Ann: FY2018 Trading Update, page-7

While I'd agree that share price ran well ahead of business fundamentals, it should also be pointed out that those valuations you state above are best put into context. This is a company that expenses all R&D, unlike many software companies, so relative valuation techniques can be limiting in their use. Some portion of OCL's capex on product development could very legitamately be capitalised. Relative valuations also don't consider the Balance Sheet strength on OCL, about 23 cents of net cash on hand per share.
I prefer to focus on the cashflow generation of the business, which typically exceeds earnings each year.
A victim of its own success in the last couple of years, following a 55% jump in EPS in FY17, it probably isn't surprising to see an unflattering year from OCL. While disappointing in FY18, its comforting to hear management taking responsibility and planning for a resumption of growth in future periods.