Business overview

Cartrack was established in 2001 and is headquartered in Johannesburg, South Africa. Cartrack Holdings Ltd trades its shares on the JSE under the stock symbol CTK. Cartrack is an investment holding company that specialises in the provision of analytical solutions for mobile asset management and recovery, and workforce optimisation specifically based on a software-as-a-service platform. Cartrack is designs, develops and installs telematics technology and a variety of other products. It also offers solutions pertaining to fleet management and stolen vehicle recovery. Cartrack serves a variety of small, medium and large fleets. The company also offers its products and services to businesses and consumers in 23 countries across Africa, Europe, North America, the Asia-Pacific and the Middle East.

Share price and performance

CTK share performance over the past year has almost doubled; from R2 599 per share on December 3 last year to R4 249 currently. Shares experienced a sharp decrease during March when it dropped to R1 751 on the 18th. After this, share prices showed a gradual increase, and even a few peaks on July 9 at R2 666, August 7 at R3 075 and September 11 at R3 237. However, it was on September 23 at a price of R3 270 that share prices started seeing sharp increases. From here, the price spiked to R4 170 on October 8, R4 700 on October 15, and to the all-year high of R4 791 on November 9. The current consensus forecast, according to analyst coverage, is on a 100% buy, and the current share price before market close is an average of R4 249.