“TechnologyOne Ltd (TNE) is an Enterprise Resource Planning (also known as Accounting) company,” Raymond said.

“It’s one of the highest quality companies on the ASX, with an impressive return on earnings (ROE), nearly $200 million of net cash and a 30-year history of growing its earnings by approximately 15% and its dividend approximately10% per annum.

“As a result of its impeccable track record, TNE trades on high price earnings.

“With earnings growth looking likely to accelerate towards 20% a year, we think TNE’s trading multiple is likely to expand from here.

“We have added TNE to our best idea list,” Raymond said.

 TechnologyOne Ltd (TNE)

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