Why the Bravura Solutions Ltd (ASX:BVS) share price is going nuts

Bravura Solutions Ltd (ASX: BVS), the software provider to wealth management and funds administration clients has secured a long-term contract with Legal and General Investment Management Limited (LGIM).

LGIM is a large European asset manager and is the investment management arm of Legal & General Group, a FTSE 100 company listed on the London Stock Exchange.

According to the announcement, the contract is for the implementation of the Sonata platform which is expected to “provide LGIM with the flexibility required for accelerated product development and delivery across personal investing and other selected business lines to accelerate their digital transformation journey”.

Bravura shares were up 3% today following the announcement. Bravura has been a top performing company as demand for its Sonata platform grows. Its share price has gone nuts and is up 110% over the last year.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

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The Motley Fool Australia owns shares of Bravura Solutions Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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