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Here are 3 fast-growing tech shares that just got a whole lot cheaper

In the last six months the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has provided investors with a solid gain of just over 6% thanks largely to a rally in the financial and resources sectors.

Both sectors have put on gains in the low teens during this time, a stark contrast to the information technology and telecommunications sectors. These two sectors trail the market with declines of 1% and 13% respectively.

But the good news for investors is that these declines have led to a number of shares becoming a whole lot cheaper. Three shares which stand out to me are as follows:

The Altium Limited (ASX: ALU) share price has fallen around 21% in the last six months. A reasonable portion of this decline has come in the last couple of weeks following the release of the software-as-a-service company’s half-year result. I think the post-earnings sell-off was an overreaction and believe that investors have been gifted an opportunity to buy its shares at a great price. Management expects the company to hit US$100 million of revenue this year, before doubling it to US$200 million by FY 2020.

The Hansen Technologies Limited (ASX: HSN) share price is down by almost a third in the last six months. Much like Altium, the majority of these declines came following the release of its half-year results last month. Although I think the billing services provider is a high-quality company, I think it is fair to say that its shares were a little on the expensive side, until recently. But now they are changing hands at around 22x trailing earnings I believe they are priced reasonably fairly for a buy and hold investment.

The TPG Telecom Ltd (ASX: TPM) share price has fallen a whopping 48% in the last six months. Concerns over narrower-than-expected NBN margins spooked the market last year, leading to the almighty sell-off. But with the company rolling out its own fibre network in certain CBD areas and expanding its mobile phone presence, I believe TPG Telecom has the potential to grow its earnings at an above-average rate for the foreseeable future. So at just 16x trailing earnings I believe its shares could prove to be a bargain buy.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium and Hansen Technologies. 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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