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PITECO

BIT:PITE
Snowflake Description

Reasonable growth potential with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PITE
BIT
€95M
Market Cap
  1. Home
  2. IT
  3. Software
Company description

PITECO S.p.A. engages in the design, development, and implementation of solutions for treasury, finance, and financial planning management worldwide. The last earnings update was 23 days ago. More info.


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PITE Share Price and Events
7 Day Returns
5%
BIT:PITE
-0%
IT Software
0.6%
IT Market
1 Year Returns
8.6%
BIT:PITE
-6.3%
IT Software
-7.2%
IT Market
PITE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PITECO (PITE) 5% 29.9% 32.5% 8.6% 38.6% -
IT Software -0% 3.8% 11.7% -6.3% 48.2% 36.5%
IT Market 0.6% 2.9% 10% -7.2% -7.2% -35%
1 Year Return vs Industry and Market
  • PITE outperformed the Software industry which returned -6.3% over the past year.
  • PITE outperformed the Market in Italy which returned -7.2% over the past year.
Price Volatility
PITE
Industry
5yr Volatility vs Market

Value

 Is PITECO undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PITECO to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PITECO.

BIT:PITE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.6%
Perpetual Growth Rate 10-Year IT Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BIT:PITE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.135 (1 + (1- 24%) (34.23%))
1.288
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (1.288 * 9.02%)
14.56%

Discounted Cash Flow Calculation for BIT:PITE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PITECO is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BIT:PITE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 14.56%)
2019 8.82 Analyst x2 7.69
2020 9.51 Analyst x2 7.24
2021 10.33 Analyst x2 6.87
2022 11.02 Est @ 6.71% 6.40
2023 11.64 Est @ 5.58% 5.90
2024 12.19 Est @ 4.78% 5.40
2025 12.71 Est @ 4.23% 4.91
2026 13.20 Est @ 3.84% 4.45
2027 13.67 Est @ 3.57% 4.02
2028 14.13 Est @ 3.38% 3.63
Present value of next 10 years cash flows €56.52
BIT:PITE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €14.13 × (1 + 2.93%) ÷ (14.56% – 2.93%)
€125.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €125.16 ÷ (1 + 14.56%)10
€32.16
BIT:PITE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €56.52 + €32.16
€88.68
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €88.68 / 17.98
€4.93
BIT:PITE Discount to Share Price
Calculation Result
Value per share (EUR) From above. €4.93
Current discount Discount to share price of €5.30
= -1 x (€5.30 - €4.93) / €4.93
-7.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of PITECO is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PITECO's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PITECO's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:PITE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.25
BIT:PITE Share Price ** BIT (2019-04-17) in EUR €5.3
Italy Software Industry PE Ratio Median Figure of 6 Publicly-Listed Software Companies 26.47x
Italy Market PE Ratio Median Figure of 239 Publicly-Listed Companies 16.32x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PITECO.

BIT:PITE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:PITE Share Price ÷ EPS (both in EUR)

= 5.3 ÷ 0.25

20.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PITECO is good value based on earnings compared to the IT Software industry average.
  • PITECO is overvalued based on earnings compared to the Italy market.
Price based on expected Growth
Does PITECO's expected growth come at a high price?
Raw Data
BIT:PITE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
14.8%per year
Europe Software Industry PEG Ratio Median Figure of 76 Publicly-Listed Software Companies 2.12x
Italy Market PEG Ratio Median Figure of 159 Publicly-Listed Companies 1.3x

*Line of best fit is calculated by linear regression .

BIT:PITE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.89x ÷ 14.8%

1.41x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PITECO is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PITECO's assets?
Raw Data
BIT:PITE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €1.58
BIT:PITE Share Price * BIT (2019-04-17) in EUR €5.3
Italy Software Industry PB Ratio Median Figure of 9 Publicly-Listed Software Companies 2.93x
Italy Market PB Ratio Median Figure of 313 Publicly-Listed Companies 1.52x
BIT:PITE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:PITE Share Price ÷ Book Value per Share (both in EUR)

