Why IHR is a buy., page-86

I think once they start snowballing their client base it could be a reasonable takeover target for a company like Xero or Salesforce.

But on the other hand, they might be looking to butt in on Xero's market if they expand into payroll and procurement.

It's all just speculation at this point.

As for who's buying, it looks like retail trades. But because the stock is so tightly held, if you want to buy, you have no choice but to push up the share price unless you can snag someone taking profit to buy in.