Company Reports

Wolters Kluwer's first-half organic growth of 5% was in line with the company-compiled consensus; over 90% of US enterprise customers have now adopted UpToDate Expert AI, and 2026 growth guidance was trimmed for the corporate performance and ESG segment. Shares fell 2% on Aug. 5.

Wolters Kluwer, based in the Netherlands, is a global provider of business information, software, and services. It generates revenue mainly by creating and selling access to information databases, analytics, and journals; selling software for professional accountants and for businesses to manage their compliance requirements; and legal services for businesses such as registered agent services and due diligence.

Wolters Kluwer's first-quarter trading update reported 5% organic growth with the segment broadly tracking 2026 guidance. Regardless, shares fell 7% on May 7.

We think Wolters Kluwer remains materially undervalued despite the credible risk of artificial intelligence disruption, particularly in its health segment.

We reviewed our moat ratings in the global technology and information services' sectors due to potential disruption from artificial intelligence.

Wolters Kluwer, based in the Netherlands, is a global provider of business information, software, and services. It generates revenue mainly by creating and selling access to information databases, analytics, and journals; selling software for professional accountants and for businesses to manage their compliance requirements; and legal services for businesses such as registered agent services and due diligence.

Wolters Kluwer's fourth-quarter results and 2026 guidance were broadly in line with company-compiled consensus. Shares rose 3% on Feb. 25.

On Feb. 3, Thomson Reuters, RELX, and Wolters Kluwer's stocks fell 16%, 14%, and 13%, respectively, after Anthropic released a legal plug-in for its Claude product.

Wolters Kluwer's year-to-date organic growth of 6% is tracking in line with company guidance. A new EUR 200 million share buyback was announced. Shares rose 2% intraday Nov. 5.

Wolters Kluwer's first-half results delivered in-line 5% organic growth but a 190-basis-point increase in operating margin that beat company-compiled consensus. Shares rose 2%.

Wolters Kluwer, based in the Netherlands, is a global provider of business information, software, and services. It generates revenue mainly by creating and selling access to information databases, analytics, and journals; selling software for professional accountants and for businesses to manage their compliance requirements; and legal services for businesses such as registered agent services and due diligence.

Wolters Kluwer's organic revenue growth was 5% in the first quarter, in line with guidance. 2025 guidance was maintained. We refresh our forecast after considering its recent results and strategy update.

Despite in-line 2024 results and 2025 guidance, Wolters Kluwer shares were down 10% intraday on Feb. 26. We think the negative reaction was due to the new CEO announcement and lower-than-expected growth in the corporate performance and ESG segment.

Wolters Kluwer reported 6% organic revenue growth for the year to date in its third-quarter trading update. Fiscal 2024 guidance was confirmed. Shares were down around 1% intraday.

Wide-moat Wolters Kluwer reported first-half results that were broadly in line with company-compiled consensus. Group-level guidance for fiscal 2024 was confirmed although some modest changes were made within the segments. Shares were down around 3%-4% intraday. We don’t expect to make a material change to our EUR 137 fair value estimate. At current levels, the shares look overvalued.

Wolters Kluwer reported solid results in its first-quarter trading update. Organic revenue growth was 6%, which is tracking in line with FactSet consensus and our estimate for fiscal 2024. In addition, Wolters Kluwer asserted the first-quarter EBIT margin increased (the actual number was not disclosed). Fiscal 2024 guidance was confirmed. We don’t expect to make a material change to our EUR 137 fair value estimate.

We’re initiating coverage of RELX, Wolters Kluwer, and Clarivate; three companies in the business information industry that provide curated data, analytics, and software solutions to a variety of professionals in academia, health, law, finance, government, and others. RELX has a wide moat, fair value estimate of GBX 3,650, and 4-star rating. Wolters Kluwer has a wide moat, a fair value estimate of EUR 137, and 2-star rating. Clarivate has no moat, fair value estimate of EUR 137, and 3-star rating.

Wolters Kluwer, based in the Netherlands, is a global provider of business information, software, and services. It generates revenue mainly by creating and selling access to information databases, analytics, and journals; selling software for professional accountants and for businesses to manage their compliance requirements; and legal services for businesses such as registered agent services and due diligence.

We are dropping coverage of Wolters Kluwer. We provide broad coverage of more than 1,500 companies globally and periodically adjust our coverage according to investor interest and staffing.

Wolters Kluwer has over the past decade or so undergone a wholesale reorganization of its business, taking it from being the leading print publisher of professional information materials to being one of the largest players in the potentially much larger digital information services space. This change has come at a cost, however, with the company spending over EUR 2 billion on net acquisitions over the period in order to position itself better in the digital information services market. Wolters’ legacy print business, which is declining at a high-single-digit rate each year, has proved to be a drag on the overall business, with organic revenue growth improving to 4.3% in 2019, the highest level in over a decade, while the proportion of print revenue fell to a new low of 9% in 2020.