Enghouse Systems

ENGH-T

Analysis and Opinions about ENGH-T

Signal
Opinion
Expert
WEAK BUY
WEAK BUY
July 25, 2019

Really good company. A software consolidator. Likes CGI and Constellation Software a bit better. Organic growth is quite reasonable. Valuation reasonable. Trading at a discount. Buy it to compound capital over the long term. Look elsewhere for dividend income. (Analysts’ price target is $43.00)

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Really good company. A software consolidator. Likes CGI and Constellation Software a bit better. Organic growth is quite reasonable. Valuation reasonable. Trading at a discount. Buy it to compound capital over the long term. Look elsewhere for dividend income. (Analysts’ price target is $43.00)

DON'T BUY
DON'T BUY
July 24, 2019

He liked it in the past. He prefers Descartes. Organic growth will be challenging and they've had some misses. The valuation has declined, but he needs to see more organic growth to get excited in this. Careful here.

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He liked it in the past. He prefers Descartes. Organic growth will be challenging and they've had some misses. The valuation has declined, but he needs to see more organic growth to get excited in this. Careful here.

COMMENT
COMMENT
July 8, 2019

They supply Canadian software to phone call centres. His owns Open Text and Shopify in this space instead.

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They supply Canadian software to phone call centres. His owns Open Text and Shopify in this space instead.

HOLD
HOLD
June 21, 2019
Software company. Has it in their TFSAs, because you get the full amount of the dividend, no withholding tax. Trading cheaply. Were dinged for not doing enough acquisitions, but he doesn't listen to the analysts. Dividend growth 10-15% range.
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Software company. Has it in their TFSAs, because you get the full amount of the dividend, no withholding tax. Trading cheaply. Were dinged for not doing enough acquisitions, but he doesn't listen to the analysts. Dividend growth 10-15% range.
COMMENT
COMMENT
May 17, 2019
A software company that grows through acquisition. Earnings growth is expected to be flat. ROE is 18%. Free cash flow positive. Good opportunity going forward. The market did not like the news of another large acquisition.
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A software company that grows through acquisition. Earnings growth is expected to be flat. ROE is 18%. Free cash flow positive. Good opportunity going forward. The market did not like the news of another large acquisition.
TOP PICK
TOP PICK
March 21, 2019
The banks and telecoms need call centers and they do also facility management for utilities. Quite little company. Last quarter they grew only by 1%. they have owned it for about 10 years. Payout ratio is only 8%. (Analysts’ price target is $42.25)
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The banks and telecoms need call centers and they do also facility management for utilities. Quite little company. Last quarter they grew only by 1%. they have owned it for about 10 years. Payout ratio is only 8%. (Analysts’ price target is $42.25)
COMMENT
COMMENT
January 7, 2019
Software company, which acquires other software companies. Similar to Constellation, which is a better opportunity than this one. Smart acquirers. They say they have lots of M&A opportunities, so as long as you're comfortable with that strategy (and he is with Constellation), you should do very well. Big runway of growth, but there's lots of competition, so do your research.
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Software company, which acquires other software companies. Similar to Constellation, which is a better opportunity than this one. Smart acquirers. They say they have lots of M&A opportunities, so as long as you're comfortable with that strategy (and he is with Constellation), you should do very well. Big runway of growth, but there's lots of competition, so do your research.
BUY
BUY
June 15, 2018

It is about the guy who is running it. He accumulated a serious of software companies that don’t get the premium multiple they deserve. It is like Constellation Software. He has tremendous cash flow. At some point he will sell this company. In the interim you have a nice steady company that generates a steady cash flow.

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It is about the guy who is running it. He accumulated a serious of software companies that don’t get the premium multiple they deserve. It is like Constellation Software. He has tremendous cash flow. At some point he will sell this company. In the interim you have a nice steady company that generates a steady cash flow.

COMMENT
COMMENT
May 11, 2018

The original owner of the company was responsible for some very good acquisitions. He continues to grow the business by acquisition. The challenge is the valuations are under tight scrutiny. He would prefer Open Text (OTEX-T).

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The original owner of the company was responsible for some very good acquisitions. He continues to grow the business by acquisition. The challenge is the valuations are under tight scrutiny. He would prefer Open Text (OTEX-T).

COMMENT
COMMENT
May 29, 2017

A software company that has been pretty aggressive on growth through acquisition, using their relatively highly valued equity paper to buy all these small companies, roll them in, and get synergies. Software in general is becoming a much more competitive from an M&A standpoint, so it is going to be harder to find cheap deals. Also, it is not the cheapest stock. He is not interested in this.

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A software company that has been pretty aggressive on growth through acquisition, using their relatively highly valued equity paper to buy all these small companies, roll them in, and get synergies. Software in general is becoming a much more competitive from an M&A standpoint, so it is going to be harder to find cheap deals. Also, it is not the cheapest stock. He is not interested in this.

DON'T BUY
DON'T BUY
April 12, 2017

Doesn’t follow this closely. The price has come down quite a bit. A software company that have been growing primarily through acquisitions. Thinks Amazon (AMZN-Q) has indicated they are going to enter into the same software market, and some analysts have indicated the space is going to get more competitive. A high multiple stock to begin with, and is not considered inexpensive.

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Doesn’t follow this closely. The price has come down quite a bit. A software company that have been growing primarily through acquisitions. Thinks Amazon (AMZN-Q) has indicated they are going to enter into the same software market, and some analysts have indicated the space is going to get more competitive. A high multiple stock to begin with, and is not considered inexpensive.

WATCH
WATCH
April 3, 2017

It was very much consolidating all of last year. It looks like it is now trying to break out. It tested recently. You don’t want to see that broken.

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It was very much consolidating all of last year. It looks like it is now trying to break out. It tested recently. You don’t want to see that broken.

HOLD
HOLD
March 30, 2017

RBC left a buy on the stock after issuing a terrible report on this company. AMZN-Q has said it will offer similar software to ENGH-T. That is the negative story. But she does not think it will make much difference in the short run. Don’t write them off.

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RBC left a buy on the stock after issuing a terrible report on this company. AMZN-Q has said it will offer similar software to ENGH-T. That is the negative story. But she does not think it will make much difference in the short run. Don’t write them off.

BUY WEAKNESS
BUY WEAKNESS
March 29, 2017

It is consolidating here. He would like to see it take out its previous highs based on improved financial metrics.

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It is consolidating here. He would like to see it take out its previous highs based on improved financial metrics.

DON'T BUY
DON'T BUY
February 15, 2017

This has been a very successful company over the last number of years. It is a growth through acquisition type of model, buying a bunch of small software companies, cutting out the costs, and trying to put it together in a bigger rollup strategy. It has always been expensive.

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Enghouse Systems (ENGH-T)
February 15, 2017

This has been a very successful company over the last number of years. It is a growth through acquisition type of model, buying a bunch of small software companies, cutting out the costs, and trying to put it together in a bigger rollup strategy. It has always been expensive.

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