It's not difficult to understand why this software company's products are in high demand from the 800 small and medium sized businesses that license them. This technology is delivering value for money and offering corporate clients tangible business benefits as it improves their marketing, sales and logistics.
This win-win situation is being materially undervalued by investors with the company's shares trading on a modest 12 times cash-adjusted earnings estimates for the 2020 financial year - a chunky discount to peers. With a steady recurring and contracted revenue stream, high operational cash flow conversion and benefits of acquisitions to be seen in the 2019-20 financial year, this opportunity looks very compelling.