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Here are 3 of my favourite growth shares on the S&P/ASX 200

I believe the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is home to a number of high quality growth shares.

But with so many to choose from it can no doubt be hard for investors to decide which to invest their hard earned money into.

To help narrow it down I thought I would pick out three of my favourite growth shares on the benchmark index. They are as follows:

Although the Altium Limited (ASX: ALU) share price has risen 26% in the last 12 months, I believe its strong growth prospects still make it a great option for investors today. I see Altium and its printed circuit board (PCB) design software as being a big winner from the incredible rise in connected devices. According to research firm Gartner, there will be 20.8 billion connected devices in use worldwide by 2020, up from an estimated 6.4 billion last year. As PCBs are required in the majority of these connected devices, I expect demand for its software will continue to rise strongly.

The Corporate Travel Management Ltd (ASX: CTD) share price has also been a big mover, climbing 41% in the last 12 months. This huge gain will come as no surprise to many investors. Thanks to successful acquisitions and further market share gains, the corporate travel specialist recently advised that it is trading at the top end of its full-year underlying EBITDA guidance range at $97 million. This equates to a year-on-year increase of 40.6%. Whilst its days of a bargain buy may be long gone, even at 34x estimated FY 2017 earnings I see significant value for patient buy and hold investors.

Unlike the others, the Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price has underperformed the market during the last 12 months. Allegations of the underpayment and mistreatment of employees by franchisees has weighed heavily on its shares in recent months. Whilst these allegations are a concern, I believe the sell-off that ensued was largely overdone and has left its shares trading at an attractive level. With management expecting net profit after tax growth of at least 32.5% in FY 2017, this is a growth share that I would want in my portfolio.

Still want more growth shares? Don't miss out on these high quality ones as well.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium and Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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