Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

Tyler Technologies / Equity Capital Markets

<ul><li>Tyler Technologies had a very disappointing result to finish the year as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.</li><li>It had an eventful year as public sector demand remains strong and SaaS adoption continued to grow.</li><li>Revenue increased by 4.3%, with organic revenue growth of almost 6%, excluding COVID-related revenue, and solid inorganic revenue growth of about 8.2% for the entire year.</li></ul>

Tyler Technologies had a very disappointing result to finish the year as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.It had an eventful year as public sector demand remains strong and SaaS adoption continued to grow.Revenue increased by 4.3%, with organic revenue growth of almost 6%, excluding COVID-related revenue, and solid inorganic revenue growth of about 8.2% for the entire year.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

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<a href="https://www.smartkarma.com/entities/readytech-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29105:1" rel="noopener">ReadyTech Holdings Ltd (RDY AU)</a> confirmed that it received a conditional, non-binding indicative proposal from Pacific Equity Partners (PEP) at A$4.50 per share, a 38.9% premium to the undisturbed price.</li>
<li>PEP aims to jointly work with Pemba, the largest shareholder with a 32.01% stake, on the proposal. Microequities, the second-largest shareholder, is said to oppose the offer.</li>
<li>The offer represents an all-time price high but struck at a discount to peer multiples, suggesting room for a bump. At last close, the spread to the offer is 8.4%.</li>
</ul>



ReadyTech Holdings Ltd (RDY AU) confirmed that it received a conditional, non-binding indicative proposal from Pacific Equity Partners (PEP) at A$4.50 per share, a 38.9% premium to the undisturbed price.
PEP aims to jointly work with Pemba, the largest shareholder with a 32.01% stake, on the proposal. Microequities, the second-largest shareholder, is said to oppose the offer.
The offer represents an all-time price high but struck at a discount to peer multiples, suggesting room for a bump. At last close, the spread to the offer is 8.4%.


ReadyTech’s Indicative Offer of A$4.50 from Pacific Equity Partners Good Enough?

<ul><li>Tyler Technologies delivered yet another all-around beat that was a result of its 3% organic growth in this quarter, excluding COVID-related revenues of approximately 9%.</li><li>It reflects both company's accelerating shift to the cloud and growth in transaction-based revenues.</li><li>Overall, we provide the stock of Tyler Technologies with a ‘Hold’ rating and a revision in the target price.</li></ul>

Tyler Technologies delivered yet another all-around beat that was a result of its 3% organic growth in this quarter, excluding COVID-related revenues of approximately 9%.It reflects both company's accelerating shift to the cloud and growth in transaction-based revenues.Overall, we provide the stock of Tyler Technologies with a ‘Hold’ rating and a revision in the target price.

Tyler Technologies: Acquisition of Rapid Financial Solutions & Other Drivers

Equity Bottom-Up

<ul><li>Tyler Technologies is benefitting from positive trends in the environment of the public sector market as its demo activities, and RPF continue to trend positively.</li><li>The company leveraged successful cross-selling efforts and multi-suite wins to deliver a solid quarter with revenues and earnings surpassing Wall Street expectations.</li><li>Overall, we provide the stock of Tyler Technologies with a ‘Hold’ rating with a revision in the target price.</li></ul>

Tyler Technologies is benefitting from positive trends in the environment of the public sector market as its demo activities, and RPF continue to trend positively.The company leveraged successful cross-selling efforts and multi-suite wins to deliver a solid quarter with revenues and earnings surpassing Wall Street expectations.Overall, we provide the stock of Tyler Technologies with a ‘Hold’ rating with a revision in the target price.

<ul><li>Tyler Technologies had a promising start to the year 2022 with an organic growth of 12.8%, the highest in 20 quarters, and total revenues increasing by about 55%.</li><li>NIC continued to grow its core revenue by 13% in the last quarter, excluding Covid-related revenues.</li><li>Revenues from the new statewide payments contract in Florida and revenues from corporate filings with the Department of State boosted NIC's growth.</li></ul>

Tyler Technologies had a promising start to the year 2022 with an organic growth of 12.8%, the highest in 20 quarters, and total revenues increasing by about 55%.NIC continued to grow its core revenue by 13% in the last quarter, excluding Covid-related revenues.Revenues from the new statewide payments contract in Florida and revenues from corporate filings with the Department of State boosted NIC's growth.

Tyler Technologies Inc.: The Quatred Acquisition & Other Developments

United States

Tyler Technologies, Inc. provides end-to-end information management solutions and services for local governments. The Company's client base includes local government offices throughout the United States, Canada, Puerto Rico, and the United Kingdom.

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Tyler Technologies (TYL US)

Tyler Technologies Inc.: Major Drivers

Tyler Technologies had a very disappointing result to finish the year as the company failed to meet the revenue expectations as well as earnings...

Baptista Research

ReadyTech’s Indicative Offer of A$4.50 from Pacific Equity Partners Good Enough?

The offer represents an all-time share price high but struck at a discount to peer multiples, suggesting room for a bump. At the last close, the...

Arun George

Tyler Technologies: Acquisition of Rapid Financial Solutions & Other Drivers

Tyler Technologies delivered yet another all-around beat that was a result of its 3% organic growth in this quarter, excluding COVID-related...

Baptista Research

Tyler Technologies: Recent Acquisitions

Tyler Technologies is benefitting from positive trends in the environment of the public sector market as its demo activities, and RPF continue to...

Baptista Research

Tyler Technologies Inc.: The Quatred Acquisition & Other Developments

Tyler Technologies had a promising start to the year 2022 with an organic growth of 12.8%, the highest in 20 quarters, and total revenues...

Baptista Research

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