Technology One’s Cloud Growth to Drive Margin Expansion; FVE Increased to AUD 5.80
Narrow-moat Technology One’s fiscal 2017 result provided further evidence that the company can continue to quickly expand its cloud business and expand group profit margins in the process. We still believe the company will generate a revenue CAGR of around 11% over the next decade, below the 13% CAGR achieved over the past decade, but we now believe EBIT margins will expand to 31.4% rather than our previous assumption of 29.9% by fiscal 2027. Our more bullish forecasts have resulted in a 12% inc...Technology One is engaged in the development, marketing, sales, implementation and support of enterprise business software solutions. Co.'s segments are: Sales and Marketing, which is involved in the sales of license fees and customer support; Consulting, which is involved in the implementation, consulting services and custom software development services for large scale, purpose built applications; Research & Development, which is involved in research development and support; Cloud, which is involved in the delivery of cloud hosting services; and Corporate, which is involved in the aggregation of the corporate services functions' costs and revenue, and corporately-funded projects.
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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