Claremont Global’s Bob Desmond thinks the market is too conservative on the global payments company, and is confident that Microsoft has AI upside.
Already a subscriber?Bob Desmond is portfolio manager at Claremont Global. The firm oversees about $1.5 billion in assets.
We don’t focus on short-term share price moves and instead think about fundamentals three to five years out. – across multiple products, but perhaps most importantly the Office suite, including Teams. Over time, we expect this will only improve. The cost of Copilot at around $US30 a month, compared with the value delivered already, we believe there’s material upside from increasing user adoption of Copilot over the next three years.Visa is one of our most undervalued names on a risk reward basis. The company dominates payments, and last year payments volume was $12.
The business currently trades 26 times next 12-month consensus earnings versus a five-year average of 29 times, and relative to the market the company trades for a 28 per cent premium versus its five-year average of a 48 per cent premium.Jack Henry is a technology business based in Missouri that provides solutions for more than 7500 banks and credit unions in the US.Banks loath changing their core processing systems, and experts have described it to us as akin to open-heart surgery.
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