Serko upgraded to ‘outperform' by Forsyth Barr
Forsyth Barr has upgraded its rating of ASX and NZX-listed travel software business Serko based on a belief the company can restore confidence in its revenue growth trajectory by meeting the midpoint of its FY26 income guidance.
Analysts James Lindsay and Will Twiss wrote in a research note issued
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1News
11 hours ago
- 1News
What is going on with Briscoes shares?
Briscoes shares have had a boost in recent days, ahead of the company moving into the top 50 stocks on the NZX share market tomorrow. Falling share prices pushed The Warehouse out of the NZX50, and Briscoes will take its place. That means that passive managed funds that benchmark their funds to the NZX50 will snap up stocks in the company too. Its share price has lifted from less than $5 at the start of the month to $6.19 on Thursday. Greg Smith, head of retail at Devon Funds, said there had been a lot of pre-buying ahead of Briscoes moving up on Monday morning. He said that meant the bump in share price was unlikely to be so significant. ADVERTISEMENT "Going into the 50 means it is a lot more relevant to institutional managers although with Rod Duke owning nearly 80% of the stock, getting liquidity will be an issue." Greg Bunkall, data director at Morningstar, said the number of passive funds benchmarked to the NZX50 would not be large. "Maybe 10 or so share classes, both traditional managed funds and ETFs. "There may also be some of the ESG tilted options, which, depending on the screen might be impacted - then there is also the multi asset funds which have the index fund as a part of the overall portfolio." 'Self-cleansing mechanism' Dean Anderson, founder of Kernel KiwiSaver, said it was relatively unusual for stocks to move in and out of the top 50. "Every quarter, major benchmarks like the S&P/NZX 50 undergo a rebalance, testing each company's eligibility for the index and where underperforming companies can be dropped and stronger ones added. ADVERTISEMENT "This self-cleansing mechanism ensures indices stay relevant-poor performers are replaced by those that have grown in value, often overtaking the bottom-ranked company in the index. "In a small market like New Zealand, though, such changes are rare, often one or two changes in a year, making them all the more noteworthy when they happen, with the last change to the S&P/NZX 50 index rebalance occurred in December 2023." He said the Briscoes share price had already lifted 28% since it was announced it was going into the top 50. Some investors had sold shares in The Warehouse. "Globally, this isn't unusual. Studies show that stocks added to major indices like the S&P 500 often see short-term price spikes of 3% to 8% in the days leading up to inclusion, driven by speculative buying and index fund rebalancing. "However, the scale in these spikes is falling and these gains frequently fade within weeks as the initial hype subsides - which can leave some speculative investors out of pocket." He said some active manager might be trying to game the rebalance by betting on short term movements but the risks could outweigh the rewards. Sam Stubbs, founder of Simplicity KiwiSaver, said his funds were benchmarked against the top 30. He said beyond the top 30, it could be hard to buy and sell shares. He said Briscoes' presence in the index was likely to be weighted so that only 20% of the company's value was reflected because of Duke's significant holding.
