Computer Software Group EPIC : CSW

Shares in Issue : 56.79m

Web Site : http://www.computersoftware.com/

E-Mail : investors@computersoftware.com

Broker Forecasts :

Seymour Pierce 28th Feb 2007 BUY

2007 PTP 8.3m
2007 EPS 9.7p

2008 PTP 9.6m
2008 EPS 10.7p



Company Overview

Computer Software Group (CS Group) has been delivering innovative business solutions for more than 30 years. With 13 offices in the UK we are a leading UK software house focusing on the development of fully-integrated solutions for British and International companies. Today CS Group helps over 2500 companies, including many market leaders, in a wide variety of industry sectors.

CS Group is listed on the London Stock Exchange (CSW) and our impressive client list includes: Blick UK, CBI, Cembre, Chesterfield Borough Council, Connaught, Electrolux UK, Manchester City FC, Morphy Richards, RNLI, Rocom and Thomas Plant among many others.

Why Computer Software Group?

There are many reasons why our customers choose Computer Software Group and our solutions:

-We are the leading UK IBM iSeries software house offering a completely integrated and vertically-focussed solution portfolio from the web and mobile-enabled front-office systems through to back-office accounting and payroll. CS Group solutions have successfully been deployed by more than 25% of the IBM UK iSeries installed base.
-30% of Premiership football clubs run their business with our software. Our leading-edge integration with smartcard technologies has extended our capabilities to include access control integrated with ticketing, CRM, websales, merchandising and corporate sales.
-Our acquisitions of Pinnacle, Advatech and Prolog position us as a leading solution vendor in the Field Service sector with more than 25% market share and with more than 1200 combined customers. Our rich solutions portfolio, extended with new capabilities, is able to address the needs of any service management company.
-We are a leading supplier of membership software and fund raising software to the Not For Profit sector, offering web-based solutions to professional bodies, trade associations, charities, unions, NGOs and sports governing bodies.
-Our acquisition of Transoft have extended our solutions suite to offer application modernization, integration and migration. These specialist products and expertise enable organisations to evolve new IT solutions from their existing ones, allowing companies to deliver improved business processes faster, with less risk and with lower costs.
-CS Group solutions can be purchased or rented on an applications on demand basis for a low, fixed monthly fee.

Could be a blue day ahead on CSW methinks ;)

1 August 2006
Computer Software Group plc
Acquisition of Videss Limited for £7.07 million

Computer Software Group plc ('CS Group'), the AIM-listed niche IT software
consolidator, is pleased to announce the acquisition of the whole of the issued
share capital of Videss Limited ('Videss') for a total consideration of £7.07
million. The consideration was satisfied by a payment in cash of £6.57m,
provided by an additional banking facility, and the issue of 518,135 ordinary
shares in CS Group, credited as fully paid. At completion, Videss had cash
resources of approximately£2.80 million.

This transaction, following the acquisitions of the AIM Group in April 2006 and
Laserform in June 2006, represents CS Group's third acquisition in the
specialist software market servicing the legal sector.

With offices in Leeds and Swindon, Videss is a provider of software and related
services to over 180 medium to large firms in the legal sector. Within this
client base Videss software is accessed by over 10,000 users and the value of
annual support contracts exceeds £2.0m.

Videss's audited accounts to 31 March 2006 recorded sales of £4.97 million and
profit before taxation of £0.43 million. The net assets of Videss at 31 March
2006 were £1.77 million.

The founder and chief executive of Videss, Paul Sanderson, together with his
wife Sonja, currently finance director, will retire from the business on
acquisition. Chris Rose (48), who has been with the business for over 22 years,
will continue in his role as sales director.

Commenting on the acquisition, Vin Murria, Chief Executive of CS Group, said:

'Videss joins recent acquisitions AIM Group and Laserform in our Professional
Solutions division to enable us to build a strong position in the legal software market. We now have a range of software products and services that can service both large and small members of the legal sector. '

Application has been made for the consideration shares to be admitted to trading on AIM and admission is expected to commence on 7 August 2006.

- Ends -
Contact:
Computer Software Group plc 020 8879 3939
Vin Murria, CEO
Barbara Firth, CFO

Financial Dynamics 020 7831 3113
Giles Sanderson / Juliet Clarke / Hannah Sloane

Another attempt at breaking through the 100p level and staying above :) ?

Looks like some news coming, or as CSW been tipped somewhere ? or will be tipped somewhere ?

Looking very good, we could/should finish a bit ahead of forecasts then :)

Computer Software Group PLC
04 September 2006
Computer Software Group plc
AGM Statement
Computer Software Group plc ('CS Group' or the 'Company'), the AIM-listed niche IT software consolidator, announces that at the Annual General Meeting of the Company, which was held today, all resolutions proposed at the meeting were duly
passed.

