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TMSNY - Temenos: Embracing The Digital Banking Trend
Temenos AG ADR
Overview
Dubbed as the Swiss' Oracle, Temenos (TMSNY) was founded in 1993 as a company providing software solutions to banks and financial institutions. Temenos currently serves 3,000 customers in over 150 countries. Shares were down by ~15% to ~$144.8 per share about a week after its Q3 earnings call. The company's miss on revenue, driven by the soft MEA sales, appears to be the major headwind this time around.
We think that Temenos' overall fundamental picture is very solid nonetheless. In a highly regulated industry characterized by high switching cost yet long sales