Wisetech Remains Overvalued Despite Its Acquisition Spree
We maintain our fair value estimate for narrow-moat-rated Wisetech Global at AUD 5.50 per share following its acquisitions of South American freight forwarding companies Forward and Softcargo, and French customs solutions provider EasyLog. These acquisitions will cost between AUD 10 million and AUD 25 million, depending on earn-outs, which is immaterial relative to our AUD 1.5 billion valuation of Wisetech’s equity. The latest acquisitions bring the total number of acquisitions this financial ye...WiseTech Global is engaged in providing software solutions to the logistics industry across more than 125 countries. Co. develops, sells and implements software solutions that enable logistics service providers to facilitate the movement and storage of goods and information domestically and internationally. Co.'s customers range from small and mid-sized regional or domestic enterprises to large multi-national companies.
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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