Rational Investing

	Total Market Capitalization of All Firms	245444 mm
	Average Market Capitalization	12272 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.13
	Standard Deviation of MM Ratio	0
	Average Beta	0.98
	Average EV To Revenue	3.45
	Average Price To Free Cash Flow	37.72

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
BLKB	Blackbaud Inc.	2.0	3,573	4.5	37.0	3	1.26	Dec 18
GWRE	Guidewire Software, Inc	1.8	6,950	7.2	-118.0	55	1.24	Oct 18
JKHY	Jack Henry & Associates Inc.	1.6	10,280	6.2	31.7	8	0.90	Dec 18
PEGA	Pegasystems Inc.	1.6	4,525	4.9	38.7	10	1.23	Sep 18
FISV	Fiserv Inc	1.5	36,097	7.1	27.6	2	0.85	Dec 18
ADP	Automatic Data Processing Inc	1.2	66,790	4.8	37.0	8	0.97	Dec 18
GIB	Cgi Group Inc.	1.2	18,752	2.3	21.5	3	0.66	Dec 18
EBIX	Ebix Inc.	1.1	1,845	4.8	-13.1	30	1.40	Jun 18
MANT	Mantech International Corp.	1.1	2,249	1.1	34.0	18	0.94	Sep 18
CVG	Convergys Corp	1.0	2,277	0.9	11.3	0	0.85	Jun 18
TIVO	Tivo Corporation	1.0	1,377	2.9	7.6	-3	1.66	Sep 18
VRNT	Verint Systems Inc	1.0	3,341	3.3	28.0	9	1.04	Oct 18
WIT	Wipro Ltd	1.0	26,796	3.5	19.1	7	0.66	Dec 18
ING.PA	Ingenico Group SA	0.9	3,983	2.3	237.2	7	0.83	Jun 18
DOX	Amdocs Ltd	0.8	8,148	2.0	17.2	5	0.66	Dec 18
MSTR	Microstrategy Inc	0.8	1,333	2.8	77.6	-1	0.66	Dec 18
SEAC	Seachange International Inc.	0.8	63	0.8	9.5	0	0.52	Oct 18
CTSH	Cognizant Technology Solutions	0.7	43,227	2.6	18.4	4	0.98	Dec 18
CSGS	Csg Systems International Inc	0.6	1,353	1.4	13.6	9	1.07	Dec 18
NTCT	Netscout Systems Inc.	0.6	2,486	3.3	11.9	-5	1.24	Dec 18