2 ASX tech shares in the All Ords that soared today

These two ASX tech shares performed well today. We take a look at why.

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Key points

  • These two ASX tech shares closed higher on Monday
  • The shares soared by almost 15% and more than 6% respectively 
  • ASX technology shares followed their US counterparts in rising today 

The All Ordinaries Index (ASX: XAO) closed almost 2% higher today, but two ASX tech shares outperformed the index.

The All Ords Index climbed 1.94% today to 6,893.6 points. For perspective, the S&P/ASX 200 Index (ASX: XJO) also finished 1.94% in the green.

So let's take a look at which technology companies surged today.

Fineos Corporation Holdings (ASX: FCL)

The Fineos Corporation Holdings share price climbed 14.56% today. Fineos provides software for the life, health, and accident insurance industry. The company's shares appeared to be soaring amid a positive day for ASX technology shares. The S&P/ASX All Technology Index (ASX: XTX) closed 2.62% higher today.

ASX technology shares followed in the footsteps of their US counterparts. The NASDAQ-100 Technology Sector index surged 4.63% on US markets on Friday. On Sunday, US President Joe Biden unveiled a $600 billion infrastructure program. It's aimed at building health systems, energy technology, and information and communication technology networks, CNBC reported.

Fineos reported a 24.4% boost in revenue in the first half of the financial year while gross profit soared 25.6%.

Pointerra Ltd (ASX: 3DP)

Pointerra shares closed 6.38% higher on Monday. The company also appeared to benefit from positive market sentiment for ASX tech shares. In recent news to the market, Pointerra announced two new contracts based in the United States.

Florida Power and Light will deploy the Pointerra3D Answers storm response product. Secondly, NextEra Energy will use Pointerra3D Analytics to support greenfield development and solar energy project sites in the USA. Pointerra reported "continued growth" across the US energy utilities sector.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pointerra Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended FINEOS Corporation Holdings plc. The Motley Fool Australia has recommended FINEOS Corporation Holdings plc and Pointerra Limited. 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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