These fast-growing tech shares are on my shopping list

I think there are a large number of tech shares trading on the Australian share market that could be great long term buy and hold investments.

Three that tick a lot of boxes for me right now are listed below. Here’s why they are on my shopping list:

Altium Limited (ASX: ALU)

I think this electronic design software company is one of the best buy and hold options in the tech sector. Altium is targeting 100,000 active subscribers of its Altium Designer product by 2025. Not only would this lead to a significant jump in revenues, management believes it would compel key stakeholders within the manufacturing and supply chain industry to support its agenda to transform electronic design and its realisation. This would arguably put it in an even stronger position in this fast-growing industry.

Aristocrat Leisure Limited (ASX: ALL)

This leading gaming technology company is one of my favourite growth shares on the ASX. So far this year its pokie machine business has been commanding a growing share of the global market due to the popularity of its products with both casinos and gamblers. The good news is that this solid performance has been underpinned by the impressive growth of its digital business. This business has seen its daily active users surge higher, leading to significant recurring revenues being generated. At present its shares are changing hands at just 20x estimated FY 2019 earnings, which I think is great value given its current growth profile.

Bravura Solutions Ltd (ASX: BVS)

Another top option for investors could be this provider of software solutions for the wealth management, life insurance, and funds administration industries. The main attraction to the company for me is its popular Sonata product. In FY 2018 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. Pleasingly, management believes it still has a significant runway for growth due to many organisations in these markets still running multiple legacy or competitor systems.

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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 Altium and Bravura Solutions 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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