Khadija Saeed

January 25, 2026, 5:37 PM EST. Objective Corporation (ASX:OCL) approved a 10% share buyback program amounting to 9.59 million shares, extending to February 2027. Despite a 18.55% decline in its 90-day share price, the 1-year total shareholder return remains slightly positive at 0.57%. With A$123.5 million in revenue and A$35.44 million net income, the stock trades at A$16.29, compared to a fair value estimate of A$17.68 indicating a 7.9% undervaluation. The company, a key software provider for governments across Australia, New Zealand, and the UK, boasts a highly recurring revenue base and longstanding customer contracts. However, it faces risks like government procurement slowdowns and competition from larger vendors. Objective's price-to-earnings ratio stands at 44.1x, higher than peers, suggesting investors pay a premium for quality but raising questions about valuation sustainability.