Global Software Undervalued over 20% based on DCF

FINEOS Corporation Holdings

Market Cap: AU$717.3m

Engages in the development and sale of enterprise claims and policy management software for life, accident and health insurers, and employee benefits providers in North America, the Asia Pacific, Europe, the Middle East, and Africa.

Grid Dynamics Holdings

Market Cap: US$489.6m

Provides enterprise artificial intelligence and digital transformation services in North America, Europe, and internationally.

Truecaller

Market Cap: SEK 4.6b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

Broadleaf

Market Cap: JP¥76.6b

Engages in the development and provision of cloud services and packaged systems for the mobility industry in Japan.

Sygnity

Market Cap: zł1.8b

Manufactures and sells IT products and services in Poland and internationally.

Bouvet

Market Cap: NOK 4.5b

Provides consultancy services in the fields of information technology and digital communication for public and private sectors in Norway, Sweden, and internationally.

Comp

Market Cap: zł1.7b

A technology firm, provides IT security and network security services and solutions in Poland.

CI&T

Market Cap: US$425.4m

Provides strategy, design, and software engineering services in North America, Europe, Latin America, Asia Pacific, and worldwide.

Trade-Van Information Services

Market Cap: NT$13.5b

Provides electronic data exchange services and related services in Taiwan.

Allot

Market Cap: US$417.8m

Develops, sells, and markets network intelligence and security solutions in Israel, Europe, Asia, Oceania, the Americas, the Middle East, and Africa.

Computer Engineering & Consulting

Market Cap: JP¥67.3b

Operates as an independent system integrator in Japan.

Beijing Transtrue Technology

Market Cap: CN¥2.8b

Provides multimedia information systems, production monitoring and command systems, data center system construction and services, and new energy charging pile business in China.

Fukui Computer HoldingsInc

Market Cap: JP¥66.1b

Develops and sells package CAD products for the construction industry in Japan.

Materialise

Market Cap: US$400.8m

Provides additive manufacturing and medical software tools, and 3D printing services in the Americas, Europe, Africa, and the Asia-Pacific.

JFE Systems

Market Cap: JP¥63.5b

Engages in the planning, designing, developing, operating, and maintenance of information systems in Japan.

F-Secure Oyj

Market Cap: €340.7m

Operates as a cybersecurity company in Finland and internationally.

Cresco

Market Cap: JP¥61.9b

Engages in the provision of information technology (IT) services and digital solutions in Japan.

I'LL

Market Cap: JP¥61.4b

Operates as a system solution business in Japan.

Xunlei

Market Cap: US$364.1m

Operates an internet platform for digital media content in the People's Republic of China.

Silvaco Group

Market Cap: US$358.6m

Provides technology computer aided design (TCAD) software, electronic design automation (EDA) software, and semiconductor intellectual property (SIP) solutions in the United States and internationally.

Base

Market Cap: JP¥55.7b

Engages in the computer software development and related work in Japan.

Text

Market Cap: zł1.3b

Develops and distributes online text communication software for businesses worldwide.

Sky ICT

Market Cap: ฿11.0b

Engages in information and communication technology (ICT), and system integration businesses in Thailand.

Michpal Technologies

Market Cap: ₪984.5m

Designs and develops payroll software that offers attendance system and pension operations.

Sword Group

Market Cap: €282.6m

Provides IT and software solutions in Luxembourg, Europe, and Asia.

Infotel

Market Cap: €271.5m

Designs, develops, markets, and maintains software solutions in the areas of security, performance, and management in France, rest of Europe, and the United States.

Shoper

Market Cap: zł1.2b

Provides software as a service solution for e-commerce in Poland.

Trifork Group

Market Cap: DKK 2.0b

Provides information technology and other business services in Switzerland, Denmark, the United Kingdom, the Netherlands, the United States, and internationally.

R Systems International

Market Cap: ₹27.9b

A digital product engineering company, designs and builds chip-to-cloud software products and platforms in Europe, the United States, and internationally.

Acer E-Enabling Service Business

Market Cap: NT$9.4b

Operates as a cloud company in Taiwan, China, Thailand, the United States, France, and internationally.

8x8

Market Cap: US$287.8m

Provides contact center, voice, video, chat, and enterprise-class application programmable interface (API) solutions worldwide.

Pro-Ship

Market Cap: JP¥46.6b

Develops, sells, consults, and customizes solution packages for asset management, sales management, and others in Japan.

Japan System Techniques

Market Cap: JP¥45.6b

Engages in the software business in Japan and internationally.

CHT Security

Market Cap: NT$9.0b

Provides telco-centric network security and cyber security services in Taiwan.

AdvancedAdvT

Market Cap: UK£207.9m

Engages in the provision of software solutions in Europe, the United Kingdom, North America, and internationally.

Netcall

Market Cap: UK£198.7m

Engages in the design, development, sale, and support of software products and services in the United Kingdom.