| TOP PICK | 15.280 | Robert Floyd | Provides a backend solution for healthcare services companies. Large acquisition had some dilutive effects on earnings but will be back on track next year. | 2008-06-24 | |
| TOP PICK | 16.170 | Robert Floyd | Back office solutions for Pharmacy/health benefit providers. Health card systems will change the shape of the company. | 2008-05-30 | |
| TOP PICK | 14.670 | Robert Floyd | Provide the back-office systems for pharmacies. Made an interesting acquisition, which will add substantially to their overall business. Also announced a contract with Tennessee. | 2008-04-29 | |
| TOP PICK | 10.480 | Robert Floyd | Provide the back end solution for a lot of pharmacies, and companies of that type. Are making acquisition of National Health in the states for $143 million, who is one of their major customers. Will add substantially to the size of the company. Last quarter was back on track, compared to the past. | 2008-03-20 | |
| PAST TOP PICK | 16.170 | Robert Floyd | (A Top Pick Feb 1`3/07. Down 32%.) Provide back-office solutions for lot of healthcare providers. Really likes this one now. Has gone through some of the tough times. Still a Buy. | 2008-01-15 | |
| PAST TOP PICK | 14.510 | Hugh Cleland, CFA | (A Top Past Pick Dec14/06. Down 35.1%.) Still likes and is still buying. | 2007-12-27 | |
| BUY | 13.750 | Alex Ruus | Pharmacy benefit management. Their solution is undercutting the big incumbents in the US. Really likes this story going forward. Likely bottoming and there should be good performance in 08. | 2007-12-13 | |
| Comment | 12.160 | Hugh Cleland, CFA | Fundamental problems drove the stock down. Has a good business model in pharmacy benefit management, which they can do for $2 per prescription that others need $5 for. Should give them a lot of traction. Missed Q2 earnings estimates and guided down for the year. Also made a mistake causing the state of Georgia to disallow them. They hope to get this back on track. | 2007-11-23 | |
| PAST TOP PICK | 12.200 | Lesley Marks | (A Top Pick June 26/07. Down 60%.) Had just announced a possible $27 million contract at that time. They also missed on their quarter. Sold her holdings when they didn't get the contract. | 2007-11-15 | |
| BUY | 12.170 | Robert Floyd | Provides back-office systems to pharmacies. Have sustainable revenues. A few issues this year in terms of earnings expectations. Built a staff a little bit beyond where they should have been. Had to pare back operations modestly. Trying to refocus into the higher growth area. Good price. | 2007-11-14 | |
| BUY | 15.820 | Hugh Cleland, CFA | Very visible cash flow and high margins. Gaining increased market share in the pharmacy management industry. Missed their numbers for the June quarter and lowered their guidance. Value managers are now buying. Revenues and expenses are in the US so a stronger Cdn$ does not affect them. | 2007-09-28 | |
| PAST TOP PICK | 18.590 | Hugh Cleland, CFA | (A Top Pick Sept 7/06. Up 14%.) Prescription processing between pharmacies, patients and insurance in the US. Still buying below $20US. | 2007-09-07 | |
| BUY | 30.850 | Robert Floyd | Provides back-office for pharmacies. Located in Canada and US. Have been winning quite a few extensive contracts. | 2007-07-12 | |
| TOP PICK | 29.490 | Lesley Marks | Healthcare information technology. Not a cyclical business. Good underlying growth. They can sell into their customer base to offer value added to decrease costs. | 2007-06-26 | |
| TOP PICK | 27.490 | Robert Floyd | Back-office solution for pharmacies, both in the US and Canada. Doing a very good job of building out their product base. Extremely strong earnings/revenue growth. | 2007-05-30 | |
| TOP PICK | 26.480 | Hugh Cleland, CFA | (A Top Pick Sept 7/06. Up 60%.) Has had this in his portfolio for 5 years and expects it to be there another 5 years. A fantastic entry point on a 6 to 12 month basis. | 2007-05-24 | |
