Pro Medicus Limited (ASX: PME) shares, Class Ltd (ASX: CL1) shares, Gentrack Group Ltd (ASX: GTK) shares and XERO FPO NZX (ASX: XRO) shares are at the top of my watchlist.
Here's a quick bio on each tech company.
Pro Medicus
Based in Richmond, just outside Melbourne's CBD, Pro Medicus is a small-cap business that has been taking on the world. The $530 million company has developed a smartphone and server technology that enables doctors and radiologists to send and receive medical images (think: x-rays) in seconds.
These files are enormous (think: a day's worth of Netflix), yet the images can be inspected and the patients diagnosed in seconds. In recent years, Pro Medicus has achieved respectable contract wins from renowned hospitals throughout the world. That's one reason the Pro Medicus share price is up 1,900% in five years!
Class
Class is an even smaller company, with a market capitalisation of $360 million. Class has built software used by accountants, financial advisers and other professionals managing self-managed superannuation funds (SMSFs) and investment portfolios.
Found in the cloud, Class's software has accounted for much of the industry's growth. Unsurprisingly, its share price is up 116% since it listed in 2015. But with more SMSFs starting each year, it could have a long runway ahead.
Gentrack
This Kiwi company has also found success in international markets. Gentrack develops software used by water and energy utilities and airports. The company's software is deeply embedded in its client's systems, making it difficult for them to forgo. Ultimately, Gentrack generates a healthy stream of recurring revenue.
The company recently pushed further into the UK market by making two acquisitions. The Gentrack share price is up 78% in a year.
Xero
I wrote about Xero earlier today, but I could not mention my four favourite ASX tech shares and not bring it up. Once again, Xero is a Kiwi company taking on the world. And, like Gentrack, it is expanding into the UK.
Xero has created an accountant cult following, having developed a great suite of accounting software which is also used by bookkeepers and directly by its small business customers. Its total subscriber base has grown by 500,000 to 1.035 million in the past two years.
