Hansen's share price rise
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It was a short-lived opportunity. Software maker Hansen Technologies' share price has risen 8% since we upgraded the stock to Buy in Hansen: Beyond the headlines on 27 Jun 18 (Buy – $2.99). Management expects underlying earnings per share of 19.0 cents in 2018, putting the stock on a forward price-earnings ratio of 17 and a fully franked dividend yield of 1.9%. Hansen has captive customers, pricing power, high returns on capital, and plenty of free cash flow. However, with the share price now above our recommended Buy price, we're downgrading to HOLD.
Note: The Intelligent Investor Equity Growth Portfolio and the InvestSMART Small Companies Fund own shares in Hansen Technologies. You can find out about investing directly in Intelligent Investor and InvestSMART portfolios by clicking here.
Disclosure: The author owns shares in Hansen Technologies.
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