Directors deals: New Capita chairman buys in

Powell picked up 3,000 shares at an individual price of 701p for a total disbursement of £21,015.00, the company said in a statement published the next day.

He took up his post on 1 January 2017, in replacement of Martin Bolland.

On 29 June, analysts at HSBC revised their target price on Capita's shares from 590p to 820p and upgraded their recommendation from 'hold' to 'buy'.

Its analysts recommended that Capita's yet-to-be-named new chief executive lay out plans to simplify its business and to deliver upon them.

"Capita is a good business, it creates process solutions for the public and the private sector, and there will be demand. Focus on de-cluttering, simplifying, and understanding the risks inherent in long contracts, and complex accounting," the broker said.

Linked to the above, on 13 June the outsourcer reported "good progress" on its restructuring and said the turnaround of its IT Services was progressing better than expected, three months after its chief executive resigned and the outsourcing group was dumped out of the FTSE 100.

The search for a new chief was still at the final shortlist phase, Capita said then, but the new divisional management was bedding down well.

Top Director Buys

Stagecoach Group (SGC)
Director name: Paterson,Ross
Amount purchased: 15,000 @ 186.15p
Value: £27,922.26

Capita (CPI)
Director name: Powell,Ian
Amount purchased: 3,000 @ 700.50p
Value: £21,015.00

Prudential (PRU)
Director name: Turner,Lord J Adair
Amount purchased: 1,000 @ 1,801.85p
Value: £18,018.50

Cap-xx Limited (CPX)
Director name: Ferguson Grey,Bruce
Amount purchased: 150,611 @ 8.72p
Value: £13,139.30

Cap-xx Limited (CPX)
Director name: Elliot,Patrick
Amount purchased: 150,611 @ 8.72p
Value: £13,139.30

Phoenix Global Mining Limited (di) (PGM)
Director name: Edwards-Jones,Marcus
Amount purchased: 250,000 @ 4.10p
Value: £10,250.00

Lekoil Ltd (di) (LEK)
Director name: Eckersley,Gregory
Amount purchased: 50,000 @ 16.35p
Value: £8,175.00

Challenger Acquisitions Limited (CHAL)
Director name: Gustafson,Mark
Amount purchased: 150,000 @ 2.30p
Value: £3,450.00

Maintel Holdings (MAI)
Director name: Stevens,Kevin
Amount purchased: 17 @ 893.00p
Value: £151.81

Maintel Holdings (MAI)
Director name: Legg,Stuart
Amount purchased: 17 @ 893.00p
Value: £151.81

Direct Line Insurance Group (DLG)
Director name: Maddock,Steven
Amount purchased: 42 @ 357.45p
Value: £150.13

Direct Line Insurance Group (DLG)
Director name: Reizenstein,John
Amount purchased: 42 @ 357.45p
Value: £150.13

Top Director Sells

Randall & Quilter Investment Holdings (di) (RQIH)
Director name: Randall,Ken
Amount sold: 3,631,012 @ 147.00p
Value: £5,337,587.74

Homeserve (HSV)
Director name: Bennett,Martin
Amount sold: 360,573 @ 746.83p
Value: £2,692,870.21

Randall & Quilter Investment Holdings (di) (RQIH)
Director name: Quilter,Alan
Amount sold: 1,400,000 @ 147.00p
Value: £2,058,000.04

Homeserve (HSV)
Director name: Ford,Johnathan
Amount sold: 260,190 @ 746.83p
Value: £1,943,179.05

Homeserve (HSV)
Director name: Rusin,Tom
Amount sold: 115,467 @ 746.83p
Value: £862,343.12

Polar Capital Holdings (POLR)
Director name: Woolley,Tim
Amount sold: 150,000 @ 433.00p
Value: £649,499.99

Polar Capital Holdings (POLR)
Director name: Ashford-Russell,Brian J D
Amount sold: 115,000 @ 433.00p
Value: £497,949.99

Advanced Medical Solutions Group (AMS)
Director name: Meredith,A Christopher (Chris)
Amount sold: 76,604 @ 301.80p
Value: £231,192.01

Advanced Medical Solutions Group (AMS)
Director name: Tavener,Mary G
Amount sold: 54,519 @ 301.80p
Value: £164,539.15

Homeserve (HSV)
Director name: Bower,David
Amount sold: 13,388 @ 746.83p
Value: £99,985.71