Gentrack's share price rises

With this billing software maker's share price up 31% since our initial Buy recommendation, it's time for a downgrade.

Gentrack's share price has risen 11% since Gentrack, water and illiquidity from 9 Mar 16 (Buy – $2.10) and is now up 29% since our initial upgrade in Gentrack cleared for takeoff on 11 Aug 15 (Buy – $1.80). With an underlying price-earnings ratio of 17, based on earnings for the year September, we're downgrading to HOLD.

Disclosure: The author owns shares in Gentrack.