Topicus.Com Inc. (TOI-X)

A trading stock, but will be higher in 10-15 years. He'd enter at $90-95. Constellation was smart to spin this out (they still own about 45%).

He follows it. It's pricey. It's had a good run and has passed its price target. It was spun off from Constellation. Why hasn't it transitioned into the TSX? They've done well in the past month by 8%. Buy it at $97 and then the low-$90s.

Very good business with excellent management.
Spinoff from Constellation Software.
High margin business with excellent return on equity.
Good long term prospects for business.
Will continue own shares. 

Topicus.Com Inc (TOI) whose was up 19.3% in the period, 26.25% YTD, and 7.85 for one year. 
TOI was formed by Constellation Software (CSI) giving off the assets of its Netherlands subsidiary to TOI and then dividing some 39 million of its shares among CSI shareholders. 
TOI is controlled by CSI through its ownership of 1 super-voting share (gives it 50.1% of aggregate voting shares outstanding). 
There is a substantial non-controlling interest in TOI such that net income for equity shareholders amounted to 17.0 euros which was up 41%; free cash flow available to shareholders at 18.6 euros was down 10%. Essentially, TOI is a subsidiary of CSI which is a large and successful software provider. TOI seems to be progressing satisfactorily.
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Listed on the Venture Exchange because when CSU spun it out, wanted to keep it off the radar and didn't want to pay high listing fees of the TSX. He hasn't examined the latest results, probably relatively good. Financials are frustrating, messy. If it can come close to replicating the success of CSU, should do well. Higher organic growth rate than CSU. Note that CSU won't announce any acquisition unless it's more than 100-150M. To find this information, you need to look at the underlying business groups. TOI has been active. This environment is more favourable to both TOI and CSU making acquisitions. Exceptional capital allocation skills. Good for growth part of a portfolio.

Spinoff from Constellation Software.
6th of a size of Constellation Software.
Consolidator of small software companies. 
Very strong business that will be good for long term shareholders.
Would recommend buying.

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Revenues were up 13%. EPS was $0.14, compared to a loss in prior years. The company did $43M in deals, including deferred payments. The share structure is getting cleaned up as well. Preferred shares are being converted to common shares. The company has been busy with deals and the market should like the momentum. Unlock Premium - Try 5i Free

Spinoff from Constellation Software. CFO salary is $1 which is very shareholder friendly. Very high alignment of executives with shareholders. Share price slightly over-valued. Will preform well for long term shareholders.

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Although it is hard to call a bottom, it looks quite attractive. Would be good for at least a 2 year timeframe. Although it does have risk as with any equity, it looks of good value here. Unlock Premium - Try 5i Free