Ideagen has been named among the top ten small cap share tips for 2017 by finnCap, the leading independent broker and advisor for companies operating on the AIM market and London Stock Exchange.
Ideagen was commended thanks to its “strong record of coupling organic growth with strategic acquisitions” and “consistently delivering on forecasts”.
The company’s performance helped its market value surge from £11 million in 2012 to today’s value of over £110 million.
A finnCap spokesman, quoted in an article on the Interactive Investor website, said: “There is now another certainty in life in addition to death and taxes – compliance.
“With momentum behind the Ideagen software group, earnings are expected to jump by over 20% this year, which could underpin a leap in its share price to 78p – 16% higher than current levels.
“Ideagen’s market value has already surged from £11 million in 2012 to over £110 million, which should attract bigger investors.”
As well as significant organic growth in the last few years, Ideagen has made a number of strategic and significant acquisitions to boost its product suite, staff numbers and revenues.
In just nine years, the software firm has made a total of 11 acquisitions. In 2016 alone, the company acquired UK-based Covalent Software Ltd and IPI Solutions Ltd while Bulgaria’s Logen Ltd was also added to the wider Group.
“Even in tough economic circumstances,” says Raymond Greaves, finnCap’s head of research. “Companies with good ideas, innovative technology, clever business models and strong management can generate their own luck and continue to thrive.”