= 5.3 ÷ 1.58

3.34x

* Primary Listing of PITECO.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PITECO is overvalued based on assets compared to the IT Software industry average.
X
Value checks
We assess PITECO's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. PITECO has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PITECO expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PITECO expected to grow at an attractive rate?
  • PITECO's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • PITECO's earnings growth is expected to exceed the Italy market average.
  • PITECO's revenue growth is expected to exceed the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:PITE Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:PITE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 14.8%
BIT:PITE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 11.5%
Italy Software Industry Earnings Growth Rate Market Cap Weighted Average 45.3%
Italy Software Industry Revenue Growth Rate Market Cap Weighted Average 12.1%
Italy Market Earnings Growth Rate Market Cap Weighted Average 10.3%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BIT:PITE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:PITE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 29 12 9 1
2020-12-31 27 10 8 1
2019-12-31 25 9 7 1
BIT:PITE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 20 6 5
2018-09-30 19 6 5
2018-06-30 18 6 5
2018-03-31 17 5 4
2017-12-31 17 4 3
2017-09-30 16 4
2017-06-30 15 4 4
2017-03-31 14 4 4
2016-12-31 14 4 5
2016-09-30 14 4
2016-06-30 13 5 4
2016-03-31 13 4 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PITECO's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
  • PITECO's revenue is expected to grow by 11.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BIT:PITE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from PITECO Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:PITE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.47 0.51 0.44 2.00
2020-12-31 0.43 0.45 0.42 2.00
2019-12-31 0.37 0.38 0.36 2.00
BIT:PITE Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31
2018-09-30
2018-06-30 0.25
2018-03-31 0.22
2017-12-31 0.19
2017-09-30 0.20
2017-06-30 0.21
2017-03-31 0.23
2016-12-31 0.25
2016-09-30 0.23
2016-06-30 0.20
2016-03-31 0.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PITECO is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess PITECO's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Italy market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Italy market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PITECO has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PITECO performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PITECO's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PITECO's year on year earnings growth rate has been positive over the past 5 years.
  • PITECO's 1-year earnings growth exceeds its 5-year average (55.5% vs 14.4%)
  • PITECO's earnings growth has not exceeded the IT Software industry average in the past year (55.5% vs 55.5%).
Earnings and Revenue History
PITECO's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PITECO Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:PITE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 20.31 5.27
2018-09-30 19.26 4.93 1.98
2018-06-30 18.21 4.59 0.29
2018-03-31 17.47 3.99 0.28
2017-12-31 16.74 3.39 0.26
2017-09-30 15.69 3.56 -3.13
2017-06-30 14.65 3.73 -2.87
2017-03-31 14.23 4.11 -1.36
2016-12-31 13.80 4.50 0.15
2016-09-30 13.63 4.21 3.09
2016-06-30 13.46 3.93 6.03
2016-03-31 13.15 3.68 5.78
2015-12-31 12.84 3.43 5.54
2014-12-31 12.30 2.44 5.24
2013-12-31 11.17 1.65 5.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PITECO has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PITECO used its assets more efficiently than the IT Software industry average last year based on Return on Assets.
  • PITECO's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PITECO's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PITECO has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PITECO's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PITECO's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PITECO is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PITECO's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PITECO's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PITECO Company Filings, last reported 3 months ago.

BIT:PITE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 31.14 32.63 5.83
2018-09-30 31.14 32.63 5.83
2018-06-30 28.50 11.24 6.15
2018-03-31 28.50 11.24 6.15
2017-12-31 29.92 11.68 5.15
2017-09-30 29.92 11.68 5.15
2017-06-30 30.17 14.49 7.89
2017-03-31 30.17 14.49 7.89
2016-12-31 32.02 8.92 10.87
2016-09-30 32.02 8.92 10.87
2016-06-30 29.28 9.73 11.61
2016-03-31 29.28 9.73 11.61
2015-12-31 29.38 10.54 10.20
2014-12-31 18.28 11.89 1.85
2013-12-31 19.10 16.57 3.05
  • PITECO's level of debt (104.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (86.7% vs 104.8% today).
  • Debt is not well covered by operating cash flow (19.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.8x coverage).
X
Financial health checks
We assess PITECO's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PITECO has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PITECO's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.83%
Current annual income from PITECO dividends. Estimated to be 4.37% next year.
If you bought €2,000 of PITECO shares you are expected to receive €57 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PITECO's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (1.95%).
  • PITECO's dividend is below the markets top 25% of dividend payers in Italy (4.4%).
Upcoming dividend payment

Purchase PITECO before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BIT:PITE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Software Industry Average Dividend Yield Market Cap Weighted Average of 80 Stocks 1.5%
Italy Market Average Dividend Yield Market Cap Weighted Average of 182 Stocks 4%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.2%
Italy Bottom 25% Dividend Yield 25th Percentile 2%
Italy Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BIT:PITE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.26 2.00
2020-12-31 0.24 2.00
2019-12-31 0.20 2.00
BIT:PITE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.150 3.092
2018-04-23 0.150 3.461
2018-03-15 0.150 3.034
2016-05-24 0.100 2.199
2016-03-17 0.100 2.648

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, PITECO has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but PITECO only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of PITECO's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess PITECO's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PITECO afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PITECO has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PITECO's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paolo Virenti
COMPENSATION €5,000
CEO Bio

Mr. Paolo Virenti serves as Chief Executive Officer and Director at PITECO S.p.A.

