The shares of performance management software specialists Integrated Research Limited (ASX: IRI) have had a huge month, sitting at an 11% gain so far at $3.25 but peaked at $3.34 earlier in the week after a big announcement and some big expectations!
What’s happening at Integrated Research Limited?
The main catalyst for this month’s move appears to be the appointment of a new CEO on June 12, however the Australian dollar has moved significantly over the month which may have contributed to the performance as the company receives over 90% of its revenue overseas.
Time to buy?
Integrated Research is a complex company and a strange business to be a shareholder of. The share price regularly treads water for periods of 3-6 months but a look at the long-term graph shows that management have generated excellent returns for long-term shareholders.
Also notable is the lack of sharp falls. Analysts and commentators have been critical of management that are unable to meet forecasts (ie. QBE Insurance Group Ltd (ASX: QBE)), so Integrated Research’s track record makes it a promising target.
The downside though, is that the company is looking expensive, at a price-to-earnings ratio of around 28 times and with a new CEO in charge there is the potential for the company’s performance to move significantly in the short to medium term.
Now may be the time to investigate shares with a better dividend yield than Integrated’s sub-4% option.
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Motley Fool contributor Andrew Mudie owns shares of Integrated Research Limited and QBE Insurance Group Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.