Thankfully for investors there are a good number of quality growth shares on the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) to invest in.
But if I were to dip my toe into the market today, there are two growth shares in particular that would be at the top of my list. Both companies are leaders in their field, have strong growth prospects, healthy balance sheets, and excellent management teams.
But perhaps best of all is the fact that their shares are reasonably priced in comparison to other growth shares on the ASX. They are as follows:
Appen Ltd (ASX: APX)
Appen is a leading provider of high-quality language data and services to major technology companies, automakers, and government agencies. In an age where tech companies pile on debt and run at a loss, it is a refreshing change to find that Appen has no debt, ample cash reserves, and very profitable operations. In its half-year results in August the company reported an 87% increase in net profit after tax. With its shares changing hands at 26x estimated FY 2017's earnings, I believe now would be a great time to invest with a long-term view.
iSentia Group Ltd (ASX: ISD)
Media intelligence company iSentia is another tech company which I believe would be a great buy and hold investment. Earlier this year there were concerns that the expected growth in the Asia market was not materialising, but its full year results quashed those fears. A strong performance in the segment helped drive full year net profit after tax 23.6% higher to $24.3 million. Management expects more of the same next year, which should help it deliver on its target of producing strong earnings per share growth through to at least 2020. Its shares are changing hands at just 17x forecast FY 2017's earnings, which is marginally higher than the market average. Considering its strong growth prospects I see this as a bit of a bargain.