At the meeting, Michael Jackson, Chairman, made the following statement to shareholders:

'Trading has been satisfactory during the first half year and we are well on the way to successfully integrating our four latest acquisitions. Full year results look set to be comfortably in line with market expectations.'

- Ends -

Getting some more interest again :) It should, given the forecasts and the AGM statement.

Getting some more interest again :) It should, given the forecasts and the AGM statement.

Broker target price of now 150p and upgrades aplenty.

Looking very strong.

Seymour Pierce 20th Oct 2006 BUY

2007 PTP 8.4m
2007 EPS 10.1p

Company says they are comfortably in line with forecasts, plenty going on and results due 30th November. Certainly is a bargain at present prices IMO.

This was the write up from http://www.growthcompany.co.uk back in June at 99p and also prior to the forecast EPS upgrades for the current year which now stands at 10.1p forecast EPS for 2006 (to be reported 30th Nov). A major event, IMO, after this was not only the acquisition, but also in August a director buy of 100K shares at 100p, which tends to support that they expect strong growth ahead.


http://www.growthcompany.co.uk

Computer Software Group - STRONG BUY
Companies: CSW
27/06/2006
Niche IT software consolidator CSG one of Growth Company Investors picks for 2006 at 68p has made a further move into the legal sector through the acquisition of Laserform. Weve now done two deals in legal, and you can expect more, teases chief executive Vin Murria.

Cash generative CSG has paid 4.8m 4.3m in cash from banking facilities, the rest in shares for Laserform, a provider of documentation and practice management software. It boasts over 2,000 clients, including 80 of the top 100 UK legal practices, and great levels of revenue visibility. If you factor in the 1.5m of cash on Laserforms balance sheet, the true enterprise price paid was lower at 3.3m.

Laserform sported sales last year of 4.1m last year, making 500,000 at the EBITA level. As such, it should enhance CSG earnings this year. If Murria can turn a profit at AIM Group, the legal software venture she bought in May for 5.3m, this intriguing niche could become increasingly important for the company

Analyst Derek Brown of house broker Seymour Pierce has upgraded his February 2007 numbers from sales of 36m to 38.8m, up from last years 25.2m. Those revenues should deliver adjusted pre-tax profits of 7.8m and 9.4p of earnings, figures that place the shares on a forward p/e of 10.2. That rating looks miserly, given earnings are forecast to burgeon by 20.5% in the current year. This group is a strong buy.

Lets hope some coverage from TW along with SCSW (both have it as a buy as well as GCI) will raise the profile of CSW into their results.

3 MM moves up today, L2 now 2 v 1 @114/117

Rolll on the 30th Nov and results.

From the Daily Express this morning as reported by a post on AFN. Cannot not agree, the results should be very impressive as well as the outlook statement :

SHARE WHISPER.
Aim Listed software firm, COMPUTER SOFTWARE GROUP, gained 4.5p to 115.5 yesterday as traders bet on a strong half years results due on November 30, after it bedded in several acquisitions.Impressive intrim figures could lead to a share re-rating.

One thing I like about them is the management team. Vin Murria, the CEO has been with CSW since 2002 and was in the past the COO of Kewill and is a key figure in the CSW's growth. The chairman is Michael Jackson and he is also chairman of Sage. The CFO Barbara Firth has more than 25 years of accounting experience. Its a good team in place and one that is going to be taking CSW places in the near term and over the long term.

The are getting a reputation now for earnings upgrades, and that adds to the appeal for me.

Ive got a few here PP, should have some excelent results.

I suggest you putting them in your compo portfolio over the road, so that I can overtake you.

Nudge nudge, wink wink.

goldfinger, got a bagful in both mate :) real and the competition. Trouble is those percentages get put back to zero later next week, so got to make all those gains again........

Everyone is looking forward to interims late Nov, and the company says comfortably in line, so should be a cracker.

o/t in case anyone is wondering, its this competition : http://212.26.134.247/Competitions.aspx

Post from AFN, the current year 11.5x is very undemanding, as is their target price of 14.5x current year (07) EPS imo. :


edcrane - 30 Oct'06 - 09:40 - 162 of 162


New research note out this morning from Collins Stewart .....

" ...... currently trades on a P/E multiple of 11.5x FY07E adjusted EPS, a discount to software comparables. However, we believe that current growth rates and cash generation justify a narrowing of the discount to a P/E multiple of 14.5x. This is supported by the improving trend in ROCE and our DCF analysis, which suggests a fair value of 156p. A potential catalyst for re-rating is earnings upgrades, driven by cross selling and increased cost savings. We therefore initiate coverage with a BUY recommendation and a 145p price target."

.

Strengthening up begind the scenes, few MM moves up today on L2, its now 3 v 3 @117/120