The Toronto-based legal and financial software company’s stock rose more than 17 per cent after it said it would buy back up to five per cent of its shares. It also declared a 1.875-cent per-share dividend and reported quarterly revenue in line with preliminary results from earlier this month, even as it posted a modest $3.3 million net loss. (The Logic)

Talking point: The company is putting its cash to work after failing last week to buy Australian company Link Group, a deal that was once worth as much as $3.2 billion. The company has grown rapidly, spending about $1.7 billion on acquisitions since its initial public offering in July 2020, but has encountered challenges from regulators on some deals, complaints about price increases and a failed attempt to take it private for $3.4 billion last year. “Our capital allocation strategy is clearly working,” CEO Matt Proud said in a press release. “In just two years, we have scaled the business approximately eightfold.” The company still sees new opportunities to expand and diversify, Proud added.