Value Emerging in Narrow-Moat Rated Technology One
We have long considered narrow moat-rated Technology One to be a high-quality business with an Exemplary stewardship rating, but one that usually comes with a premium price tag. However, recent share price weakness means we now believe the stock is fairly valued, with the market price of AUD 4.96 in line with our AUD 5.00 fair value estimate. At fair value, we expect stocks to generate a fair risk-adjusted annual return, approximately cost of equity which in this case is 9.0%.Recent share price...
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.
We have operations in 27 countries.
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