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.
