PS&C: A hidden opportunity

The market has unfairly dismissed this IT services company since it listed… and now it offers double-digit earnings growth and a 7%-plus yield.

PS&C (PSZ) is a Melbourne-based IT services company that listed at $1.00 in December 2013. The initial public offering (IPO) involved a roll-up of five businesses and a sixth was acquired in August 2014 called Pure Hacking.

At a current share price of $0.82 (or at a $46m market cap) the stock is significantly undervalued and we have a “buy” recommendation with a $1.25 valuation and target price.


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