CEO Compensation
  • Paolo's compensation has been consistent with company performance over the past year.
  • Paolo's remuneration is higher than average for companies of similar size in Italy.
Management Team

Paolo Virenti

TITLE
Chief Executive Officer and Director
COMPENSATION
€5K

Andrea Guillermaz

TITLE
Sales & Marketing Director and Director
COMPENSATION
€5K

Piero Pogliani

TITLE
Head of Match.IT Business Unit
Board of Directors

Marco Podini

TITLE
Chairman of the Board of Directors
COMPENSATION
€5K

Paolo Virenti

TITLE
Chief Executive Officer and Director
COMPENSATION
€5K

Andrea Guillermaz

TITLE
Sales & Marketing Director and Director
COMPENSATION
€5K

Luigi Salandin

TITLE
Chairman of the Board of Statutory Auditors

Maria Podini

TITLE
Director
COMPENSATION
€5K

Riccardo Veneziani

TITLE
Director
COMPENSATION
€5K

Annamaria Ruscio

TITLE
Director
COMPENSATION
€5K

Marcello Prete

TITLE
Member of the Board of Statutory Auditors

Fabio Mascherpa

TITLE
Member of the Board of Statutory Auditors
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by PITECO insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
15. Feb 19 Buy Marco Podini Individual 13. Feb 19 13. Feb 19 838 €4.38 €3,637
05. Feb 19 Buy Marco Podini Individual 31. Jan 19 31. Jan 19 1,500 €4.22 €6,310
31. Jan 19 Buy LiLLo S.p.A. Company 28. Jan 19 29. Jan 19 40,000 €4.10 €164,078
31. Jan 19 Buy Marco Podini Individual 28. Jan 19 29. Jan 19 2,000 €4.20 €8,252
23. Jan 19 Buy Marco Podini Individual 21. Jan 19 21. Jan 19 2,260 €4.06 €9,156
10. Jan 19 Buy Marco Podini Individual 07. Jan 19 08. Jan 19 10,331 €4.39 €42,945
21. Jan 19 Buy Marco Podini Individual 17. Jan 19 17. Jan 19 1,300 €4.04 €5,252
17. Jan 19 Buy Marco Podini Individual 15. Jan 19 16. Jan 19 3,440 €4.10 €14,030
15. Jan 19 Buy Marco Podini Individual 11. Jan 19 14. Jan 19 3,500 €4.16 €14,496
14. Jan 19 Buy Marco Podini Individual 09. Jan 19 10. Jan 19 13,169 €4.30 €55,444
02. Oct 18 Buy Maria Podini Individual 27. Sep 18 27. Sep 18 10,000 €5.00 €49,635
02. Oct 18 Buy Marco Podini Individual 27. Sep 18 27. Sep 18 10,000 €5.00 €49,970
14. Jun 18 Buy Marco Podini Individual 12. Jun 18 12. Jun 18 3,000 €4.60 €13,800
12. Jun 18 Buy Marco Podini Individual 08. Jun 18 08. Jun 18 500 €4.60 €2,300
01. Jun 18 Buy Marco Podini Individual 30. May 18 30. May 18 9,000 €4.84 €42,570
01. Jun 18 Sell Marco Podini Individual 30. May 18 30. May 18 -1,500 €4.80 €-7,200
31. May 18 Buy Marco Podini Individual 28. May 18 29. May 18 43,000 €5.03 €207,716
29. May 18 Buy Marco Podini Individual 24. May 18 24. May 18 20,000 €4.84 €94,800
28. May 18 Buy Marco Podini Individual 23. May 18 23. May 18 8,000 €4.86 €38,470
24. May 18 Buy Marco Podini Individual 22. May 18 22. May 18 46,500 €4.86 €219,650
14. May 18 Buy Marco Podini Individual 09. May 18 09. May 18 2,500 €4.86 €12,120
10. May 18 Buy Marco Podini Individual 08. May 18 08. May 18 4,000 €5.00 €19,720
09. May 18 Buy Marco Podini Individual 04. May 18 07. May 18 10,500 €5.00 €51,432
07. May 18 Buy Marco Podini Individual 02. May 18 03. May 18 7,000 €4.91 €33,978
02. May 18 Buy Marco Podini Individual 27. Apr 18 30. Apr 18 10,000 €4.91 €48,779
27. Apr 18 Buy Marco Podini Individual 24. Apr 18 25. Apr 18 12,000 €4.91 €58,835
25. Apr 18 Buy Marco Podini Individual 20. Apr 18 23. Apr 18 13,000 €4.92 €63,494
20. Apr 18 Buy Marco Podini Individual 18. Apr 18 19. Apr 18 3,000 €4.91 €14,697
11. May 18 Buy Marco Podini Individual 09. May 18 09. May 18 500 €4.84 €2,420
X
Management checks
We assess PITECO's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PITECO has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Has PITECO S.p.A. (BIT:PITE) Been Employing Capital Shrewdly?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

