EDB Business Partner is a vendor of IT services in the Nordic region. Co. is organized into three business areas: Solutions; Application Services and IT Operations. The Solutions business area offers a range of software and consulting services for the Nordic banking and finance sector. The Application Services business area delivers a range of consulting services, through Guide Konsult in Sweden and Avenir in Norway. The IT Operations business area comprises network services, infrastructure and applications operations, security services, user support, as well as electronic business support services such as invoice management, payment services, messaging and printing.
  • TickerEVRY
  • ISINNO0010019649
  • ExchangeOslo Bors
  • SectorSoftware & Computer Services
  • CountryNorway

Analysts

1 director sold

A director at Evry Asa sold 500,000 shares at 32.500NOK and the significance rating of the trade was 89/100. 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 memb...

EVRY ASA sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of EVRY ASA (NO), active in the Computer Services industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date July 19, 2019, the closing price was NOK 31.35 and its target price was estimated at NOK 29.27.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK42.00) - Possible further synergies

While the Q2 results were slightly soft (seasonality; decline in non-strategic business), we appreciated that EVRY management commented that the proposed EUR75m in annual TietoEVRY synergies may be a cautious estimate. BUY and NOK42 target maintained.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK42.00) - Q2 another non-event; focus likely on proposed merger

After modest estimate revisions, we are in line with consensus, expecting Q2 to be a relatively slow quarter due to fewer working days YOY. We believe the focus on reporting day will be on the proposed merger with Tieto, which we continue to find attractive. BUY and NOK42 target price maintained.

Christoffer Wang Bjørnsen ...
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn

Northern Lights

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK42.00) - Possible further synergies

While the Q2 results were slightly soft (seasonality; decline in non-strategic business), we appreciated that EVRY management commented that the proposed EUR75m in annual TietoEVRY synergies may be a cautious estimate. BUY and NOK42 target maintained.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK42.00) - Q2 another non-event; focus likely on proposed merger

After modest estimate revisions, we are in line with consensus, expecting Q2 to be a relatively slow quarter due to fewer working days YOY. We believe the focus on reporting day will be on the proposed merger with Tieto, which we continue to find attractive. BUY and NOK42 target price maintained.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK42.00) - ‘Bi-winning’ proposed merger

While yesterday’s close of Tieto implies a valuation of NOK36.6 per EVRY share, we believe this significantly underrates the attractiveness of an EVRY/Tieto combination, its potential synergies, strengthened competitive positioning, and improved share structure. As such, we have raised our target price to NOK42 (40) and reiterate our BUY recommendation, as we believe the companies are better together.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK40.00) - Steady performer

Q1 was mostly a non-event from our point of view, with and adj. EBITA (adjusted for IFRS16 effects) slightly ahead of our expectations but below consensus, driven by solid organic growth in Norway and Financial Services, but still challenges in Sweden. We have made only limited estimate revisions, expecting Sweden to rebound in H2, and reiterate our BUY recommendation and NOK40 target price.

Christoffer Wang Bjørnsen

EVRY (Buy, TP: NOK40.00) - Q1 set to be another non-event

We have trimmed our adj. EBIT and adj. EPS estimates for 2019, and expect Q1 to be another non-event for EVRY, as we expect to still see significant restructuring costs related to the IBM T&T process, and continued challenges in Sweden distorting the market’s perception of an otherwise well-performing and attractive business. We have raised our target price to NOK40 (37) on strong peer trading and retain our BUY.

1 director sold

A director at Evry Asa sold 500,000 shares at 32.500NOK and the significance rating of the trade was 89/100. 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 memb...

Christoffer Wang Bjørnsen ...
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn

Northern Lights

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Jon Masdal
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Christoffer Wang Bjørnsen ...
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

EVRY ASA sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of EVRY ASA (NO), active in the Computer Services industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date July 19, 2019, the closing price was NOK 31.35 and its target price was estimated at NOK 29.27.

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