Benign Market Conditions Support IRESS Share Price
Narrow moat-rated IRESS shares have performed well over the past six months despite a lack of news flow. The 6% share price increase has outpaced the flat performance of the S&P/ASX 200 Index but we don’t believe the outlook for the company has materially improved over this period. At the current market price of AUD 12.76, we continue to believe the shares are overvalued relative to our fair value estimate of AUD 10.70. The fiscal 2017 P/E ratio has expanded over the past six months to 26, f...IRESS is engaged in the provision of information, trading, compliance, order management, portfolio and wealth management, and lending systems and related tools. Co.'s main clients are financial markets and wealth management participants in Australia, New Zealand, South East Asia, Canada, South Africa and the U.K. Co. provides solutions to clients using three core platforms: IRESS (market information and trading platform), XPLAN (wealth management and advice platform), and Mortgage Sales and Originations (lending automation and processing platform). Core business activities of Co. are carried out within three main divisions being financial markets, wealth management, and enterprise lending.
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.
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