U.S. Software Undervalued over 20% based on DCF

Salesforce

Market Cap: US$171.3b

Provides customer relationship management technology services that connect companies and customers together in the United States, Europe, and the Asia Pacific.

Datadog

Market Cap: US$84.6b

Operates an observability and security platform for cloud applications in the United States and internationally.

Synopsys

Market Cap: US$76.2b

Provides design IP solutions in the semiconductor and electronics industries.

Autodesk

Market Cap: US$53.6b

Engages in the provision of 3D design, engineering, and entertainment technology solutions worldwide.

Workday

Market Cap: US$49.4b

Provides enterprise cloud applications in the United States and internationally.

Roper Technologies

Market Cap: US$40.7b

Designs and develops vertical software and technology enabled products in the United States, Canada, Europe, Asia, and internationally.

Zscaler

Market Cap: US$29.4b

Operates as a cloud security company worldwide.

Cognizant Technology Solutions

Market Cap: US$27.9b

A professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally.

Gen Digital

Market Cap: US$17.3b

Engages in the provision of cyber safety and trust-based solutions for individuals, families, and small businesses.

Guidewire Software

Market Cap: US$15.8b

Provides a platform for property and casualty (P&C) insurers worldwide.

Tyler Technologies

Market Cap: US$14.4b

Provides integrated software and technology management solutions for the public sector in the United States.

Dynatrace

Market Cap: US$14.2b

Engages in the advancement of observability for digital businesses, which transforms the complexity of modern digital ecosystems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

Trimble

Market Cap: US$14.0b

Offers technology solutions and platform that enable office professionals and field workers to connect workflows and industry lifecycles in North America, Europe, the Asia Pacific, and internationally.

Gartner

Market Cap: US$12.4b

Provides business and technology insights to support decision-making and performance on an organization’s mission-critical priorities in the United States, Canada, Europe, the Middle East, Africa, and internationally.

Bentley Systems

Market Cap: US$11.5b

Provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

ServiceTitan

Market Cap: US$9.1b

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

Elastic

Market Cap: US$8.9b

A search artificial intelligence (AI) company, provides software platforms to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally.

UiPath

Market Cap: US$8.5b

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.

AppFolio

Market Cap: US$7.9b

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

Zeta Global Holdings

Market Cap: US$7.3b

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

SentinelOne

Market Cap: US$7.3b

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

GitLab

Market Cap: US$7.0b

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

Qualys

Market Cap: US$6.3b

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

Dolby Laboratories

Market Cap: US$6.1b

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.

Clear Secure

Market Cap: US$5.9b

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

Commvault Systems

Market Cap: US$5.5b

Provides cyber resiliency solutions for enterprises to protect, secure, and recover data, applications, and identity system.

ACI Worldwide

Market Cap: US$5.2b

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

Varonis Systems

Market Cap: US$4.7b

Provides software products and services that continuously discover and classify critical data, remediate exposures, and detect advanced threats with AI-powered technology in North America, Europe, APAC, and rest of worlds.

Box

Market Cap: US$4.6b

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.

CCC Intelligent Solutions Holdings

Market Cap: US$4.4b

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

BILL Holdings

Market Cap: US$4.1b

Provides financial operations platform for small and midsize businesses worldwide.

Q2 Holdings

Market Cap: US$4.0b

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

Braze

Market Cap: US$3.5b

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

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.

Intapp

Market Cap: US$3.2b

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

SPS Commerce

Market Cap: US$2.9b

Provides cloud-based supply chain management solutions in the United States.