3 mid cap tech shares that could be great buy and hold investments

In the mid cap part of the share market I think there are some tech options that could prove to be great buy and hold investments.

Three mid cap tech shares I would look at next week are listed below. Here’s why I like them:

Bravura Solutions Ltd (ASX: BVS)

Bravura Solutions is a fast-growing provider of software solutions for the wealth management, life insurance, and funds administration industries. In FY 2018 the company continued its positive form and achieved revenue growth of 15% to $221.5 million and underlying NPAT growth of 27% to $27 million. A key catalyst for this growth was the performance of its Sonata wealth management platform. Sonata revenue increased 32% to $122.5 million thanks to client wins in all its key markets, which comprise the UK, Australia, New Zealand, and South Africa. As many organisations in these markets are still running multiple legacy or competitor systems, management believes it has a significant runway for growth and I agree. Ltd (ASX: KGN)

This ecommerce company’s shares sank lower again on Friday, meaning they have now lost over half of their value since peaking at $10.00 earlier this year. Investors appear concerned that its performance may be slipping and have been heading to the exits in their droves since the release of its full year results. I can’t help but feel that this selloff has been overdone now and left its shares at an attractive level for a buy and hold investment. However, with its AGM coming up next month, investors may want to consider waiting for a trading update.

Megaport Ltd (ASX: MP1)

Megaport is a fast-growing tech company which provides elasticity connectivity and network services across a growing number of data centres. In FY 2018 it grew revenue by 85% to $19.8 million. Pleasingly, management believes that new cloud and data centre partnerships has positioned the company to capitalise on market opportunities for FY 2019. And with the cloud computing market tipped to grow at an explosive rate over the next decade, I think Megaport has enormous potential. Though it is worth noting that it is a reasonably high risk investment option.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Bravura Solutions Ltd. The Motley Fool Australia has recommended ltd. 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 Scott Phillips.

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