Iress Remains Overvalued Following Soft 2017 Result
Narrow-moat-rated Iress’ fiscal 2017 financial result was soft but broadly in line with our expectations, and we maintain our fair value estimate at AUD 10.20 per share. We continue to believe the shares are overvalued at their current market price of AUD 10.97. Despite the weak result, we expect organic revenue growth to improve as recently developed and acquired software is adopted by new and existing clients. This should drive profit margin expansion due to the operating leverage inherent in ...
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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