Techday NZ
4 days ago
- Techday NZ
DataSentinel appoints Peter Ward to boost Australian services
DataSentinel has appointed Peter Ward as Strategic Advisor to support its expansion and service delivery in Australia. The decision comes as DataSentinel seeks to meet increasing demand for specialist data and analytics services from Australian organisations and aims to enhance its partner ecosystem across the country. Peter Ward, widely recognised in the data industry, previously established Wardy IT Solutions in 2004, growing it into a prominent SQL Server consulting and managed services provider before its acquisition by MOQdigital, an Australian Stock Exchange-listed company, in 2019. He has since held several advisory and leadership positions within the data and technology sector, including roles at MOQdigital and Dijital Team. Ward is known in professional circles as a long-term Microsoft Data Platform MVP and is regarded as a respected authority on data platform modernisation, analytics, and governance in the region. Paul Capstick, Chief Executive Officer of DataSentinel, highlighted the significance of Ward's appointment in a statement. "Peter's track record building Wardy IT Solutions into Australia's leading SQL Server consultancy, and guiding multiple technology ventures since, will be invaluable as we deepen our relationships with Australian partners and customers," said Capstick. "He understands the unique pressures IT leaders face, and how partners can bring lasting value to their customers when they're equipped with the right data expertise." The new appointment is part of DataSentinel's approach to addressing shifts in how organisations manage, govern, and capitalise on data assets. According to analysis from industry bodies, worldwide data and analytics services are forecast to exceed USD $150 billion in 2025, with Australia and New Zealand cited among the fastest-growing markets. IDC research suggests that by 2026, 80% of organisations in the Asia-Pacific region will have formal data governance frameworks in place, prompted by requirements to support artificial intelligence projects and meet stricter regulatory obligations. In this landscape, Australian businesses are facing increasing complexity. The expansion of cloud platforms, greater data volumes, and growing expectations for real-time insights are contributing to the need for specialist skills and services. Many enterprises now seek partners with a strong technology foundation and the capacity to offer both operational support and strategic guidance. Founded in New Zealand in 2019, DataSentinel has provided managed database services, consulting, and analytics support across Australasia, formalising its presence in Australia recently. The company now works with a growing base of commercial and public sector clients in both countries. DataSentinel's approach emphasises supporting IT service providers—including managed service providers, system integrators, and cloud specialists—by enabling them to deliver database and analytics solutions without developing in-house capabilities. "Partners are under pressure to broaden their services and address their customers' evolving data needs, especially as generative AI and data science become boardroom priorities," said Capstick. "By working with DataSentinel, they can tap into deep technical expertise while maintaining ownership of the customer relationship." As Strategic Advisor, Ward will collaborate closely with DataSentinel's leadership, shaping the business's Australian strategy, engaging with partners, and assisting with new service development. "I'm excited to work with DataSentinel's talented team," said Peter Ward. "Their reputation for practical, outcomes-driven database and analytics services is already resonating in Australia. Together we can help more organisations modernise their data estates and use insights to accelerate growth." The increasing reliance of businesses on data as a strategic asset brings new challenges. Many organisations confront hurdles such as shortages in specialist skills, legacy technology constraints, and a more demanding regulatory environment. "The data landscape is more complex than ever, and businesses are looking for trusted advisors who can help them navigate it," said Ward. "DataSentinel is well positioned to play that role, with a proven track record and a partner-centric model that scales." DataSentinel anticipates ongoing growth across its Australasian operations and plans to further expand its partnership network in the year ahead. The company aims to assist more Australian organisations in improving their data management, governance, and analysis capabilities in response to evolving market requirements and technological developments.
Scoop
5 days ago
- Scoop
NZX Receives Positive Report Card
NZX continues to receive a positive regulatory report card, with a review by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – finding it has met its obligations while pursuing further enhancements. The annual NZX Market Operator Obligations Review, released today, assesses how well NZX is meeting the requirements for its market operator licence. The report found NZX met all its obligations during the review period from 1 January to 31 December 2024. FMA Director of Markets, Investors, and Reporting, John Horner, said: 'NZX continues to deliver a critical service to New Zealand. 'This report shows businesses and investors can be confident NZX continues to operate in accordance with its market operator licence and is meeting its obligations.' In particular, the review found: Governance arrangements continue to be appropriate and support NZX's ability to comply with its licensed market operator obligations. NZX and NZ RegCo are operating well-developed frameworks and processes, and continually working to further enhance operational effectiveness and resilience. Continued demonstration of NZ RegCo's operational independence, while maintaining an appropriate and effective working relationship with NZX. Maturity and investment in technology and risk management resources, with further enhancement in the review period providing stronger capability, resilience and security. Significant milestones reached in NZX projects designed to further grow NZX's markets, improve investment choices and drive liquidity on the markets. The report has made no adverse findings and two recommendations. The first recommendation is to encourage NZX to continue its plans to explore and test the resiliency and dependencies of participants, including their business continuity plans, and reduce the risks posed by reliance on critical service providers within the ecosystem, where practicable and reasonable. NZX has further enhanced the group's crisis management framework, and successfully completed another crisis simulation event. The FMA recommends NZX continues to assess system recovery arrangements to increase its understanding and test whether further refinements are required for more extreme but plausible events.
