TRX develops and hosts software applications to automate manual processes and track transaction data in the travel industry. Its suite of products and services that comprise TRAVELTRAX provides reporting through a Web-based data reporting tool; CORREX, which enables automated quality control, file finishing, and electronic ticketing, including low fare searches, seat assignments, upgrades, and alternate route and carrier searches. The company’s TRANXACT tool handles various activities for its clients, including exchanges, refunds, waivers and split payments, commission management, fare loading, document distribution, debit memo processing, and back office hosting and settlement

TRX’s customers include travel agencies, corporations, travel suppliers, government agencies, credit card associations, credit card issuing banks, and third-party administrators. The Georgia-based company does business in Asia, Europe and North America. Competitors include Informatica Corp., International Business Machines Corp. and the privately held SAS Institute Inc. Currently, analysts from Sun Trust Robinson Humprhey and Thomas Weisel Partners follow TRX, though neither brokerage house has issued a rating since 2007. The average price target for TRX shares is $4.

An encouraging sign for potential investors, insiders own almost all of TRX’s outstanding shares. Institutional owners include Fidelity mutual funds, LSV Asset Management and Horrell Capital Management. TRX had 2007 sales of $101 million and has cash on hand of $11.65 million. The company is expected to report third quarter results on November 14. Another good sign for investors may be the fact that TRX has issued no negative guidance; a surprise given its dependence on the downtrodden travel industry.

Shares of TRX closed 68 cents on Tuesday and have traded between 55 cents and $2.40 over the past 52 weeks. The company, founded in 1999, has a market value of $12.5 million and nearly 1,000 employees.

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