Global Software Undervalued over 20% based on DCF

Temenos

Market Cap: CHF 4.6b

Develops, markets, and sells integrated banking software systems to banking and other financial services institutions in North America, Europe, the Middle East and Africa, Latin America, and the Asia-Pacific.

GitLab

Market Cap: US$5.5b

Develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific.

Trend Micro

Market Cap: JP¥810.0b

Develops and sells security-related software for computers and the internet in Japan, the Americas, Europe, and the Asia Pacific.

Yonyou Network TechnologyLtd

Market Cap: CN¥32.0b

Provides digital software and services to enterprises and public organizations in China and internationally.

LG CNS

Market Cap: ₩6.9t

Operates as an IT service company in South Korea and internationally.

IONOS Group

Market Cap: €4.0b

Provides web presence and productivity, and cloud solutions for companies in Germany, the United States, the United Kingdom, Spain, France, Poland, and Austria.

TISI

Market Cap: JP¥732.7b

Provides information technology (IT) services in Japan and internationally.

Tenable Holdings

Market Cap: US$4.5b

Provides cyber exposure management solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan.

Bechtle

Market Cap: €3.8b

Provides information technology (IT) services in Germany, France, Benelux, and Europe.

Lumine Group

Market Cap: CA$5.7b

Develops, installs, and customizes software, and related professional and support services worldwide.

Box

Market Cap: US$4.0b

Provides a cloud content management platform that enables organizations of various sizes to manage cloud content from anywhere and on any device in Poland, Australia, Canada, the European Union, France, Israel, Japan, Singapore, Switzerland, the United Kingdom, and the United States.

Asseco Poland

Market Cap: zł14.3b

Produces and sells software products worldwide.

Q2 Holdings

Market Cap: US$3.4b

Provides digital solutions to financial institutions, financial technology companies, FinTechs, and alternative finance companies (Alt-FIs) in the United States.

Agilysys

Market Cap: US$3.2b

Operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India.

Sopra Steria Group

Market Cap: €2.8b

Provides consulting, digital, and software development services in France and internationally.

Kinaxis

Market Cap: CA$4.3b

Provides cloud-based subscription software-as-a-service for supply chain operations in the United States, Europe, Asia, and Canada.

Fastly

Market Cap: US$2.9b

Operates an edge cloud platform for processing, serving, and securing its customer’s applications in the United States, the Asia Pacific, Europe, and internationally.

Sinch

Market Cap: SEK 27.2b

Provides cloud communication services and digital customer engagement channels to the enterprise sector.

INESA Intelligent Tech

Market Cap: CN¥19.0b

Provides information technology services in China.

Kyndryl Holdings

Market Cap: US$2.7b

Operates as a technology services company and IT infrastructure services provider in the United States, Japan, and internationally.

AvePoint

Market Cap: US$2.7b

Provides cloud-native data management software platform in North America, Europe, the Middle East, Africa, and the Asia Pacific.

Alarm.com Holdings

Market Cap: US$2.5b

Operates a platform for connected properties in North America and internationally.

Venustech Group

Market Cap: CN¥16.1b

Provides network security products, trusted security management platforms, and specialized security services and solutions worldwide.

GMO internet group

Market Cap: JP¥379.6b

Provides various internet services in Japan and internationally.

Tieto Oyj

Market Cap: €2.0b

Operates as a software and digital engineering company in Norway, Sweden, Finland, and internationally.

LiveRamp Holdings

Market Cap: US$2.3b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Rakus

Market Cap: JP¥361.7b

Provides cloud services in Japan.

Intapp

Market Cap: US$2.2b

Through its subsidiary, Integration Appliance, Inc., provides AI-powered solutions in the United States, the United Kingdom, and internationally.

Alkami Technology

Market Cap: US$1.9b

Provides a cloud-based digital sales and service platform for financial institutions in the United States.

Atea

Market Cap: NOK 18.4b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Appian

Market Cap: US$1.8b

Operates as a software company in the United States, Australia, Canada, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and internationally.

EverCommerce

Market Cap: US$1.8b

Provides integrated software-as-a-service solutions for service-based small and medium-sized businesses in the United States and internationally.

Kontron

Market Cap: €1.4b

Engages in the provision of Internet of Things software and solutions in Europe and internationally.

JustSystems

Market Cap: JP¥253.4b

Plans, develops, and provides software and related services primarily in Japan.

Northking Information Technology

Market Cap: CN¥10.1b

Northking Information Technology Co., Ltd.

Simplex Holdings

Market Cap: JP¥236.6b

Provides IT solutions in Japan.