There aren't many ASX shares that have performed as strongly as Bravura Solutions Ltd (ASX: BVS) over the past 12 months. As the chart below shows, the stock has climbed 180% in the last year.
And there could be more to come, according to one fund manager.
The investment team at Wilson Asset Management (WAM) looks for the "most compelling undervalued growth opportunities" in the Australian market.
WAM's portfolio currently includes names like Life360 Inc (ASX: 360), CAR Group Ltd (ASX: CAR), G8 Education Ltd (ASX: GEM), Gentrack Group Ltd (ASX: GTK), and Tuas Ltd (ASX: TUA).
Bravura Solutions isn't currently one of the portfolio's biggest positions, but the investment team is optimistic about the business.
Wilson Asset Management describes Bravura Solutions as a global provider of innovative technology for the financial services industry.
Its offering includes wealth management, pensions and funds administration.
WAM pointed out that the ASX share upgraded its FY25 guidance last month and announced that it intended to recommence dividend payments.
Bravura Solutions' upgraded operating profit (EBITDA) guidance is now between $41 million and $44 million, up from previous guidance of $36 million to $40 million. The revenue projection is now between $240 million and $245 million, up from a guidance range of $235 million to $240 million.
The investment team noted that this upgraded guidance followed the "successful transformation and execution of business strategy over the past 18 months, which focused on resetting and re-energising the business."
Bravura Solutions plans to resume dividend payments in March 2025 and deliver a capital return of at least 16.3 cents per share, which is scheduled for 30 January 2025. According to WAM, this signals the "profitability and robust cash generation of the business." Bravura Solutions also highlighted its "strong balance sheet" when it gave the dividend update.
WAM concluded thoughts on the ASX share with the following:
The positive developments drove investor confidence and we believe this will continue into 2025.
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