Rational Investing

	Total Market Capitalization of All Firms	$297,157 mm
	Average Market Capitalization	$12,920 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0
	Average Beta	0.9
	Average EV To Revenue	4.8
	Average Price To Free Cash Flow	28.4

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
GWRE	Guidewire Software, Inc	2.7	9,118	13.1	103.1	1	1.1	Oct 19
SEAC	Seachange International Inc.	2.0	153	1.9	9.5	0	0.5	Oct 18
JKHY	Jack Henry & Associates Inc.	1.6	11,766	6.7	31.6	13	0.9	Sep 19
FICO	Fair Isaac Corporation	1.5	12,033	10.7	34.8	16	1.2	Jun 19
NTCT	Netscout Systems Inc.	1.3	1,975	2.9	13.1	-2	1.3	Sep 19
BLKB	Blackbaud Inc.	1.2	3,985	4.8	47.8	6	1.1	Sep 19
PEGA	Pegasystems Inc.	1.2	6,939	7.2	26.8	8	1.2	Sep 19
ADP	Automatic Data Processing Inc	1.1	77,397	5.3	37.0	6	0.9	Sep 19
GIB	Cgi Group Inc.	1.1	21,213	2.5	23.8	3	0.7	Sep 19
MSTR	Microstrategy Inc	1.1	1,492	3.0	33.7	4	0.7	Sep 19
CTSH	Cognizant Technology Solutions	1.0	35,608	2.2	17.9	4	1.0	Sep 19
CVG	Convergys Corp	1.0	2,277	0.9	11.3	0	0.9	Jun 18
OCDO.L	Ocado Group PLC	1.0	11,775	6.8	-19470.5	13	1.1	May 19
ING.PA	Ingenico Group SA	0.9	7,138	2.8	26.4	30	1.0	Jun 19
TIVO	Tivo Corporation	0.9	1,037	2.9	7.6	0	0.3	Sep 19
WIT	Wipro Ltd	0.9	22,767	2.8	18.1	4	0.7	Dec 19
MANT	Mantech International Corp.	0.8	3,272	1.5	-272.9	14	0.9	Sep 19
VRNT	Verint Systems Inc	0.8	3,812	3.4	22.8	10	1.1	Oct 19
DOX	Amdocs Ltd	0.7	10,448	2.4	17.0	6	0.7	Sep 19
EBIX	Ebix Inc.	0.7	1,138	3.1	-44.8	21	1.4	Sep 19
FISV	Fiserv Inc	0.7	47,968	14.8	-1.5	21	0.8	Sep 19
SPSC	Sps Commerce, Inc.	0.7	2,130	7.4	38.0	16	0.7	Sep 19
CSGS	Csg Systems International Inc	0.6	1,716	1.7	18.4	18	1.0	Sep 19