COVR

CoverAll Technologies

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COVR

CoverAll Technologies

AMEX

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rrat02

06/22/15 5:43 PM

Post #161

COVR shareholders approve merger. See PR.

rrat02

06/03/15 8:46 AM

Post #160

Another new customer....see PR. By my count the Majesco/COVR combo have recently added 8 new customers so as far as licensing revenue they are off to a great start.

rrat02

06/01/15 6:11 PM

Post #159

Additional purchases by Manish Shah, President & CEO:

5/28 1500 @ 1.04

5/28 100 @ 1.05

6/1 3700 @ 1.04

He now owns 963,900 shares.

rrat02

05/27/15 5:28 PM

Post #158

Insider purchase:

Manish Shah, President & CEO

5/22 3500 @ 1.05
5/26 200 @ 1.05

now owns 958,680 shares

rrat02

05/19/15 11:07 AM

Post #157

Majesco's largest customer is State Farm.

rrat02

05/14/15 9:44 PM

Post #156

If all goes well the merger will close on 6/26 and MJCO will begin trading on 6/29.

rrat02

05/14/15 11:49 AM

Post #155

COVR stockholders meeting to vote on the merger will be on 6/22. Majesco expects the merger to be consummated shortly thereafter.

rrat02

05/12/15 10:08 AM

Post #154

If all goes well the merger will be completed in July. Majesco just announced that it has added 4 new customers.

rrat02

05/12/15 10:06 AM

Post #153

Signed 3 new contracts. See PR.

rrat02

05/09/15 11:13 AM

Post #152

Seeking Alpha article: The Merger Makes Sense For COVR and Shareholders

rrat02

04/02/15 6:01 PM

Post #151

Director Steven R. Isaac has made a number of recent purchases. Pretty much all of them are 400-600 shares so by no means a large block though.

rrat02

04/02/15 5:57 PM

Post #150

Have been a number of recent PR's. The merger appears to be on track and hopefully will be completed in either June or July.

rrat02

02/20/15 8:00 AM

Post #149

Very informative CC which included top management from Majesco. One of the presentation slides is pro-forma financials. A transcript of the CC can be found on Seeking Alpha.

rrat02

02/17/15 5:52 PM

Post #148

Majesco UK....see PR. Definitely a positive as they are making progress on the merger.

rrat02

02/12/15 11:24 PM

Post #147

4th quarter & full year results on 2-19-15....see PR.

CC and webcast will include joint presentation on the merger with the management of Cover-All and Majesco.

rrat02

01/19/15 7:39 AM

Post #146

There is a Majesco Investor & Analyst Presentation (dated 12-15-2014) that can be accessed on the Mastek website. Click on "Investors" and you will see it.

rrat02

12/22/14 5:56 AM

Post #145

12-15-2014

SC 13D

Reporting Persons: Majesco

7,634,400 shares

28.5%

rrat02

12/20/14 1:47 PM

Post #144

Deal has many moving parts. Think the easiest way to view it is that as a COVR shareholder would you rather have 16.5% of a company with $100+ million in revenue AND decent growth prospects or have 100% of a company with just over $20 million in revenue and extremely slow growth (struggling to win new customers)?

As far as valuation one can speculate as to what the P/S ratio of the new company will be. If the multiple is four (i.e. valuation of $400 million) then COVR shareholders will be at approx. $2.50 per share. GWRE has a P/S multiple of 9+..........

For what it's worth Wall St. loves a pure play story that is highly acquisitive. From what I gather that seems to be the plan.

rrat02

12/14/14 10:00 PM

Post #143

Merger announced. See press release.

rrat02

11/18/14 10:59 AM

Post #142

New Shareholder. Reporting as of 9/30/14:

FCG Advisors, LLC. owns 1,505,724 shares (5.65%).

rrat02

11/18/14 10:57 AM

Post #141

Going forward I see 2 possible scenarios:

1) "transformative" deal is agreed to. My guess is that this would involve COVR being acquired by a bigger company in an all stock transaction.

2) continue as an independent company and hopefully will have some new licensing contracts to announce soon. It was mentioned on the CC that there are 5 potential deals where customers are close to making a decision as to what vendor they will use.

Personally I'm rooting for #1 as I think that it would be helpful if COVR were part of a bigger company. Manish mentioned that the deal would allow COVR to offer a number of additional products, etc.

rrat02

11/18/14 10:50 AM

Post #140

Without mentioning any details Manish said that a decision in regards to the "transformative" M & A transaction should be made before year end. We have absolutely no idea as to who the other company is.

rrat02

11/18/14 10:47 AM

Post #139

Q3: Despite having only $34,000 in licensing revenue the company still had a PROFITABLE quarter. Indicative that costs/expenses are being well managed. Future licensing revenue should pretty much flow right to the bottom line.

rrat02

10/31/14 8:20 AM

Post #138

Q3 Earnings & CC will be on 11/13. After the close.

rrat02

08/13/14 9:54 AM

Post #137

The transcript from the CC is available on Seeking Alpha. Sounds as if an acquisition/merger will be announced sometime this year.

rrat02

08/06/14 8:41 AM

Post #136

2Q earnings & CC.

