Review of Sylogist Ltd.
JUN 12, 2025 - SYZ used to be an attractive name for income investors, but it started to change the investment thesis completely in recent years. SYZ has invested meaningfully to become a growth SaaS name rather than a steady dividend-growth legacy software company. SYZ also focused more on organic growth rather than through large acquisitions. SYZ is a high-quality business with tremendous cash flow generation and an attractive double-digit growth driver from the subscription segment. SYZ may see a natural gross margin and multiple expansion over time as the SaaS subscription business becomes a larger portion of total revenue. It is still early days, but we are seeing a positive trend in SYZ’s fundamentals. We are open to an upgrade in the future if the company can continue to execute to drive double-digit subscription growth. To be conservative, we will maintain the rating at “B” for now.
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Sylogist Ltd. (SYZ $3.90)
- $3.90 Cap: $91M
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Sylogist Ltd. (SYZ $3.90)
- $3.90 Cap: $91M
- View SYZ Profile
- View Questions on SYZ
- View Reports on SYZ
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Sylogist Ltd. (SYZ $3.90)
- $3.90 Cap: $91M
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Microsoft Corporation (MSFT $422.79)
- $422.79 P/E (TTM): 26.44X Cap: $3.13T
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Constellation Software Inc. (CSU $2,626.45)
- $2,626.45 P/E (TTM): 78.39X Cap: $55.65B
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Descartes Systems Group Inc. (The) (DSG $104.62)
- $104.62 P/E (TTM): 44.73X Cap: $8.99B
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Kinaxis Inc. (KXS $147.02)
- $147.02 P/E (TTM): 43.36X Cap: $4.06B
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Open Text Corporation (OTEX $32.16)
- $32.16 P/E (TTM): 13.67X Cap: $8.05B
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Cognex Corporation (CGNX $55.50)
- $55.50 P/E (TTM): 81.62X Cap: $9.26B
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Topicus.com Inc. (TOI $102.60)
- $102.60 P/E (TTM): 318.93X Cap: $13.30B
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Lumine Group Inc. (LMN $22.08)
- $22.08 P/E (TTM): 83.97X Cap: $5.66B
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