Computershare FVE Increased 9% to AUD 12.00 but Remains Overvalued
We have increased our fair value estimate for Computershare by 9% to AUD 12.00 per share following the investor briefing day, during which additional information about the company was provided. Improved disclosure has helped assess the impact of interest rate movements on divisional revenue forecasts and caused us to increase our revenue growth forecasts for the share registry, employee share plan, and business services divisions. The net effect is a 1.5 percentage point increase in our forecast...Computershare is engaged in the operation of investor services, which provides registry maintenance and related services; plan services, which provides administration and related services for employee share and option plans; communication services, which comprise document composition and printing, intelligent mailing, among others; business services, which provides bankruptcy, class action and utilities administration services, voucher services, corporate trust services and mortgage servicing activities; stakeholder relationship management services, which provides investor analysis, investor communication and management information services; and technology services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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