| PAST TOP PICK | 26.120 | Robert Floyd | (A Top Pick May 16/06. Up 50.1%.) Back-office solution for pharmacies. Revenues are ticking along quite nicely. Still a Buy. | 2007-05-11 | |
| TOP PICK | 24.830 | Robert Floyd | Provides back end solutions to pharmacies. Does a very good job of providing very efficient solutions. Revenues have been growing dramatically. Good margins and good growth. | 2007-04-19 | |
| PAST TOP PICK | 21.400 | Hugh Cleland, CFA | (A Top Pick Sept 7/06. Up 29.8%.) Has gone a little quiet. Had great 2007 guidance. | 2007-03-26 | |
| DON'T BUY | 22.880 | Robert McWhirter | Just announced a new $5 million contract. Ranks neutral in his model. Earnings were down 12%. High P/E of 29. Recently sold his holdings. | 2007-02-28 | |
| TOP PICK | 23.460 | Robert Floyd | Provides software for the pharmacy business. Very strong balance sheet. | 2007-02-13 | |
| HOLD | 24.370 | Robert McWhirter | 87 ranking in the model, which is quite high. Likes their recurring revenue. Bidding on a large number of medical contracts. Strong Hold. | 2007-01-25 | |
| PAST TOP PICK | 23.900 | Hugh Cleland, CFA | (A Top Pick Sept 7/06. Up 38.4%.) Still likes. Traction they are getting with their disruptive business model is changing the face of the pharmacy benefit industry in the US. | 2007-01-24 | |
| TOP PICK | 22.230 | Robert Floyd | Provides software for the pharmacy sector. North American wide now. A lot of operations in the US as well as Canada. Very strong growth rate. Guidance is for $.72. Strong balance sheet and could make an acquisition which would add to earnings. | 2007-01-19 | |
| TOP PICK | 23.650 | Robert Floyd | Provide pharmaceutical software for a growing need of companies that need these services. Has been growing quite dramatically. | 2007-01-03 | |
| BUY | 23.450 | Robert Floyd | Provide software services for the payer market on the pharmaceutical side.. Has had a terrific move this year. Their growth is phenomenal. Looking for it to move higher. | 2006-12-19 | |
| TOP PICK | 22.470 | Hugh Cleland, CFA | (A Top Pick Sept 7/06. Up 32.9%.) Successfully introduced a business model into the pharmacy benefit management industry. Last 3 contracts have been real company transforming events. Cheap. A 3 to 5 year hold. | 2006-12-14 | |
| DON'T BUY | 21.220 | Robert McWhirter | In the top 25% of the database. Sold his holdings when he thought the stock was running out of gas. Bidding on some very substantial contracts, which is why the stock spiked up. Expensive. | 2006-11-28 | |
| SELL | 17.300 | Robert McWhirter | Things are slowing down with the company. Made a ton of sales and money on the conversion to Medicare part D. 70% of their income is from recurring revenue. Feels they will have a 30% tax increase. Sold his holdings. | 2006-10-25 | |
| PAST TOP PICK | 18.450 | Robert Floyd | (A Top Pick Sept 29/05. Up 100.2%.) Sells software to pharmacies, etc. US legislation allowed additional Americans to get coverage under Medicaid. Growth rate is very strong. | 2006-10-13 | |
| PAST TOP PICK | 18.810 | Robert Floyd | (A Top Pick Sept 29/05. Up 708.3%.) Still sees some pretty good earnings expectations. | 2006-09-20 | |
| TOP PICK | 16.690 | Hugh Cleland, CFA | Developments over the next year in a number of different areas in their business could be a potential double from here. Risk/reward is very good. | 2006-09-07 | |
| PAST TOP PICK | 15.680 | Robert Floyd | (A Top Pick May 16/06. Down 10.2%.) Consolidated the stock and also did an issue and are looking to an acquisition in the US. Earnings outlook is still extremely strong. | 2006-08-18 | |
| TOP PICK | 14.800 | Robert Floyd | In a very interesting position. Involved in the pharmacy business, streamlining operations with their software. Have announced a number of contracts over the last little while. Earnings will be quite strong. | 2006-08-02 | |
| BUY | 13.160 | Robert McWhirter | Ranks 51 in his model, which is in the top 10%. Earnings expected to go from $.50 to $.75. Have a huge amount of recurring revenue. A non-cyclical company. | 2006-07-25 | |
