Rational Investing

Information Technology Services

	Total Market Capitalization of All Firms	$565,011 mm
	Average Market Capitalization	$15,271 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.0
	Standard Deviation of MM Ratio	0
	Average Beta	1.1
	Average EV To Revenue	3.3
	Average Price To Free Cash Flow	191.4

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	% Growth	Beta	As Of
TYL	Tyler Technologies Inc.	1.9	11,952	11.1	-883.3	15	0.9	Sep 19
ENV	Envestnet, Inc.	1.7	3,773	4.7	-7.6	14	1.7	Sep 19
NLSN	Nielsen Hldg NV	1.7	7,597	2.4	8.2	4	0.9	Sep 19
SYNA	Synaptics Inc.	1.7	2,563	2.0	15.3	2	1.3	Sep 19
MSCI	Msci Inc	1.6	23,638	16.3	36.4	12	1.2	Sep 19
CSOD	Cornerstone OnDemand, Inc.	1.4	3,713	6.7	26.8	11	1.1	Sep 19
4684	OBIC Co., Ltd.	1.3	14,169	0.2	62.1	13	0.8	Sep 19
4704	Trend Micro Incorporated	1.3	7,395	0.1	31.1	6	1.0	Sep 19
BKI	Black Knight, Inc.	1.3	9,868	9.5	24.5	6	0.8	Sep 19
IBM	International Business Machine	1.2	126,674	2.7	14.3	-1	1.3	Dec 19
6702	Fujitsu Ltd.	1.1	20,730	0.1	7.3	10	1.3	Sep 19
ACXM	Acxiom Corp	1.1	4,470	4.9	23.0	4	1.3	Jun 18
AVV.L	Aveva Group	1.1	10,573	9.9	-5426.5	41	1.4	Sep 19
BC8.DE	Bechtle AG	1.1	6,321	1.2	55.4	30	0.8	Sep 19
2327	NS Solutions Corporation	1.0	2,976	0.1	19.1	6	1.1	Sep 19
ALT.PA	Altran Technologies SA	1.0	4,127	1.5	-11.5	36	1.1	Jun 19
PAY	VeriFone Holdings	1.0	2,579	1.8	16.0	0	1.5	Apr 18
SYNT	Syntel Inc.	1.0	3,439	3.7	18.6	10	0.8	Jun 18
WKL.AS	WOLTERS KLUWER	1.0	21,229	5.3	33.7	7	0.8	Jun 19
4307	Nomura Research Institute,ltd.	0.9	16,253	0.2	17.0	6	0.8	Sep 19
CCC.L	Computacenter Plc	0.9	2,638	0.5	2596.9	24	0.9	Jun 19
RAMP	Liveramp Holdings Inc	0.9	3,745	6.7	63.5	-35	1.4	Dec 18
4739	Itochu Techno-solutions	0.8	7,215	0.0	25.7	12	0.8	Sep 19
6701	NEC Corporation	0.8	12,130	0.2	18.5	13	0.8	Sep 19
ATE.PA	Alten SA	0.8	4,319	1.6	6.6	20	1.0	Jun 19
HCLTECH.NS	HCL Technologies Ltd	0.8	23,150	2.4	2665.8	17	0.7	Dec 19
UIS	Unisys Corp	0.8	597	1.1	4.5	-1	1.4	Mar 19
9613	Ntt Data Corporation	0.7	19,990	0.4	19.9	7	0.7	Sep 19
ACN	Accenture plc	0.7	141,255	3.0	21.1	8	1.0	Nov 19
NSIT	Insight Enterprises Inc.	0.7	2,486	0.3	-22.5	11	1.2	Sep 19
SOP.PA	Sopra Steria Group SA	0.7	3,355	1.0	11.8	11	1.2	Jun 19
4689	Yahoo Japan Corporation	0.6	21,321	0.2	26.3	8	1.2	Sep 19
AZPN	Aspen Technology, Inc	0.6	9,695	14.3	24.9	15	1.5	Sep 19
NCR	Ncr Corp	0.6	4,240	1.0	13.5	12	1.5	Sep 19
SOW.DE	Software AG	0.6	2,738	3.3	11.5	7	0.7	Sep 19
7518	Net One Systems Co., Ltd	0.5	1,699	0.1	12.9	14	1.2	Sep 19
MAXR.TO	Maxar Technologies Ltd	0.2	395	1.9	-7.5	13	0.8	Mar 18