Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.
  • TickerATO
  • ISINFR0000051732
  • ExchangeEuronext Paris
  • SectorSoftware & Computer Services
  • CountryFrance

Analysts

Charles Lepetitpas ...
  • Nicolas David

ODDO : A solid outlook for 2019 after all and acceleration in M&A

While we were expecting a slowdown in the IT services market, the Q1 earnings releases were reassuring, with growth maintained at +4.0% year-on-year. Moreover, the leading indicators improved significantly in recent quarters, which reassures us about the outlook. The sector’s valuation levels have eased, which offers an attractive entry point and is conducive to M&A. Our preference goes to Devoteam, in addition to Atos and Capgemini for which we have revised up our target prices....

Charles Lepetitpas ...
  • Nicolas David

ODDO : Perspectives finalement solides pour 2019 et accélération du M&A

Tandis que nous nous attendions à un ralentissement du marché des Services IT, les publications du T1 ont été rassurantes, avec une croissance qui s’est maintenue à +4.0% yoy. De plus, les indicateurs avancés se sont améliorés au cours des derniers trimestres, ce qui nous rassure sur les perspectives, alors que les niveaux de valorisation du secteur se sont détendus, ce qui offre un point d’entrée attractif et favorise le M&A. Nous privilégions Devoteam ainsi qu'Atos et Capgemini...

Gregory Ramirez

ATOS: Final FY18 results in line with preliminary numbers, guidance confirmed | BUY | EUR127

ATOS - BUY | EUR127 (+55%) Final FY18 results in line with preliminary numbers, guidance confirmed FY18 revenues and non-IFRS operating margin are confirmed There was no increase of the sales of receivables in H2 2018 FY19 guidance and Advance 2021 ambitions are confirmed

Charles Lepetitpas ...
  • Nicolas David

ODDO : A solid outlook for 2019 after all and acceleration in M&A

While we were expecting a slowdown in the IT services market, the Q1 earnings releases were reassuring, with growth maintained at +4.0% year-on-year. Moreover, the leading indicators improved significantly in recent quarters, which reassures us about the outlook. The sector’s valuation levels have eased, which offers an attractive entry point and is conducive to M&A. Our preference goes to Devoteam, in addition to Atos and Capgemini for which we have revised up our target prices....

Charles Lepetitpas ...
  • Nicolas David

ODDO : Perspectives finalement solides pour 2019 et accélération du M&A

Tandis que nous nous attendions à un ralentissement du marché des Services IT, les publications du T1 ont été rassurantes, avec une croissance qui s’est maintenue à +4.0% yoy. De plus, les indicateurs avancés se sont améliorés au cours des derniers trimestres, ce qui nous rassure sur les perspectives, alors que les niveaux de valorisation du secteur se sont détendus, ce qui offre un point d’entrée attractif et favorise le M&A. Nous privilégions Devoteam ainsi qu'Atos et Capgemini...

Cecile De Coincy ...
  • Jean-Baptiste Rouphael
  • Valentin Pernet

Carrefour : 14th Sustainability Forum – overview of our meetings

We recently held our 14th Sustainability Forum, a unique platform for SRI investors to meet with companies to discuss CSR themes and to assess their strategies in light of prevailing trends and long-term challenges. Among the key recurring themes this year were the formulation of an overarching “raison d’être”, defining carbon targets in line with the 2°C trajectory (SBT - science based targets), the circular economy and talent retention. - - >A “raison d’être” approach: a...

Cecile De Coincy ...
  • Jean-Baptiste Rouphael
  • Valentin Pernet

Carrefour : 14ème Sustainability Forum – Synthèse des entretiens

Nous avons organisé, pour la quatorzième fois, notre Sustainability Forum, un évènement unique permettant aux investisseurs ISR de rencontrer les entreprises sur les thématiques E, S et G et d’en évaluer la stratégie à l’aune des tendances et des enjeux de long terme. Nous relevons des thématiques particulièrement récurrentes pour ce millésime : la formulation d’une raison d’être structurante, la définition d’objectifs carbone s’alignant sur une trajectoire 2° (SBT – Science Base...

