The Panoply Holdings (TPX:AIM) 111.3p

Gain to date: 23.7%

Original entry point: Buy at 90p, 6 August 2020

While shares in digital enabler consultancy The Panoply Holdings (TPX:AIM) have lost some of the momentum they enjoyed in September, we are still sitting in a healthy position having flagged the appeal of the stock in August.

The company has announced several significant items of news including the £8.8 million acquisition of Difrent (8 Sep) – a business focused on providing digital consulting services to the health and social care sectors.

This represented a further step in its three-year plan to use its shares and cash flow to make acquisitions which can boost revenue by £35 million.

On 14 September the company said it was confident of meeting its recently upgraded annual earnings expectations amid strong trading.

Chairman Mark Smith said Panoply had signed around £10m of new contract wins in the first two months of the current quarter, including a £1.8m contract with Cheshire West and Chester Council.

This underpins our faith in the ability of the company to benefit as Covid-19 pushes businesses and organisations to get their digital plans up to speed.

SHARES SAYS: We remain fans of Panoply as it executes on its medium-term growth plan. Keep buying the shares.

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