Brad Vizi: Yes. I think that’s a fair assessment, Bill. I said look, I think these things tend to follow kind of economic trends with respect to sentiments around just the economy in general or nerves and those don’t always match up with reality. So I think we potentially can stand to benefit substantially from that. And so repurchases is one way to go about it. So and when you look at the map of these levels, it becomes quite compelling and frankly, makes the capital allocation decisions pretty easy, at least over the near term there, so.
Operator: Next up, we have Alex Rygiel.
Alex Rygiel: Thank you for the directional guidance for 2023. Very helpful. But Brad, maybe you could talk a little bit about maybe at the macro high-end level. Long-term growth expectations as it relates to revenue growth? And maybe just talk a little bit about margins long term and directionally how they can go higher?
Brad Vizi: Yes. No, that’s a fair and comprehensive question. So as we may have said before, Alex, on the revenue front, you can book a lot of revenue in the services business. We are very focused on booking quality, productive revenue at adequate margins that ultimately translate into free cash flow. So very much returns focused in that regard. But I’ll also add that there’s been a major move over the last several years to make sure underwriting is really paramount in what we do as we continue to move up the value chain and feel more differentiated, high value-add solutions to our client portfolio. We always need to be cognizant of our underwriting and our selection of business. So from a margin perspective, generally speaking, when you balance growth and where we’re at in the right cycle of the company and where we hope to get the company long term, we should for a double-digit operating margin.
So there’s certainly upside to where we’ve been in the past. But again, there’s a bit of a toggle between maximizing that part of the P&L and high-return investments. So I would look to something similar to what we’ve had this last year with some band around that. But long term, we certainly think that we can enhance the margin profile of the company. And I think you’re already starting to see that throughout the divisions for the most part.
Alex Rygiel: And then as it relates to the school health care business, can you help us to understand sort of the — what the intermediate term outlook is for — or how you’re driving growth as it relates to new schools or new school systems versus greater depth inside existing systems versus pricing?
Kevin Miller: Well, I can talk a little bit about the school contracts and Brad can probably talk a little bit about the pricing. But at the end of — and I was looking at this yesterday, at the end of 2019, we had less than 30 school customers and only 3 were over $300,000 a year. Today, we have well over 60 school customers and we have well over 15 that are over $300,000 a year. So when you look at the growth curve of total clients and what we call the larger clients, ones that are over $300,000 a year or more, that’s where we’re focused. And we can absolutely see that kind of growth curve continue in terms of the number of schools and the number of schools that we have over $300,000 and over $1 million. There aren’t that many 5 million-plus schools out there, but there are of — there are hundreds more schools that are $300,000 or more and quite a few that are potentially over $1 million.
