SimCorp shares fall on Q3 miss, no new client deals

SIMCORP A/S

12/11/2021 09:37

** Shares of Danish IT company SimCorp  SIM.CO  fall 6%
after missing consensus in Q3, with UBS citing no sign of new
client deals in the quarter
    ** UBS says Q3 sales were 7% short of consensus
    ** "In Q3, no new client wins were announced after 4 in Q2, 
but 2 significant transformational Dimension deals with existing
clients were announced," the broker adds
    ** "We expect a negative reaction this morning after the Q3
miss, albeit given the guidance being confirmed, we expect
consensus to remain broadly unchanged"
    ** Including today's fall, the stock has lost 15% YTD

 (Reporting by Ina Kreutz)
 ((ina.kreutz@thomsonreuters.com))