All research in IT Solutions — 1 reports.
A high-end digital engineering services firm with steady cash flow, roughly $876 million in net cash, and a no-longer-expensive valuation at about 14.7x earnings. The moat is moderate-to-weak and operating margin has slipped to 9.5%, leaving AI substitution and Ukraine exposure as the swing variables. Rating Cautious Buy: a financially resilient compounder priced near its conservative floor, with an ideal entry of $80–95.
