Sangoma Technologies Corp. (STC.TO)

A past top pick. They appear cheap in forward guidance. He still likes it and thinks it could move higher. They're serial acquirers and do a good job of intergrating companies.

It is a very small story. They are involved in telephony and telephony products. He thinks the street has the story a little bit wrong. They basically doubled the size of the company. (Analysts’ target: $2.22).

It's not part of his database. Earnings appear to be attractive. End of year (June 2018) is expected to earn 7 cents, expecting to grow to 9 cents in June 2019. 14x PE and 30% earnings growth. Stock is rising. Little analyst coverage on this.

He owns it personally. The return on equity meets his criteria. It is relatively inexpensive. They have been growing by acquisitions. They have a steady business and then juice it by acquiring companies with the cash flow. It was a Top Pick of his previously. It is a reasonable level to initiate or to add to a position.

Involved in voice over IP telephony type services for businesses and customers. Recently broke through resistance at the mid-$0.80s, and have now gone beyond that, which is a very strong indication. That was done on news of their 6th acquisition in 6 years. Still only trading at about 15X forward earnings. (Analysts' price target is $1.88.)

Manufactures hardware and software for Internet protocol communications, basically hand sets. This company is doing great things and the outlook appears to be pretty good going forward.