| TOP PICK | 12.990 | Robert Floyd | Basically supplies software solutions for pharmacies. Growth rate has been very strong and is still in place. Looking for provincial contracts in Newfoundland and Quebec. | 2006-07-14 | |
| BUY | 14.360 | Robert McWhirter | Had a consolidation of 4 to 1. In the top 5% of his database. Expecting a 55% earnings growth. Some big opportunities coming over the next several months. Likes their recurring revenue. | 2006-06-21 | |
| HOLD | 4.060 | Peter Hodson | Likes what they are doing from an execution point of view. Will be listed on NASDAQ and thinks the US investors will like the story. | 2006-06-06 | |
| TOP PICK | 4.350 | Robert Floyd | Provide software services to pharmacies. Have been providing a nice return of late. Numbers are very strong and continue to look strong going forward. Very popular product, both in Canada and the US. | 2006-05-16 | |
| BUY | 4.030 | Robert McWhirter | Systems Excellence has good earnings. It has done well over the last year. It is a good opportunity. One of his top ten holdings. Ranks 16 in the database. It should survive even if we have a market pull back. | 2006-03-13 | |
| TOP PICK | 2.590 | Howard Sutton | A defensive play in that 90% of their backlogs is recurring. They are in the software and service business, managing prescription benefit programs. Got into a new business about a year ago giving more into the pharmaceutical system. There is a US law on January 1 that will be a boon to this company. | 2005-12-22 | |
| TOP PICK | 2.290 | Robert Floyd | The company is interesting. They provide software to pharmacies to streamline their operations. The company has jusy got a big contract. Earnings will be $0.09 this year and $0.13 next year. | 2005-09-29 | |
| BUY on WEAKNESS | 2.200 | Robert McWhirter | Ranks highly his database. Earnings are expected to go from $0.11 to $0.15, a 21% earnings growth. Against a 15 P/E gives you a .8 P/E to growth. If the market pulls back you may be able to buy it below $2. | 2005-09-15 | |
| DON'T BUY | 2.300 | Jean-Francois Tardif | Has disappointed him in the past and seems to do this all the time. Recent results don't look very good to him. Made a lot of acquisitions, but earnings are not that good. | 2005-08-29 | |
| PAST TOP PICK | 1.550 | Brendan Kyne | (A Top Pick Nov 19/03. Down 37%.) Sold off some time ago. Company is fairly sound and has cash. | 2005-05-31 | |
| TOP PICK | 1.480 | Werner Muehelemann | Technology stock valuations have come down a lot and is a sector that still has potential to grow. Trades around 11 X forward earnings which is pretty cheap. They are going to double their earnings from last year's. Likes the health care sector that they are in. Revenue model is going more to a transactional basis rather than license. | 2005-03-23 | |
| DON'T BUY | 1.350 | Robert McWhirter | Ranks borderline of the bottom 1/3 of the database. Earnings estimates have been revised downward. 12 PE overall for reasonable are ROE of 21%. | 2004-08-20 | |
| BUY | 1.120 | John Embry | Likes management. As an interesting land package in Chile. Speculative. | 2004-04-15 | |
| WAIT | 1.870 | Peter Hodson | Expect the stock won't do a lot until they do a major acquisition along with a finance. Well-run. | 2004-04-08 | |
| BUY | 1.850 | Ed Ho | Dropped because of speculation in the market that they were going to do an acquisition. Likes management. Have good revenue and are growing reasonably. | 2004-03-24 | |
| WAIT | 2.450 | Robert McWhirter | About mid-point in the database. The large contract they have, runs out of steam the middle of this year. | 2004-01-30 | |
| DON'T BUY | 2.250 | Andrew McCreath | Not a big fan of medical tech system companies. Stocks had big run. Wouldn't buy at this level. | 2004-01-28 | |
| DON'T BUY | 2.200 | Andrew McCreath | Not a big fan of medical technology information systems as so many have had good stories, but never made any money. | 2004-01-26 | |
