Sounds like a good move @Scott, at least IMHO. I'm still glad I moved my shares held in SM for $10, but also glad I have held my original holding IRL portfolio and hope (intend) to see this classy company rise back up to that value over time. Meanwhile I'll take the nice dividend yield and the great management team as a consolation prize.

I will be very tempted to move the IRL holdings if we hit the $10/share mark though, as it seems to have been a high that has always been a back stop for DTL.

Well done @lowway and no doubt there would have been plenty of times you could have "cashed out" along the way.

I have been following DTL closely for a few years including multiple meetings with management and the Board. My two cents - you have excellent, trustworthy management still running the business and possibly the best and most shareholder friendly Board they have ever had, after a few recent changes.

Does their industry still have tailwinds? I'd vote yes.

Are they facing new, really serious competition they would struggle to compete with? I'd vote no, as while Insight have won a couple of contracts DTL has never had total market share. And they will no doubt respond to them. With their very low net profit margin, competitors don't have much fat to go after either.

Are the still growing? Yes sales and earnings have more then tripled over 10 years and more than doubled over 5 years. ROE and ROC continue to increase as well and are at very high levels given it's a capital light business.

How about debt? It's low and very manageable.

Price? The multiple at 31 is up around the top end of its range rather than around 20 which is the low end. So, you could make a case for selling or trimming on price but equally this multiple is relatively low for companies with similar growth and return metrics on the ASX.

So, it still looks like a high quality, well run business to me and you have to forecast future problems that haven't been proven yet to be hitting the sell button in my view.

I bought DTL late 2024 when Mr Market had a sale on it. DTL wasn’t a holding I had even considered selling yet. However the PE is getting up there and there is likely to be some psychological resistance around $10. This is a wonderful business and not one I’d part with easily.

Well, I decided to split the difference yesterday after the share price passed my magical $10/share and keep my long, long (somewhat significant) IRL holding in $DTL, but sell my SM holdings to play in other areas ($ARB for one).

Sensibly, with the benefit of hindsight, I should have followed with a partial sale IRL, but it's been such a gem and after further research using my AI friends, I tend to align with @Karmast and @Rick. That is not to say that I don't think @Scott made some very salient points, but a strong and effective Board was the clincher for me, at least IRL. It is coping a pounding today, but so is tech generally and it will be just another wave to ride out (here's hoping!!).

And unlike some of the pure SaaS companies, DTL can sell and then service whatever their customers want. So, if AI takes over the world all good - DTL can hopefully implement it and support their customers in that world too. Not saying there are no disruption risks of course - just that they should be less exposed than a single software business would be...