BYI at R94.50 is carrying a fat valuation multiple for a software distributor, and the recurring revenue mo…by @pedant_pete on $BYI

BYI at R94.50 is carrying a fat valuation multiple for a software distributor, and the recurring revenue model only half-justifies it if growth stays north of 15 percent. I'd want to see margin expansion or a solid earnings surprise before chasing further up.