London, United Kingdom (PressExposure) July 27, 2009 -- - Misys PLC develops, manages and licenses a variety of software products and solutions to customers in the financial services and healthcare industries. The companyâs business sectors consist of Banking, Treasury & Capital Markets (TCM), Healthcare and Central Services.
Last year Misys completed a merger with Allscripts Healthcare Solutions PLC in the US, creating Allscripts-Misys Healthcare Solutions Inc, of which Misys owns 56.7%. The newly integrated company is among the largest providers of electronic health records and practice management solutions in the US and has a client base of nearly one-third of the nationâs practising physicians. Allscripts-Misys is perfectly positioned to capitalise on the US$20bn in federal subsidies and incentives aimed at widening the adoption of electronic health records, which represent the largest source of the companyâs revenue. The firm has seen a five-fold increase in subscribers to its Allscripts ePrescribe electronic prescribing software in the months since the federal government announced cash incentives for physicians to use the technology. For the year Allscripts-Misys revenues were up by 80% to Â£350m thanks to strength in ASP licensing revenues in the period, which produced 70% growth on a like-for-like basis.
Marketing Director Andrew Dyer explained this week âMisys Banking serves 1,200 banks and financial institutions across 120 countries. With strong recurring revenues and a focus on tier two and tier three banks and financial institutions, the Misys business model is proving resilient in the current economic environment. In a trading update announced in June 2009 total revenue for the Banking division was Â£180m, representing a rise of 15% for the year. Total order intake was Â£90m; up 9% compared to the same period last year on the back of strong growth in Initial Licence Fees (ILF). In Treasury & Capital Markets (TCM), the group won 25 new clients pushing revenues up 14% to Â£160m. Although TCM revenues declined about 2% on a like-for-like basis, total order intake rose 4% to about Â£75m but on a like-for-like basis, while orders declined about 10%.â
On daily chart, Misys is near to breakout upside from its 52 week high of 180.0p after trading in a range of 150.0p and 180.0p, with a higher low indicating strong uptrend. MACD (moving average convergence/divergence) is positive and 12 day EMA is below 26 day EMA indicating some weakness. 14 day RSI (relative strength index) is near 60 showing strength in trend. ADX (Average Directional index) is near 20 indicating consolidation. Stock is also above 20 day and 50 day EMA which supports strength in trend. For a higher move stock has to move above 180.0p with higher volume. The stock has immediate resistance near 200p and support near 165p.
The stock can be bought around 172.0p with a profit target 191.83p and stop loss of 163.37p (Hedge position: Short position in spread betting with Â£7.26 bet per point).
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