Wolters Kluwer, the Euronext Amsterdam-listed professional services firm, has continued its share buyback program initiated on February 22, 2023, with the goal to repurchase up to €1 billion worth of shares during 2023. As of today, the company has repurchased 249,733 shares at an average price of €118.04 for a total of €29.5 million.
From November 2 to December 27, 2023, a third party will execute €197 million in share buybacks as part of the program. The repurchased shares are held as treasury shares and are expected to be used for capital reduction or fulfilling obligations from share-based incentive plans.
Wolters Kluwer's forward-looking statements suggest potential deviations in actual outcomes due to various factors such as market conditions, customer and competitor behavior, technological advancements, and legal rules affecting its businesses. However, the company has not specified any particular risks that could influence these results.
The company reported €5.5 billion in revenues in 2022 and operates globally with a workforce of around 20,900 people. It is headquartered in Alphen aan den Rijn, the Netherlands and is included in both the AEX and Euronext 100 indices.
InvestingPro Insights
In line with the recent developments at Wolters Kluwer, InvestingPro provides some insightful tips and data. Firstly, it's worth noting that the management's aggressive share buyback aligns with the InvestingPro Tip that the management has been aggressively buying back shares. This strategic move is a positive sign, as it often indicates that the company's leadership believes its shares are undervalued.
Secondly, the company's consistent increase in earnings per share is another InvestingPro Tip that resonates with Wolters Kluwer's performance. This indicates a solid financial health and potential for future growth.
On the data front, InvestingPro data shows impressive gross profit margins for Wolters Kluwer. This is a key metric that reflects the company's profitability after accounting for the direct costs associated with producing the goods and services it sells.
Moreover, the company's stock is trading at a low P/E ratio relative to near-term earnings growth. This could suggest that the market has yet to fully recognize the company's earnings growth potential, making it an attractive investment opportunity.
Lastly, despite the recent share buyback, Wolters Kluwer operates with a moderate level of debt, another positive sign for potential investors.
These insights are just a few of the many valuable tips and data points that InvestingPro offers. To delve deeper into the financial health and performance of Wolters Kluwer or any other company, consider exploring the InvestingPro platform.
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