| BUY on WEAKNESS | 2.240 | Peter Hodson | Likes the company. Have had some pretty good traction. Likes the space. Would buy under $2. | 2004-01-23 | |
| BUY | 2.500 | Robert McWhirter | Ranks very well in the database. Year-over-year earnings growth is up 40%. ROE is expected to be 41%. | 2004-01-05 | |
| TOP PICK | 2.230 | Brendan Kyne | Earnings growth is consistent 65% of earnings is recurring which is very high. Very cheap on a multiples basis. | 2003-12-17 | |
| BUY | 2.370 | Peter Hodson | A bit of an overhang in that there is a lot of stock for sale. Starting to get traction with their customers. Might go to $3.50/4 long-term. An acquisition target. | 2003-12-04 | |
| BUY | 2.440 | Robert McWhirter | Has done very well and thinks there is still opportunity. In the top 8% of the database. Earnings are expected to grow from 13¢ to 17¢. Continuing to work on some very large contracts and hopefully they will be closed in the new year. | 2003-11-21 | |
| TOP PICK | 2.480 | Brendan Kyne | Has delivered 2 very profitable quarters, 3¢ a share and are looking for them to earn 12¢ 13¢ for the Feb year-end and .20¢ next year. Probably will be a takeover. | 2003-11-19 | |
| WAIT | 2.000 | Peter Hodson | There is some profit taking going on. There is a big overhang in that some dealers are try to get rid of a block which is putting short-term pressure on the stock. Still a good story. This space is pretty strong. Expected to be acquired ultimately. | 2003-11-14 | |
| BUY | 2.340 | Robert McWhirter | Ranks high in the model. Earnings are forecast to grow from 0.14¢ 0.17¢. A 15% earnings growth against a 15 P/E, gives a good P. E. growth. Year-over-year sales growth is pretty good. | 2003-11-07 | |
| BUY | 2.460 | Glenn Paradis, BA, CFA | Likes the business. They understand the dynamics of the industry. A lot of opportunity for them to continue to grow top and bottom. Good price. A little bit risky. | 2003-10-24 | |
| DON'T BUY | 2.310 | Andrew McCreath | A pretty tough industry to consistently make money in. Has delivered, but feels the shares are a little pricey. | 2003-10-20 | |
| BUY | 2.860 | Robert McWhirter | Ranks as #6 in the Canadian database on techs. Still thinks there is good opportunity going forward. Earnings are expected to grow from $0.08 to $.13 per share. They are bidding on some very interesting contracts. | 2003-10-10 | |
| DON'T BUY | 2.510 | Robert Floyd | Would prefer at a lower price. | 2003-09-22 | |
| BUY | 2.590 | Peter Hodson | New management has turned the company around. Starting to get an accelerating contract win situation. (Do back office transaction between pharmacies, payer, insurance company, etc. Good product.) Winning market share. | 2003-09-09 | |
| BUY | 2.650 | Robert McWhirter | 60% of their revenue is recurring. Strong transaction based. Still pretty good opportunities. Should be more upside. | 2003-08-29 | |
| TOP PICK | 2.520 | Kyle McKay | Estimating that they will do about $15 million in revenues and $16/18 per share. Good price. | 2003-08-28 | |
| STRONG BUY | 2.200 | Brendan Kyne | Software company that facilitates connection between the pharmacy and insurance company.Earnings should go up.No debt.Trading below 10 times earnings.A great story. | 2003-08-26 | |
| BUY | 1.100 | Robert McWhirter | Has just broken out from a technical analysis. Working on some long term contracts. Should move forward. | 2003-05-16 | |
| WEAK BUY | 0.780 | Robert McWhirter | OK earnings. Outlook is pretty good, but a speculative buy. | 2003-01-24 | |
| BUY | 0.620 | Ray Steele | Should start to perform better. High volumes and low margins. | 2002-12-04 | |
| TOP PICK | 0.800 | Malvin Spooner | Expect a lot of growth in this sector | 2001-03-14 | |
| BUY | 0.730 | Malvin Spooner | Stock has dropped because they are trying to raise money and trying to take over their competitors. | 2001-02-20 | |
| BUY | 2.000 | Bruce Sellery | Cheap as a tech. Small volume | 2000-10-03 | |
Experts that have talked about Systems Xcellence
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