The PITECO (BIT:PITE) Share Price Is Down 13% So Some Shareholders Are Getting Worried

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the unfortunate twelve months during which the PITECO share price fell, it actually saw its earnings per share (EPS) improve by 23%.

Simply Wall St -

What Investors Should Know About PITECO S.p.A.'s (BIT:PITE) Financial Strength

Investors are always looking for growth in small-cap stocks like PITECO S.p.A. … However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is

Simply Wall St -

Read This Before Buying PITECO S.p.A. (BIT:PITE) Shares

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … In the last twelve months, the biggest single sale by an insider was when Chairman of the Board of Directors Marco Podini sold €1.4m worth of shares at a price of €4.96 per share. … That means that an insider was selling shares at around the current price of €4.38.

Simply Wall St -

Why We’re Not Impressed By PITECO S.p.A.’s (BIT:PITE) 14% ROCE

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Read This Before Buying PITECO SpA (BIT:PITE) For Its Dividend

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … PITECO SpA (BIT:PITE) has recently paid dividends to shareholders, and currently yields 3.8%. … View our latest analysis for PITECO

Simply Wall St -

Why PITECO SpA (BIT:PITE) Looks Like A Quality Company

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows PITECO has a return on equity of 16% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

PITECO SpA (BIT:PITE): Can Growth Justify Its October Share Price?

Looking at PITECO SpA’s (BIT:PITE) fundamentals some investors are wondering if its last closing price of €4.32 represents a good value for money for this high growth stock. … Let’s look into this by assessing PITE's expected growth over the next few years. … According to the analysts covering the company, the following few years should bring about good growth prospects for PITECO

Simply Wall St -

Who Are The Top Investors In PITECO SpA (BIT:PITE)?

In this article, I will take a quick look at PITECO SpA’s (BIT:PITE) recent ownership structure – an unconventional investing subject, but an important one. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … Therefore, it is beneficial for us to examine PITE's ownership structure in more detail.

Simply Wall St -

Positive Sentiment Around PITECO SpA (BIT:PITE) Is Justified

PITECO SpA (BIT:PITE) continues to post impressive revenue growth and its prospects have never been brighter. … I will conduct a high level fundamental analysis on the company by looking at its past financials and growth prospects moving forward … Firstly, a quick intro on the company -

Simply Wall St -

Company Info

Description

PITECO S.p.A. engages in the design, development, and implementation of solutions for treasury, finance, and financial planning management worldwide. The company offers PITECO EVO, a platform designed to manage cash management, payment factory, financial planning, global liquidity management, and supply chain finance; PITECO CBC, a corporate banking communication platform that manages automation of the authorization workflows; and PITECO FRM that supports corporate financial risk management processes in compliance with the international accounting codes and observing financial risk exposures. It also provides MATCH.IT, a solution to analyze and match complex data; and PITECO AT.PRO, an information system for the back and middle office management of securities portfolio. In addition, the company offers consultancy and assistance services, including consultancy tailored to client needs, customer care, software customizing, customizable product releases, and application management. It serves various customers in automation and paper, automotive, chemical and pharmaceutical, healthcare, construction and tile, consumer goods, fashion, finance and insurance, food, logistics and travelling, mechanics and steel, media, retail, services, telecom, utilities, and oil and gas industries. The company was founded in 1980 and is headquartered in Milan, Italy. PITECO S.p.A. is a subsidiary of DEDAGROUP spa.

Details
Name: PITECO S.p.A.
PITE
Exchange: BIT
Founded: 1980
€95,315,200
17,984,000
Website: http://www.pitecolab.it
Address: PITECO S.p.A.
Via Mercalli, 16,
Milan,
Milan, 20122,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT PITE Common Shares Borsa Italiana IT EUR 31. Jul 2015
Number of employees
Current staff
Staff numbers
105
PITECO employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 23:31
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/25
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.