Constellation Software Inc. (CSU.TO)

His fault for not owning this great growth company. They could a number of things like raise their dividend, split the stock or spin off a business. This will continue to do well.

Grows 20% annually. Trades at 20x PE and has a fortress balance sheet. Well run.  Had grown quickly. Owns a ton of software companies.

A good long term investment that will continue to own. Very strong business with high margins. Good at M&A and has proven business plan extensively. Founder led with CEO owning large amount of shares. Return in capital remains strong. Vertical market software very profitable and sticky. Friendly "off ramp" for entrepreneurs who are looking to sell. ~36% compounding return since 2006. 

Very high margin business with strong management team. Very good at capital allocation. Recent stock price at all time high. 2024 looking to be strong year in M&A field. Earnings grew in 2023. Organic grown and margins increasing. Very disciplined management team. 

Has grown 31%, on average, over the past 10 years. Chart looks really good. A darling. Paused in 2023, seems to be doing that again. Pauses can last 3-6 months. Buy and hold. Loves the business. You'd want to be out around $3400.

Overbought. Look at the chart and draw a trendline. As with a lot of stocks, has arced up and moved way above its 200-day MA. Good company, but may retreat to the trendline. Don't buy now. If you own it, hold.

Has owned shares since 2014. Once of the best companies across the globe. Excellent capital allocation skills. Problem is that valuation is very high. Excellent business model (software acquisition) with high returns on capital. #1 position in company and is favorite business. 

Current valuation way too high for investors (~60x P/E). Too many companies that have been rolled into one. Does not like this business at this time. 

Shares pulled back, but he didn't find a reason apart from broad-based selling in the market. He's owned this a long time. It's a leader in the vertical market in software, which is niche used for specific applications in contrast to wider horizontal markets, like Excel. CSU is a serial acquirer and are financially disciplined, buying small/medium-sized companies. 

She feels it is over-valued at 40X earnings and only pays a 0.1% dividend. They acquire software companies and verticals - management has a phenomenal track record with this. Her concern is that they may have to start making larger acquisitions because of a possible shortage of the smaller ones they have been buying.

Owns in his value momentum strategy. Doubled in the last year or so, has done very well. Mission-critical software. Grows by acquisition, not an easy task, but they've made it work.

Blown through analysts' average price target. He still owns it. Will get visibility once they report. Acquired 260 companies over 10 years, cross-sell, and keep on making money. Vertical market strategy as opposed to MSFT, which integrates horizontally. Buy 1/3 here around $3700, again at $3475, and $3300.

Excellent business with very high margins. Very strong management team with excellent capital allocation skills. Software company roll up strategy has worked out very well. ROE around 30%. Share price not cheap, so would recommend waiting for weakness before buying. 

Have done a great job. The executive team is proving itself, are top managers. The PE is quite high, though lower than Shopify's. CSU is on his radar, despite that. They are consistent. Canadian tech rallied strongly last year, including CSU.

Keeps on doing what it's doing. 2023 probably a record year for acquisitions, and more going forward. New way to increase verticals, buying software "carve-outs" rather than a whole company. See his Top Picks.