Call me a conspiracy theorist all you like, but I've called this play from when the share price was 30% lower a week or so ago. The company experienced a massive drop in share price when they changed their accounting method to an annualised recurring revenue model, which would discount all the previous revenue accounted prior to this financial year's balance sheet. On paper it made them loss making, despite a 97% customer retention rate, healthy dividend and very active share buyback scheme.
Now the company has mentioned they have secured two new logos (contracts) and since then their share buyback has seen an aggressive shift (not including their directors insider buying of the stock). They also announced yesterday a massive incentive package for the two directors based on growth and today a new RNS showing one of their largest share buybacks in a single day.
I'm holding. Fair value is higher than the current price and I've just got this idea in my mind that there's a big announcement coming at the Q&A in August.