Global Software Undervalued over 20% based on DCF

EPAM Systems

Market Cap: US$7.5b

Provides digital platform engineering and software development services worldwide.

Amdocs

Market Cap: US$7.1b

Through its subsidiaries, provides software and services to communications, entertainment, media, and other service providers worldwide.

Oracle Corporation Japan

Market Cap: JP¥1.1t

Provides software, hardware, and cloud products and solutions in Japan.

Clear Secure

Market Cap: US$6.8b

Operates a secure identity platform under the CLEAR brand name primarily in the United States.

NICE

Market Cap: ₪21.3b

Provides AI-powered cloud platforms for customer engagement, and financial crime and compliance in the United States, Europe, the Middle East, Africa, and the Asia Pacific.

ServiceTitan

Market Cap: US$6.0b

Provides an end-to-end cloud-based software platform in the United States and Canada.

Dolby Laboratories

Market Cap: US$5.9b

Engages in the design and manufacture of audio, imaging, accessibility, and other hardware and software solutions for television, broadcast, and live entertainment industries in the United States and internationally.

OneStream

Market Cap: US$5.9b

OneStream, Inc. delivers a unified, AI-enabled, and extensible software platform in the United States and internationally.

UiPath

Market Cap: US$5.9b

Provides an automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally.

Klaviyo

Market Cap: US$5.8b

Provides a cloud-based software-as-a-service platform in the United States, rest of the Americas, the Asia-Pacific, the United Kingdom, rest of Europe, the Middle East, and Africa.

Topicus.com

Market Cap: CA$8.0b

Provides vertical market software and vertical market platforms in the Netherlands and internationally.

Yonyou Network TechnologyLtd

Market Cap: CN¥39.2b

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

AppFolio

Market Cap: US$5.7b

Provides cloud-based platform for the real estate industry in the United States.

China National Software & Service

Market Cap: CN¥33.4b

Provides independent software products and industry solutions in China.

FPT

Market Cap: ₫126.1t

Provides information technology (IT) and telecommunication products and services in Vietnam and internationally.

SentinelOne

Market Cap: US$4.5b

Operates as a cybersecurity provider in the United States and internationally.

Bechtle

Market Cap: €3.7b

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

Lumine Group

Market Cap: CA$5.9b

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

ACI Worldwide

Market Cap: US$4.2b

Develops, markets, installs, and supports software products and services for facilitating electronic payments in the United States and worldwide.

IONOS Group

Market Cap: €3.5b

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

Asseco Poland

Market Cap: zł14.3b

Produces and sells software products worldwide.

Zeta Global Holdings

Market Cap: US$3.9b

Operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally.

CCC Intelligent Solutions Holdings

Market Cap: US$3.6b

Operates as a software as a service (SaaS) company for the property and casualty insurance economy in the United States and China.

Qualys

Market Cap: US$3.2b

Provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally.

State Grid Information & Communication

Market Cap: CN¥21.6b

State Grid Information & Communication Co., Ltd.

Newland Digital TechnologyLtd

Market Cap: CN¥19.7b

Engages in the design, development, sales, operation, and maintenance of financial POS terminal equipment in China.

Kinaxis

Market Cap: CA$4.0b

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

Sopra Steria Group

Market Cap: €2.4b

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

Netcompany Group

Market Cap: DKK 17.8b

Engages in the provision of IT solutions to private and public customers in Denmark, Norway, the United Kingdom, the Netherlands, Greece, Belgium, Luxembourg, and internationally.

Braze

Market Cap: US$2.7b

Operates a customer engagement platform that provides interactions between consumers and brands worldwide.

Tieto Oyj

Market Cap: €2.2b

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

Alarm.com Holdings

Market Cap: US$2.2b

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

BlackLine

Market Cap: US$2.2b

Provides cloud-based solutions to automate and streamline accounting and finance operations in the United States and internationally.

EverCommerce

Market Cap: US$2.1b

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

BlackBerry

Market Cap: CA$2.8b

Provides intelligent security software and services to enterprises and governments worldwide.

Intapp

Market Cap: US$2.0b

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