3 ASX technology shares crushing the ASX 200 in 2016

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is again trading sharply lower today. And following a turbulent start to the year the market is down a hefty 7% in 2016, so far.

However, active investors (i.e. those who choose which shares to buy and sell) with interests in some ASX technology businesses, could have thumped the market. Here are three ASX technology shares that have easily outperformed the S&P/ASX 200.

  1. Bulletproof Group Ltd (ASX: BPF)

Bulletproof is a cloud computing services business. The small-cap company specialises in taking a company’s standalone technology applications to the cloud. It has enjoyed a share price increase of 16% since the beginning of the year and is up 100% year over year.

  1. Altium Limited (ASX: ALU)

Altium is a mid-cap software business that enables designers to create the printed circuit boards (PCBs). The market for PCBs is expected to grow strongly in coming years as more devices become interconnected or ‘smart’. Altium shares have risen 16% in 2016 and 80% year over year.

  1. Carsales.Com Ltd (ASX: CAR)

Carsales.Com is a name synonymous with new and used vehicle sales in Australia. For many years, the $2.8 billion company has enjoyed a tailwind provided by consumers’ increasing prosperity to use internet marketplaces over traditional print classifieds. Carsales.Com share price has traded mostly flat since the beginning of the year (implying a market outperformance of 7%) and has climbed 12% higher over the last 12 months.

Foolish Takeaway

Many disruptive ASX-listed technology shares, particularly those with global exposure, will continue to grow earnings in spite of a slowing economy. Together with a few select industries, like healthcare and biotechnology, I think investors should be actively monitoring their share portfolio’s industry exposure, ensuring it is not overexposed to sluggish industries like banking and materials/resources.

A better buy than Carsales.Com is here

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Motley Fool writer/analyst Owen Raszkiewicz owns shares of Bulletproof and has a financial interest in Carsales.Com. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia owns shares of Altium. 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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