Constellation Software Inc. (CSU.TO)

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.

Good long term investment, but stock too expensive at current price. Wait for weakness in share price before investing. Excellent management team that is good at capital allocation. 

Share price over the 200 day moving average (not good for investors). Good business, but would wait for weakness before buying. Stock price overvalued. 

Unique business model that you can't easily replicate in the spinoffs. Valuation a bit rich at over 30x cashflow. Eventually, will be some volatility and you'll get your change to buy more. Exceptionally high growth despite its size. One of the best compounders ever created, not just in Canada but globally.

Very good company. Owns shares in portfolio. Currently trading at reasonable price to growth level. Would wait for share price to fall before buying. Excellent management team with strong tech stack.