Tuesday, 8/12

Both after the market closes.

rrat02

07/15/14 8:13 AM

Post #135

BUSINESS UPDATE: PR was issued this morning. Very positive.

rrat02

07/11/14 2:12 PM

Post #134

Unusually high volume today.

rrat02

05/19/14 1:17 PM

Post #133

CC:

- Increased Professional & Support Services revenue guidance by $1 million. Not counting licensing fees revenue in 2014 should be at least $18 million.

- the amortization schedule for capitalized software is now based on 5 years....previously was 3.

- hired SM Berger & Co. as the new IR firm

- upgraded the corporate web site....it does look much better.

- there were not any audience questions

rrat02

05/19/14 12:41 PM

Post #132

From the earnings PR some insight into what management is thinking in regards to possible acquisitions.

"To support our organic growth strategies, we believe there are opportunities for accretive acquisitions. We are seeking acquisitions that create enterprise-wide solutions, develop cloud, mobile, and analytic products, and complement our business processing services."

rrat02

05/11/14 11:22 AM

Post #131

Re: #130: @rrat02 - GWRE closed @ $36.40. Is near its

GWRE: new 52 week low and a closing price of $34.85

rrat02

05/08/14 4:29 PM

Post #130

GWRE closed @ $36.40. Is near its 52 week low.

rrat02

05/08/14 9:46 AM

Post #129

Q1 results will be released after the close on Thursday, May 15th.

CC will be at 4:30 p.m. (ET)

rrat02

05/06/14 7:08 AM

Post #128

Annual Shareholder Meeting

6/5/2014

9:30 a.m. (ET)

Hilton Parsippany at One Hilton Court

Parsippany, NJ

rrat02

05/03/14 6:42 AM

Post #127

5-2-14: 8K

"....the Company announced that it has established, effective 5-1-2014, an Acquisitions Committee of the Board, which Committee will be responsible for identifying, evaluating and acquiring suitable targets to help the Company accelerate the execution of its strategic plans. The Acquisitions Committee consists of Manish D. Shah, Earl Gallegos and Steve Isaac."

rrat02

04/01/14 11:41 AM

Post #126

Added Steve Isaac to the Board of Directors.

Manish Shah: "Steve's vast experience in P/C insurance technology and managing several acquisitions will prove a valuable asset as we continue to explore ways for accelerating the growth of the company to improve shareholders' value through means other than organic growth."

rrat02

03/05/14 7:58 AM

Post #125

Look at GWRE's P/E and P/S ratios!! Unbelievable!!

rrat02

03/04/14 12:53 PM

Post #124

Seeking Alpha article. Author did a good job. Hopefully will bring attention to the stock.

rrat02

02/24/14 6:38 AM

Post #123

CC: Definitely worth a listen. Some highlights were:

- 2014 sales are starting with a base of approximately $17 million

$8.5 million in support revenue
$7.5 million in client services revenue
$775,000 in deferred licensing revenue which will be recognized in Q1

- the company reorganization will result in annualized cost savings of $1.5 million in 2014

- before starting the Q & A session Manish Shah said:

" I continue to work with the Board of Directors to explore ways for facilitating the growth of the company to improve shareholder value through means other than organic growth."

rrat02

02/14/14 5:00 AM

Post #122

Q4 and full year results will be released on Thursday, 2/20 after the close of trading. The CC will start at 4:30 p.m. (ET).

Interestingly last year the reporting date was a full month later (3/20/13).

rrat02

01/09/14 7:44 AM

Post #121

PR from 1-7-2014: Promotion of Aaron Herrmann to Senior VP of Sales and Marketing. My take is that COVR is going to increase the size of its sales force. This possibility was mentioned on the most recent CC.

rrat02

12/20/13 4:24 PM

Post #120

PR on 12-19-13. Dev Studio officially released. 4 current customers have already licensed it. Could be wrong but my recollection is that on one of the CC's it was mentioned that at that time 2 licenses had been pre-sold.

rrat02

12/02/13 9:12 AM

Post #119

RANDOM THOUGHTS. My guesstimate is that 2013 revenue will be right around $21 million. Continue to be surprised that the stock price is not at least 2X revenue which would be $1.60 per share. My thinking is that if COVR can increase the 2014 top line to at least $23 million AND the cost savings measures that were discussed in the recent CC are in fact successfully implemented then we should hopefully see a P/S multiple of 2.5 to 3.0. That would be a stock price ranging between $2.18-2.62.

