A new month is upon us, so what better time to take a look at your portfolio to see if there are any additions that could take it to the next level.
If you're interested in adding a growth share or two, then I think the ones listed below would be great options. Here's why I like them:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a fintech company that provides software products and services to the wealth management and funds administration industries across a number of regions. Once again it was a strong performer in the first half of FY 2020, delivering a 21% increase in net profit after tax to $19.8 million. This strong performance was boosted by recent acquisitions of the Midwinter and FinoComp business but driven largely by the core Sonata wealth management platform.
Sonata is a next generation wealth management administration system which allows users to connect and engage with their clients anytime, anywhere, via computers, tablets or smartphones. Demand has been strong for the platform in recent years and I expect more of the same in the future thanks to its quality and sizeable addressable market. Though, it is worth noting that the coronavirus pandemic is likely to weigh on its performance in the near term. However, this appears to have been reflected in its share price after a sharp pullback.
Pushpay Holdings Group Ltd (ASX: PPH)
Another growth share to consider buying in May is Pushpay. It is a fast-growing donor management platform provider for the faith, not-for-profit, and education sectors. Pushpay's innovative solutions simplify engagement, payments, and administration, allowing users to increase participation and build stronger relationships with their communities.
At a time when many companies are struggling with the coronavirus pandemic, Pushpay has remained a very strong performer. Management recently revealed that demand for its platform has been strong despite the coronavirus-related closures of churches in North America and the ANZ region. In fact, it notes that it is seeing a clear shift to digital, with customers utilising its mobile-first technology solutions to communicate with their congregations. I believe this bodes well for its future growth and expect further market share gains and strong revenue growth in the coming years.
