They caught my eye when I was reading through a investment magazine - that was a couple of months old. They were tipping it at 1.70ish with PE around 13 times. I had remembered looking at it before but it was priced too expensive....but earnings had since caught up. Then when I looked, they were 2.10ish...and bought shortly afterwards before they got away too much more.

I find it interesting management are predicting only 15% growth. That would be the lowest growth since profitability occurred in 05. I'm not sure where they are getting 15% from, as only recently they weren't providing guidance. FLT was providing guidance of 15% growth if I remember rightly.

There is plenty of scope to grow this business...but like anything, it could get too expensive. Priced on a forward PE of 20 would imply a price of around $3.15. I don't think a PE of 20 would get it though....and could easily blow out to PE of 25, circa $4 on some substantial takeover rumours. Not huge upside, but relatively safe..