Aveva Group plc (LSE: AVV), is a British multinational software and services company headquartered in Cambridge, United Kingdom. It is the world’s largest engineering software company. The company has more than 4,000 employees in over 40 countries.
Its products are used by more than 500,000 engineers worldwide. Aveva was formed in 1967 as a spin-off from the UK Atomic Energy Authority.
It’s been a tough few months for Aveva shareholders. The stock price has taken a beating, down nearly 30% since the start of the year. But there may be light at the end of the tunnel.
The company announced today that it has agreed to sell its Process Simulation business to Siemens for $140 million. This is a significant move for Aveva, as the sale will help reduce debt and allow the company to focus on its core businesses.
investors responded positively to the news, sending the stock up 5% in early trading.
With the share price still well below its 52-week high, there could be more upside ahead for patient investors.
Aveva Share Price, News
When it comes to share prices, news can have a big impact. And that’s certainly the case with Aveva, whose share price has been on a rollercoaster ride in recent weeks.
The engineering software company saw its shares surge in early February after announcing a major deal with Siemens.
The tie-up will see the two companies combine their industrial software businesses, creating a powerhouse in the sector.
However, just days later Aveva issued a profit warning, sending its shares tumbling. The company blamed Brexit uncertainty and slower-than-expected growth in its core markets for the warning.
Despite the setback, Aveva’s share price has recovered somewhat in recent days and is now trading at around £18.50. That’s still well below the £22 level it reached following the Siemens announcement though.
So what does the future hold for Aveva’s share price?
Well, that largely depends on how Brexit unfolds and whether or not the company can return to strong growth in its core markets. In the meantime, keep an eye on Aveva’s share price and news flow for any further developments.
Credit: currency.com
What is Aveva’S Share Price
Aveva Group plc is a British multinational engineering software company headquartered in Cambridge, United Kingdom. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was formed in 1967 as Associated Electrical Industries Visualization Business Area.
In 1999, it was demerged from AEI to become AVEVA Group plc. In October 2002 Schneider Electric acquired Invensys for £3.4 billion and subsequently sold its software business (including AVEVA) to Cinven and Advent International for £1.8 billion in September 2007.
On 19 June 2018, Aveva announced that it had agreed to merge with French engineering software company SCHNEIDER ELECTRIC SA via a Scheme of Arrangement under Part 26 of the Companies Act 2006 with Aveva shareholders owning approximately 54% of the enlarged group.
. The deal completed on 1 January 2019 creating one of the world’s largest industrial software companies by revenue
Aveva’s share price as of writing this post is 27 GBP (about 34 USD).
How Has Aveva’S Share Price Performed
Aveva’s share price has been on a rollercoaster ride in recent years. The company hit a high of over £30 per share in early 2018, before tumbling to below £20 per share by the end of that year. 2019 was a much more stable year for the company, with shares trading between £23 and £26 for most of the year.
2020 started off well for Aveva, with shares reaching an all-time high of over £32 in February. However, the Covid-19 pandemic sent shockwaves through global financial markets and Aveva’s share price crashed along with the rest of the stock market. The company has since recovered some ground and is currently trading at around £27 per share.
Where Can I Find Aveva’S Share Price History
Aveva’s share price history can be found on their website. Click on the “Investors” tab, then scroll down to the “Share Price” section. Here you will find a chart of Aveva’s share price history, as well as links to download historical data.
What Analysts are Saying About Aveva’S Share Price
Aveva Group plc (LON: AVV) is a British multinational engineering software company headquartered in Cambridge, United Kingdom. It is the largest industrial software company in the world and has been listed on the London Stock Exchange since 2005.
The company develops 3D design, engineering and entertainment software.
Aveva’s products are used across a range of industries including process and power, oil and gas, marine, mining and metals, food and beverage as well as general manufacturing.
In June 2018, Aveva acquired OSIsoft for $5 billion. The acquisition was completed on 1 August 2018.
On 28 September 2018, the Company announced it had agreed to sell its Process Simulation business to Siemens AG for €400 million. The sale was completed on 21 December 2018.
Shares of Aveva Group plc (LON: AVV) have been on a tear lately, up nearly 30% since mid-March 2020.
The rally comes amid growing optimism around the global economic recovery from the Covid-19 pandemic as well as an agreement by Schneider Electric to buy out the company in an all-cash deal worth £3.4 billion ($4.5 billion). Let’s take a closer look at what analysts are saying about Aveva’s share price right now…
Analysts at Barclays raised their price target for Aveva shares from 2200p to 2600p last week while reaffirming their ‘overweight’ rating on the stock.
In a note to clients, the Barclays team said they believe that “the long term outlook for AVEVA remains very attractive” following the completion of its merger with Schneider Electric SE (EPA:SU).
Aveva Share Price Forecast – AVV Aveva Share Price Projection and Analysis
Conclusion
Aveva Group plc (LON:AVV)‘s share price was up 1.4% during trading on Thursday . The stock traded as high as GBX 2,525 ($33.29) and last traded at GBX 2,495 ($32.93), with a volume of 209,466 shares changing hands. The company had a market capitalization of $6.22 billion and a P/E ratio of 28.20.
Aveva has a 52 week low of GBX 1,755 ($23.08) and a 52 week high of GBX 2,583 ($33.99).
The company also recently announced an interim dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be issued a dividend of GBP0.15 per share (the ex-dividend date is Wednesday, November 20th).
This represents a yield of 0%.
