I think that one of the most promising areas of the market to invest in at the moment is the tech sector.
In this area there are a good number of companies with the potential to grow strongly over the next decade. This could see them generate outsized returns for shareholders in the future.
Three mid cap ASX tech shares that I think are worth considering are listed below. Here’s why I like them:
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is an enterprise mobility software provider which could have a bright future ahead of it. The company’s software allows sales and service organisations to increase their sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity. It has a good number of blue chip clients using its platform including U.S. telco giant AT&T, biotechnology company Thermo Fisher, pharmaceutical company Merck, and big four bank Australia and New Zealand Banking Group (ASX: ANZ). I see this as a testament to the quality of its software.
Bravura Solutions Ltd (ASX: BVS)
Another option to consider is this leading provider of software products and services to the wealth management and funds administration industries. I think Bravura Solutions could be a great option for long-term focused investors. This is due to its strong growth potential thanks to its Sonata wealth management platform and the recent acquisitions of FinoComp and Midwinter. The latter is expected to give it a new avenue for growth in an industry benefiting from structural tailwinds.
Nearmap Ltd (ASX: NEA)
This aerial imagery technology and location data company is another tech company that I would consider buying. Due to the quality of its offering, new product releases, and its massive addressable market in the United States, I remain confident it will be a strong performer over the next decade. The company also has the option of expanding into new territories in the future to increase its total addressable market.
Where to invest $1,000 right now
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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
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Nearmap Ltd. The Motley Fool Australia has recommended BIGTINCAN FPO. 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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