Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

United states It / Thematic (Sector/Industry)

Within the Technology sector, investors often unfairly gloss over the large, fragmented world of IT services, focusing instead on product development surrounding the latest hardware and software innovations. However, we believe the services market provides fertile ground for economic moats to proliferate. While the soft qualitative skills required to acquire and retain customers can seem vague, this Technology Observer serves to shine a light on the industry and provide investors with a manageable framework with which to judge vendors based on pertinent business trends.As the industry evolves, we think there are pockets within the market that are undergoing significant, often misunderstood, structural changes. For instance, digital readiness and cloud computing are reshaping client demand, legacy services, and vendor go-to-market. As these forces resonate through the industry, we think some vendors, like <a href="https://www.smartkarma.com/entities/13468" target="_blank" data-smartkarma-citation="entities:13468:1">Accenture Plc Cl A (ACN US)</a>, <a href="https://www.smartkarma.com/entities/21411" target="_blank" data-smartkarma-citation="entities:21411:1">Cap Gemini SA (CAP FP)</a>, <a href="https://www.smartkarma.com/entities/2785" target="_blank" data-smartkarma-citation="entities:2785:1">Cognizant Tech Solutions A (CTSH US)</a>, and <a href="https://www.smartkarma.com/entities/1064" target="_blank" data-smartkarma-citation="entities:1064:1">Intl Business Machines Corp (IBM US)</a>, are better positioned than others to adjust. Of the 10 companies under coverage, our top investment idea is Cognizant, as it offers investors a quality, well-positioned vendor that trades at a significant discount to our $69 fair value estimate.Analysts: Andrew Lange, Brian Colello &amp; Hari Narayan

Within the Technology sector, investors often unfairly gloss over the large, fragmented world of IT services, focusing instead on product development surrounding the latest hardware and software innovations. However, we believe the services market provides fertile ground for economic moats to proliferate. While the soft qualitative skills required to acquire and retain customers can seem vague, this Technology Observer serves to shine a light on the industry and provide investors with a manageable framework with which to judge vendors based on pertinent business trends.As the industry evolves, we think there are pockets within the market that are undergoing significant, often misunderstood, structural changes. For instance, digital readiness and cloud computing are reshaping client demand, legacy services, and vendor go-to-market. As these forces resonate through the industry, we think some vendors, like Accenture Plc Cl A (ACN US), Cap Gemini SA (CAP FP), Cognizant Tech Solutions A (CTSH US), and Intl Business Machines Corp (IBM US), are better positioned than others to adjust. Of the 10 companies under coverage, our top investment idea is Cognizant, as it offers investors a quality, well-positioned vendor that trades at a significant discount to our $69 fair value estimate.Analysts: Andrew Lange, Brian Colello &amp; Hari Narayan

Leshi Internet Info. & Tech. Corp.,Bj (300104 CH)

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