Stock price when the opinion was issued
Splunk acquisition in cybersecurity segment has secured a lot more recurring revenue for the company. Steady eddy. Keeps making good acquisitions and integrating. Good management, balance sheet, and dividend yield.
Not cheap anymore, so he sold on the valuation call. Nothing wrong with the business per se if you have a very long horizon.
(A Top Pick July 18/16. Up 31%.) Historically they’ve been very active in doing acquisitions, and have been buying up all sorts of different businesses. After seeing a meaningful double-digit return and at how many acquisitions they have done and their need to digest them, he wasn’t sure what direction they were heading in, so he locked in his profit. Still likes the name, but is out of it.