Some of the businesses that have grown revenue the quickest over recent years have been technology businesses.
Notably, quite a few of these companies have posted fairly significant share price declines in recent months and I think now is the perfect time to buy these great technology shares whilst they are cheap:
Class Ltd (ASX: CL1)
Class provides software for self-managed superannuation fund (SMSF) administrators. Class' offering is a cloud accounting system that helps people do an SMSF's books more efficiently.
Accountants love Class' system, as seen by its 99% retention rate. More SMSFs are changing to the cloud every year and this can only benefit Class because it's the market leader for cloud SMSF accounting.
Class shares are down 6% over the last month and down 30% since September 2016. Class is trading at 55x FY16's underlying earnings per share (excluding IPO expenses) with a grossed-up dividend yield of 1.98%.
Altium Limited (ASX: ALU)
Altium is one of the largest electronic PCB software providers in the world. It has a number of exciting products, including the large potential of a joint system with Dassault Systèmes. It has a lot of large customers, which include BMW, Toyota, NASA, John Deere and Cochlear Limited (ASX: COH).
This could be a good time to buy Altium shares because it's predicting revenue to double over the next three or so years. Its shares are down by 10% over the last month and 24% since September 2016.
Altium shares are currently trading at 27x FY17's estimated earnings with an unfranked dividend yield of 2.8%.
Freelancer Ltd (ASX: FLN)
Freelancer is the owner and operator of one of the largest freelancer portals in the world. It links people offering projects with potential freelancers.
Every year sees a large increase in revenue and the number of projects completed on Freelancer's site. In its half-year report to 31 December 2016 it grew revenue by 37% and gross profit by 36%. It reported that it has 23.3 million registered users, which was a rise of 23%.
The Freelancer share price is down by 48% since July 2016. Freelancer isn't yet making a profit after tax or paying a dividend.
Foolish takeaway
At the current prices I think all three businesses are worth considering. Altium is my favourite of the three, but Freelancer may be trading at the best value. If technology stocks aren't your thing, then these three fast-growing stocks could be exactly what you're looking for.