Charles Lepetitpas ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Jean Sassus
  • Nicolas David
  • Nicolas Thorez
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/12/2019

OK, everything (risk aversion, persistently low interest rates, questions about the macro cycle) argues in favour of a growth/quality allocation. But at what price? A modelling of the 12-mth relative P/E of the Stoxx 600 sectors according to their "desirability" (visibility of EPS growth, negative correlation to rates, low correlation to political risk) leads to the observation that the food & beverages sector (=) is trading 8% above its theoretical premium, which is not the case for ...

1 director bought

A director at Atos Origin bought 500 shares at 67.364EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Charles Lepetitpas ...
  • Nicolas David
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/04/2019

The unconventional oil sector (shale oil) in the US has seen fears of a slowdown mount in the last few months in connection with the trend in E&P capex. Consolidation among sector players has begun and could even accelerate. Larger E&P players would create an environment for tube manufacturers where investment decisions are less volatile, though their pricing power might be reduced. 2019 could be a transition year with capex in North America down 5%. A recovery is expected in 2020. We...

Charles Lepetitpas ...
  • Nicolas David
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/06/2019

Le secteur du pétrole non conventionnel (shale oil) aux USA suscite depuis quelques mois des craintes d’un risque de ralentissement en rapport avec l’évolution des Capex des E&P notamment. Un phénomène de consolidation s’est enclenché entre les acteurs du secteur et pourrait même s’accélérer. Le fait d’avoir des acteurs de plus grande taille permettrait aux tubistes de naviguer dans un environnement où les décisions d’investissement sont moins volatiles en contrepartie, peut-être, d’u...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/26/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/04/2019

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

An unfavourable environment weighs on ATOS, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of ATOS (FR), active in the Computer Services industry. As regards its fundamental valuation, the title still shows 3 out of 4 stars and its market behaviour is seen as risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date April 9, 2019, the closing price was EUR 83.06 and its target price was estimated at EUR 66.13.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Cognizant Technology Solutions Corp - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Cognizant Technology Solutions Corp Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Cognizant Technology Solutions Corp since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sus...

MarketLine Department

Indra Sistemas, S.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Indra Sistemas, S.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Indra Sistemas, S.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage...

MarketLine Department

GFI Informatique - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's GFI Informatique Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by GFI Informatique since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key H...

Expert Corporate Governance Service (ECGS)

Atos, 30th April 2019

ADDENDUM (as of 4th April 2019): the company published an addendum this day that changes vesting conditions of options and performance shares. This changes our voting recommendation on item 22, but it does not change our voting recommendation on item 21 and 26. ITEM 5: the company proposes the payment of an exceptional dividend in kind of 2 Worldline Shares for 5 Atos shares. ECGS supports this proposal. ITEM 6: the company proposes a non-binding vote on its new strategic plan. It’s the only one in France to do so. We appreciate this initiative. ITEM 8: the mandate of Thierry Breton, chairman...

Jehanne Leroy

Atos 30 Avril 2019

ADDENDUM du 4 avril 2019 : la société a publié ce jour un addendum à sa brochure de convocation modifiant les conditions d’acquisition des options et actions de performance objets des résolutions 21 et 22. Ces changements modifient notre recommandation de vote sur la résolution 22 (Options), mais ne modifient pas nos recommandations de vote sur les résolutions 21 et 26. GouvernanceIl est proposé de renouveler le mandat de Thierry Breton, Président Directeur Général, comme administrateur. En termes de gouvernance, le bilan n’est pas positif puisque le taux d’indépendance du conseil selon Proxi...

Atos - Assemblée générale des actionnaires du 30 avril 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Atos – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 24/05/2018

This year, for the first time, the company discloses achievement rates of each criterion of the 2017 annual bonus. We welcome this improvement. However, Mr Breton’s 2017 remuneration (€6.12 M) remains excessive as it represents 150% of the CAC 40 median. Hence, we do not support item 10.

Jérôme VINERIER

Short term view - ATOS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €59.88. The background trend would be questioned should prices rise above €101.30.

Jérôme VINERIER

Analyse court terme - ATOS : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 59,88 €. La tendance de fond serait remise en cause en cas de franchissement de 101,30 €.

Jérôme VINERIER

Short term view - ATOS : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €59.88, then €52.10. Passing €101.30 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - ATOS : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 59,88 €, puis 52,10 €. Le franchissement de 101,30 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - ATOS : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 59,90 €, puis 47,90 €. Le franchissement de 109,00 € remettrait en cause la suite de la baisse.

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