Rational Investing

	Total Market Capitalization of All Firms	$215,445 mm
	Average Market Capitalization	$10,772 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	0.8
	Standard Deviation of MM Ratio	0.5
	Average Beta	1.0
	Average EV To Revenue	3.9
	Average EV To EBITDAM	18.4
	Average Price To Free Cash Flow	24.6

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
OCDO.L	Ocado Group PLC	2.71	11,667	6.7	-17646.7	30	6	0.8	Nov 19
PEGA	Pegasystems Inc.	1.46	4,814	5.1	43.4	35.3	6	1.2	Dec 19
GWRE	Guidewire Software, Inc	1.36	6,024	8.4	68.6	30	5	1.2	Jan 20
JKHY	Jack Henry & Associates Inc.	1.34	12,059	7.2	43.6	28.8	7	0.8	Dec 19
CTSH	Cognizant Technology Solutions	0.78	24,707	1.4	12.0	9.1	7	1.0	Dec 19
ADP	Automatic Data Processing Inc	0.73	55,958	3.9	29.2	18.7	6	1.0	Dec 19
DOX	Amdocs Ltd	0.72	7,578	1.7	13.9	13.8	6	0.8	Dec 19
BLKB	Blackbaud Inc.	0.69	2,406	3.0	39.3	18.2	7	1.5	Dec 19
VRNT	Verint Systems Inc	0.69	2,422	2.3	17.3	13.9	7	1.1	Jan 20
MSTR	Microstrategy Inc	0.66	1,149	2.3	19.9	29.5	7	1.0	Dec 19
SPSC	Sps Commerce, Inc.	0.61	1,689	5.3	23.7	21.7	14	1.1	Dec 19
FICO	Fair Isaac Corporation	0.59	7,649	6.4	48.8	21.8	14	1.1	Dec 19
MANT	Mantech International Corp.	0.56	2,768	1.0	11.5	8.1	23	0.8	Dec 19
WIT	Wipro Ltd	0.56	17,541	2.2	14.2	13.8	4	1.3	Dec 19
GIB	Cgi Group Inc.	0.55	13,128	1.5	14.7	8.9	6	0.9	Dec 19
FISV	Fiserv Inc	0.51	33,824	11.3	-1.0	30	24	1.0	Sep 19
CSGS	Csg Systems International Inc	0.47	1,373	1.6	8.5	7.7	12	1.0	Dec 19
ING.PA	Ingenico Group SA	0.47	6,036	2.0	19.2	11.2	23	0.7	Dec 19
NTCT	Netscout Systems Inc.	0.44	1,876	2.5	7.6	9.8	7	0.9	Dec 19
TIVO	Tivo Corporation	0.37	778	2.5	6.5	7.7	4	0.6	Dec 19