BIT:PITE

Stock Analysis Report

Executive Summary

PITECO S.p.A. engages in the design, development, and implementation of solutions for treasury, finance, and financial planning management worldwide.

Snowflake

Fundamentals

Reasonable growth potential with acceptable track record.

Share Price & News

How has PITECO's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.7%

PITE

0.6%

IT Software

2.8%

IT Market


1 Year Return

35.9%

PITE

23.2%

IT Software

10.1%

IT Market

Return vs Industry: PITE exceeded the Italian Software industry which returned 23.2% over the past year.

Return vs Market: PITE exceeded the Italian Market which returned 10.1% over the past year.


Shareholder returns

PITEIndustryMarket
7 Day3.7%0.6%2.8%
30 Day4.7%-2.1%0.9%
90 Day12.5%-4.9%0.03%
1 Year39.9%35.9%24.9%23.2%14.9%10.1%
3 Year43.1%30.9%62.8%53.5%28.1%10.4%
5 Yearn/a93.1%77.3%22.6%-25.6%

Price Volatility Vs. Market

How volatile is PITECO's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PITECO undervalued compared to its fair value and its price relative to the market?

10.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PITE (€5.6) is trading below our estimate of fair value (€6.25)

Significantly Undervalued: PITE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PITE is good value based on its PE Ratio (19.7x) compared to the Software industry average (32.3x).

PE vs Market: PITE is poor value based on its PE Ratio (19.7x) compared to the Italian market (17.1x).


Price to Earnings Growth Ratio

Low PEG Ratio: PITE is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: PITE is overvalued based on its PB Ratio (3.3x) compared to the IT Software industry average (3.2x).


Next Steps

Future Growth

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

17.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PITE's forecast earnings growth (17.6% per year) is above the savings rate (2.9%).

Earnings vs Market: PITE's earnings (17.6% per year) are forecast to grow faster than the Italian market (8.6% per year).

High Growth Earnings: PITE's earnings are forecast to grow, but not significantly.

Revenue vs Market: PITE's revenue (10.2% per year) is forecast to grow faster than the Italian market (3.1% per year).

High Growth Revenue: PITE's revenue (10.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: PITE's Return on Equity is forecast to be high in 3 years time (21.2%)


Next Steps

Past Performance

How has PITECO performed over the past 5 years?

12.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PITE's earnings have grown by 12% per year over the past 5 years.

Accelerating Growth: PITE's earnings growth over the past year (11%) is below its 5-year average (12% per year).

Earnings vs Industry: PITE earnings growth over the past year (11%) exceeded the Software industry 7.6%.


Return on Equity

High ROE: PITE's Return on Equity (16.9%) is considered low.


Return on Assets

ROA vs Industry: PITE has a higher Return on Assets than the Software industry average last year.


Return on Capital Employed

ROCE Improving: PITE's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is PITECO's financial position?


Financial Position Analysis

Short Term Liabilities: PITE's short term assets (€11.2M) do not cover its short term liabilities (€12.6M)

Long Term Liabilities: PITE's short term assets (11.2M) do not cover its long term liabilities (28.8M)


Debt to Equity History and Analysis

Debt Level: PITE's debt to equity ratio (54.3%) is considered high

Reducing Debt: PITE's debt to equity ratio has reduced from 76.2% to 54.3% over the past 5 years.

Debt Coverage: PITE's debt is well covered by operating cash flow (29%).

Interest Coverage: PITE's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet

Inventory Level: PITE has a low level of unsold assets or inventory.

Debt Coverage by Assets: PITE's debt is not covered by short term assets (assets are 0.7x debt).


Next Steps

Dividend

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

2.68%

Current Dividend Yield


Dividend Yield vs Market

company2.7%marketbottom25%2.1%markettop25%4.4%industryaverage1.4%forecastin3Years4.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PITE's dividend (2.68%) is higher than the bottom 25% of dividend payers in the Italian market (2.06%).