Of course the potential catalysts are the announcement of new sales contracts and hopefully more licensing agreements.

rrat02

11/04/13 11:44 AM

Post #118

CC #5: During the Q&A Bill Chapman (Morgan Stanley) asked about valuation and management's position on being acquired, etc.

CEO Manish Shah replied:

- the company is open to legitimate offers

- strongly believes that the stock is undervalued

- COVR products getting "rave reviews" from industry analysts

rrat02

11/04/13 7:27 AM

Post #117

CC #4: 2014 Partial Revenue Guidance.

- will be starting with a base of approximately $15 million.

- $8.5-9.0 million of recurring revenue

- $6.0-6.5 million in professional services

- do not give forward guidance on licensing revenue.

rrat02

11/04/13 7:13 AM

Post #116

CC #3: Alliance with MXS

- first of hopefully many alliances to come

- opens up completely different market space

- will take some ramping up to build significant revenue

- for COVR the sales will be annual subscriptions (i.e. recurring revenue)

rrat02

11/03/13 12:00 PM

Post #115

CC #2: Starting in 2014 the previously announced reorganization will result in annualized cost savings of $1.5 million. Savings have already begun in 2013 Q4. There was a charge in the recent quarter but no additional reorganization charges are expected.

rrat02

11/03/13 11:47 AM

Post #114

CC #1: Have 3 completed deals that will be recognized in Q4...approximately $1 million in licensing revenue.

rrat02

10/26/13 11:29 AM

Post #113

Q3 results and CC on Thursday, 10/31. After the close. Hoping that we will hear some additional info about the recent licensing agreement.

rrat02

10/20/13 11:27 AM

Post #112

Price/Sales. Assuming revenue of $20 million COVR is selling at approximately 1.6 X sales. The P/S for GWRE is 9+. My hope is that COVR can increase sales to $25 million while at the same time expanding the P/S multiple to at least 3. If so the stock would be right around $3 per share.

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CoverAll Technologies (COVR)

Followers	4	Posters	14
Posts (Today)	0	Posts (Total)	161
Created	03/21/03	Type	Free
Moderators

Cover-All Technologies Inc.
412 Mt. Kemble Avenue
Suite 110C
Morristown, NJ 07960
United States
Phone: 973-461-5200
Web Site: http://www.cover-all.com

- Serving Property & Casualty Industry since 1981

- Evolving from provider of a niche solution to enterprise-wide solutions through development & acquisition

PRODUCTS

Software and services targeting Property & Casualty core operations and business intelligence.

STRENGTHS

Software Design
Insurance Expertise
Technology I/P & Inventory
Customer Base
Recurring revenue model with multi-year contracts

BUSINESS MODEL

License & Support

- Perpetual or Subscription License

- Recurring Support revenue from renewable multi-year contracts

- Growth through new products, services and product expansions

Services

- Initial implementation & ongoing modifications

- 100% service performed by COVR, customer or consultant.

- Onshore & offshore scalable staffing model.

- listed on NYSE: MKT - COVR

- Employees: 80 full time, 95 dedicated offshore

********************LIST OF CUSTOMERS / SIGNED CONTRACTS***************************

1.
2.
3.
4.   ACE Puerto Rico  ( PR on 11/6/2012)   Upgrade/Renewal
5. Mountain West Farm Bureau Mutual (PR on 11-12-2012)   NEW Customer
6. Triple-S Propiedad - Puerto Rico (PR on 1-8-2013)   Upgrade/Renewal
7. Society Insurance (PR on 2-21-2013)   NEW Customer
8. Tier 1 Multinational Insurer - to handle their strategic commercial lines business for
their U.S. operations (PR on 4-2-2013)   NEW Customer
9. Nationally-known Tier 1 Insurance Company (PR on 4-18-2013)   Upgrade/Renewal
***from the PR on 6-20-2013 think that this is Old Republic***
10. Upgrade/Renewal. PR on 7-16-2013.
11, Upgrade/Renewal. PR on 7-16-2013.
12. Upgrade/Renewal. PR on 7-16-2013.
13. A division of a nationally well-known Tier I insurance company - Business Intelligence Suite software. PR on 8-20-2013.
14. Antilles Insurance (PR on 9-4-2013) Upgrade/Renewal
15. SECURA Insurance (PR on 9-18-2013) Upgrade/Renewal
16. Allied World U.S. (PR on 9-26-2013) NEW Customer

**************************************************************************************************