DWS plans buyback; cut to Hold

No doubt encouraged by the reaction to SMS Management & Technology's share buyback (see SMS downgraded to Hold on 21 Jul 14 (Hold – $3.92)), fellow IT consultant DWS has decided to conduct its own. This morning the company said it would buy back up to 5% of its shares – currently worth about $8m – starting on 21 August 2014 (following its final results, which are expected on 18 August). The move makes eminent sense, given that it had $16m of net cash at 31 December and that its operations are highly cash generative. Of course we also...

No doubt encouraged by the reaction to SMS Management & Technology's share buyback (see SMS downgraded to Hold on 21 Jul 14 (Hold – $3.92)), fellow IT consultant DWS has decided to conduct its own. This morning the company said it would buy back up to 5% of its shares – currently worth about $8m – starting on 21 August 2014 (following its final results, which are expected on 18 August).

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