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Technology Stocks : Transaction Systems Architects (TSAI)
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To: AJ Berger who wrote (47)10/26/1999 5:11:00 PM
From: kinkblot  Read Replies (2) of 63
 
TSAI looks cheap to me, too,

but it didn't move within my allotted time-frame; I sold Sep 17.

Buying TSAI would be better than this, imo:

"The company repurchased approximately 8.6 million shares of stock in the quarter. Since it initiated a stock repurchase program in September 1998, the Company has purchased a total of 24.4 million shares at an average price of $36.84."

That's from First Data's third quarter earnings release. So, they've been repurchasing shares at more than 20 times earnings. That cost them ~900 million. Their eps growth was 13.5% over the nine months thru 9/99 {including 3.5% from share reduction}. An acquisition of TSAI at today's price would be at about the same p/e, yet real earnings growth is more than twice as great.

If TSAI fits with FDC's corporate strategy, the rumor at least has some plausibility.
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