High Dividend: PITE's dividend (2.68%) is low compared to the top 25% of dividend payers in the Italian market (4.41%).

Stable Dividend: Whilst dividend payments have been stable, PITE has been paying a dividend for less than 10 years.

Growing Dividend: PITE's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.7%), PITE's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PITE's dividends in 3 years are forecast to be covered by earnings (55% payout ratio).


Next Steps

Management

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

€5k

CEO Compensation


CEO

Paolo Virenti 0

0yrs

Tenure

€5,000

Compensation

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


Insider Trading

Insider Buying: PITE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy€35,40115 Oct 19
Zanella Francesca
EntityIndividual
Shares6,500
Max Price€5.50
Buy€24,92501 Oct 19
Zanella Francesca
EntityIndividual
Shares4,700
Max Price€5.75
Buy€79,43009 Aug 19
Zanella Francesca
EntityIndividual
Shares15,567
Max Price€5.16
Sell€31109 Aug 19
Zanella Francesca
EntityIndividual
Shares61
Max Price€5.10
Buy€7,75027 May 19
Zanella Francesca
EntityIndividual
Shares1,500
Max Price€5.20
Buy€7,87023 May 19
Zanella Francesca
EntityIndividual
Shares1,500
Max Price€5.30
Buy€61,53821 May 19
Zanella Francesca
EntityIndividual
Shares11,600
Max Price€5.45
Buy€1,79916 May 19
Zanella Francesca
EntityIndividual
Shares356
Max Price€5.05
Buy€3,63715 Feb 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares838
Max Price€4.38
Buy€6,31005 Feb 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares1,500
Max Price€4.22
Buy€8,25231 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares2,000
Max Price€4.20
Buy€164,07831 Jan 19
LiLLo S.p.A.
EntityCompany
Shares40,000
Max Price€4.10
Buy€9,15623 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares2,260
Max Price€4.06
Buy€5,25221 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares1,300
Max Price€4.04
Buy€14,03017 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares3,440
Max Price€4.10
Buy€14,49615 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares3,500
Max Price€4.16
Buy€55,44414 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares13,169
Max Price€4.30
Buy€42,94510 Jan 19
Marco Podini
EntityIndividual
Role
Chairman of the Board
Chairman of the Board of Directors
Shares10,331
Max Price€4.39

Ownership Breakdown


Management Team

  • Andrea Guillermaz

    Sales & Marketing Director and Director

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Paolo Virenti

    Chief Executive Officer and Director

    • Tenure: 0yrs
    • Compensation: €5.00k

Board Members

  • Marco Podini

    Chairman of the Board of Directors

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Andrea Guillermaz

    Sales & Marketing Director and Director

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Maria Podini

    Director

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Paolo Virenti

    Chief Executive Officer and Director

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Riccardo Veneziani

    Director

    • Tenure: 0yrs
    • Compensation: €5.00k
  • Annamaria Ruscio

    Independent Director

    • Tenure: 0yrs
    • Compensation: €7.00k
  • Marcello Prete

    Member of the Board of Statutory Auditors

    • Tenure: 0yrs
  • Luigi Salandin

    Chairman of the Board of Statutory Auditors

    • Tenure: 0yrs
  • Francesco Mancini

    Independent Director

    • Tenure: 0yrs
    • Compensation: €6.00k
  • Mauro Rossi

    Independent Director

    • Tenure: 0.5yrs

Company Information

PITECO S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PITECO S.p.A.
  • Ticker: PITE
  • Exchange: BIT
  • Founded: 1980
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: €100.556m
  • Shares outstanding: 17.96m
  • Website: https://www.pitecolab.it

Number of Employees


Location

  • PITECO S.p.A.
  • Via Mercalli, 16
  • Milan
  • Milan
  • 20122
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PITEBIT (Borsa Italiana)YesCommon SharesITEURJul 2015
PITEMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJul 2015

Biography

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 m ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 21:49
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.