Technology One rallied 9% following the recent Algo Engine buy signal. The short-term indicators supported the reversal from the $8.00 higher low formation.
Stay long TNE with stops below $8.00.
Technology One now comes onto our radar following yesterday’s Algo Engine buy signal.
Technology One is one of Australia’s largest enterprise software services companies.
Key results were as follows for 1H 20 earnings
Profit after tax of $19.1m, up 6%
Profit before tax of $25.9m, up 6%
Revenue of $138.4m1, up 7%
Expenses of $112.5m, up 7%
SaaS Annual Recurring Revenue (ARR)2 of $110.2m, up 33%
Cash Flow Generation of $9.9m, up 100+%
Cash and Cash Equivalents of $84m, up 23%
Dividend of 3.47cps, up 10%
We’ll review the full-year earnings in the coming weeks when they release their June numbers.