Rational Investing

Information Technology Services

	Total Market Capitalization of All Firms	$729,647 mm
	Average Market Capitalization	$20,847 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.2
	Standard Deviation of MM Ratio	0.5
	Average Beta	1.0
	Average EV To Revenue	4.1
	Average EV To EBITDAM	21.1
	Average Price To Free Cash Flow	33.9

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
TYL	Tyler Technologies Inc.	2.64	17,805	15.3	74.6	40	4	0.7	Mar 21
SOW.DE	Software AG	2.45	3,430	4.7	25.3	20.0	-4	1.0	Mar 21
NSIT	Insight Enterprises Inc.	2.00	3,731	0.5	27.1	15.7	1	1.7	Mar 21
SYNA	Synaptics Inc.	1.97	5,121	4.2	99	15.2	7	1.2	Mar 21
CPU.AX	Computershare Limited	1.66	7,484	4.3	16.1	25.8	-1	1.4	Dec 20
G	Genpact Ltd.	1.56	8,568	2.7	22.0	17.3	3	1.4	Mar 21
WKL.AS	WOLTERS KLUWER	1.53	26,249	6.3	30.4	23.7	2	0.7	Dec 20
4684	OBIC Co., Ltd.	1.51	17,240	0.3	54.5	38.5	4	0.8	Mar 21
MSCI	Msci Inc	1.47	40,448	22.4	46.3	37.1	16	1.0	Mar 21
ACN	Accenture plc	1.38	181,612	3.9	28.3	19.9	6	1.1	Feb 21
9613	Ntt Data Corporation	1.35	22,340	0.4	24.3	19.7	-1	1.1	Mar 21
HCLTECH.NS	HCL Technologies Ltd	1.26	36,479	3.5	99	40	5	0.8	Mar 21
4307	Nomura Research Institute,ltd.	1.23	19,970	0.3	26.9	25.3	4	0.9	Mar 21
BC8.DE	Bechtle AG	1.22	7,952	1.3	33.6	22.6	16	0.9	Mar 21
2327	NS Solutions Corporation	1.21	2,935	0.1	15.5	11.0	-2	1.1	Mar 21
IBM	International Business Machine	1.02	134,055	2.8	20.8	18.5	2	1.2	Mar 21
4739	Itochu Techno-solutions	1.00	7,126	0.1	13.0	9.7	2	0.5	Mar 21
AVV.L	Aveva Group	0.99	15,019	19.1	35.4	40	-5	0.9	Sep 20
ENV	Envestnet, Inc.	0.99	4,275	4.6	78.6	25.2	10	1.3	Mar 21
GIB-A.TO	CGI Group Inc	0.99	20,111	1.9	18.5	12.1	1	1.0	Mar 21
BKI	Black Knight, Inc.	0.97	11,615	9.8	74.2	19.8	14	0.8	Mar 21
NLSN	Nielsen Hldg NV	0.91	9,133	5.0	13.8	13.1	-44	1.4	Mar 21
4689	Z Holdings Corporation	0.85	22,781	1.0	30.1	21.1	12	1.0	Mar 21
CSOD	Cornerstone OnDemand, Inc.	0.85	3,382	4.9	51.1	14.0	27	1.2	Mar 21
RAMP	Liveramp Holdings Inc	0.83	3,357	6.0	42.3	40	-35	1.4	Dec 18
6702	Fujitsu Ltd.	0.75	35,261	0.1	11.7	8.1	1	1.0	Mar 21
SOP.PA	Sopra Steria Group SA	0.75	3,926	1.1	7.7	7.4	1	1.4	Dec 20
UIS	Unisys Corp	0.71	1,686	1.7	13.0	12.4	6	0.7	Mar 21
4704	Trend Micro Incorporated	0.70	7,345	0.1	24.0	15.1	6	0.7	Dec 20
AZPN	Aspen Technology, Inc	0.70	9,500	13.3	29.5	23.5	25	1.2	Mar 21
7518	Net One Systems Co., Ltd	0.66	2,660	0.1	18.0	12.3	8	1.0	Mar 21
NCR	Ncr Corp	0.64	6,049	1.6	25.8	14.3	4	1.7	Mar 21
CCC.L	Computacenter Plc	0.60	4,256	0.7	26.4	40	9	0.8	Dec 20
018260.KS	SAMSUNG SDS CO LTD ORD	0.56	12,962	0.0	22.2	14.0	14	1.0	Mar 21
6701	NEC Corporation	0.27	13,781	0.3	7.7	8.0	10	0.7	Mar 21