Mar 2019 17:34:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190318173403_14006425/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190318070004_14004976/ Mon, 18 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190318070004_14004976/ <![CDATA[RNS press release - Completion of sale of the SUSE Business ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190315154503_14004623/ Fri, 15 Mar 2019 15:45:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190315154503_14004623/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190315070004_14003219/ Fri, 15 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190315070004_14003219/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190314070010_14001519/ Thu, 14 Mar 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190314070010_14001519/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190313070004_13999805/ Wed, 13 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190313070004_13999805/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190312070010_13998117/ Tue, 12 Mar 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190312070010_13998117/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190311070005_13996420/ Mon, 11 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190311070005_13996420/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190308070003_13994805/ Fri, 08 Mar 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190308070003_13994805/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190307070023_13993164/ Thu, 07 Mar 2019 07:00:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190307070023_13993164/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190306070006_13991477/ Wed, 06 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190306070006_13991477/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190305070022_13989865/ Tue, 05 Mar 2019 07:00:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190305070022_13989865/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190304070005_13988195/ Mon, 04 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190304070005_13988195/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190301134911_13987633/ Fri, 01 Mar 2019 13:49:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190301134911_13987633/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190301070006_13986356/ Fri, 01 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190301070006_13986356/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228165817_13986059/ Thu, 28 Feb 2019 16:58:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228165817_13986059/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228151559_13985856/ Thu, 28 Feb 2019 15:15:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228151559_13985856/ <![CDATA[RNS press release - TR-1: Notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228115829_13985533/ Thu, 28 Feb 2019 11:58:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228115829_13985533/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228070027_13984479/ Thu, 28 Feb 2019 07:00:27 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190228070027_13984479/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190227070005_13982797/ Wed, 27 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190227070005_13982797/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190226070018_13981231/ Tue, 26 Feb 2019 07:00:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190226070018_13981231/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190225070004_13979531/ Mon, 25 Feb 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190225070004_13979531/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190222070438_13978088/ Fri, 22 Feb 2019 07:04:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190222070438_13978088/ <![CDATA[RNS press release - Annual Financial Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221100002_13977159/ Thu, 21 Feb 2019 10:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221100002_13977159/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221070101_13976538/ Thu, 21 Feb 2019 07:01:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221070101_13976538/ <![CDATA[RNS press release - Confirmation of Board Appointment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221070020_13976496/ Thu, 21 Feb 2019 07:00:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3346/LSE20190221070020_13976496/