Global Software Undervalued over 20% based on DCF

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.

Unisys

Market Cap: US$259.5m

Operates as an information technology solutions company in the United States, the United Kingdom, and internationally.

FFRI Security

Market Cap: JP¥41.6b

Engages in research and consulting related to computer security products in Japan.

Crexendo

Market Cap: US$249.3m

Provides cloud communication platform software and unified communications as a service in the United States and internationally.

Zhengyuan Zhihui GroupLtd

Market Cap: CN¥1.6b

Engages in the provision of solutions and service operators for smart campuses in China.

Linedata Services

Market Cap: €207.5m

Develops, publishes, and distributes financial software in Southern Europe, Northern Europe, North America, and Asia.

Streamwide

Market Cap: €205.5m

Designs, develops, markets, and maintains a set of service software for mobiles and telecommunication operators worldwide.

Dimerco Data System

Market Cap: NT$7.4b

Engages in the design, development, and sale of various software products in Taiwan.

Ryoyu Systems

Market Cap: JP¥36.9b

Provides design, development, operation and maintenance of information and communication systems for various industries in Japan.

Saksoft

Market Cap: ₹21.6b

An information technology company, provides digital transformation solutions in Europe, the United States, the Asia Pacific, and internationally.

Soliton Systems K.K

Market Cap: JP¥36.4b

Engages in the development and sale of IT security-related products in Japan, the United States, and internationally.

Mastersystem Infotama

Market Cap: Rp4.0t

Engages in the provision of information and communication technology infrastructure solutions and system integration services to enterprise banking, oil and gas, enterprise, and telecommunication markets in Indonesia.

NEXG Berhad

Market Cap: RM 872.3m

An investment holding company, provides security-based information and communication technology (ICT) solutions primarily in Malaysia.

91APP

Market Cap: NT$6.9b

A Software-as-a-Service company, provides information system software and e-commerce value-added services in Taiwan, Hong Kong, Singapore, and Malaysia.

Computer Modelling Group

Market Cap: CA$294.8m

A software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services.

DUG Technology

Market Cap: AU$296.7m

A technology company, provides hardware and software solutions for the technology and resource sectors in Australia, the United States, the United Kingdom, Malaysia, and the United Arab Emirates.

Information Services Group

Market Cap: US$193.7m

Operates as an artificial intelligence (AI) centered technology research and advisory company in the Americas, Europe, and the Asia Pacific.

Densan System Holdings

Market Cap: JP¥31.2b

Provides information and collection agency services in Japan.

Edianyun

Market Cap: HK$1.5b

An investment holding company, provides office internet technology integrated solutions to small-and medium-sized enterprises in the People’s Republic of China.

ULS Group

Market Cap: JP¥30.8b

Provides consulting and contract development services related to information systems in Japan.

Digia Oyj

Market Cap: €158.6m

Operates as a software and service company in Finland, Sweden, and internationally.

Perfect

Market Cap: US$178.2m

An artificial intelligence software as a service company, provides artificial intelligence (AI)- and augmented reality (AR)-powered solutions for beauty, fashion, and skincare industries worldwide.

eGain

Market Cap: US$174.6m

Engages in the development, license, implementation, and support of its customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific.

ReGuest

Market Cap: €152.2m

Provides a customer relationship management system for the hotel industry.

User Local

Market Cap: JP¥28.0b

Engages in data cloud business in Japan.

Computer Institute of Japan

Market Cap: JP¥27.9b

Provides system development and related services in Japan.

Digital Information Technologies

Market Cap: JP¥27.1b

Operates as an information services company.

Startia HoldingsInc

Market Cap: JP¥27.0b

Engages in the IT business in Japan and internationally.

Abra Information Technologies

Market Cap: ₪500.7m

Provides information technology solutions in Israel.

ReposiTrak

Market Cap: US$163.7m

A software-as-a-service provider, operates a business-to-business, e-commerce, compliance and traceability, and supply chain management platform in North America.

Micro Systemation

Market Cap: SEK 1.5b

Provides forensic technology for mobile device examination and analysis in Sweden and internationally.

Focus Systems

Market Cap: JP¥24.4b

Provides IT services for public and private clients in Japan.

Tecnotree Oyj

Market Cap: €129.9m

Provides telecommunication IT solutions for charging, billing, customer care, and messaging and content services in Europe, the Americas, the Middle East, Africa, and the Asia Pacific.

Hybrid Software Group

Market Cap: €127.4m

Develops software and hardware technology solutions for graphics and industrial inkjet printing in the United Kingdom, rest of Europe, North and South America, and Asia.

Redelfi

Market Cap: €125.8m

Operates as an ESG management company in Italy, the United States, and Switzerland.