Four ASX tech stocks with over 10% gain in a month

Highlights:

• The ASX 200 Information Technology index has gained 2.29% in a month and lost 38.57% in a year.
• The S&P/ASX 200 index has surged by 7.07% in a month and lost 4.48% in one year.
• Today (15 November 2022), six out of the eleven  significant sectors are trading in red.

Australian technology stocks have traded weak lately.The Information Technology index, ASX 200 Information Technology (INDEXASX:XIJ), has recorded a drop of 38.57% in a year and a rise of 2.29% in the past month (as of 10:47 AM AEDT).

Meanwhile, the Australian stock market index, the S&P/ASX 200, has lost 4.48% in a year and gained 7.07% in one month.

In this backdrop, let’s discuss four ASX tech stocks that have registered a gain of over 10% in the past month. The stocks discussed in this piece are Pushpay Holdings Limited, NOVONIX Limited, Objective Corporation Limited, and Hansen Technologies Limited.   

At 10:47 AM AEDT, the ASX 200 was down 0.15% to 7,135.80 points and XIJ was down 0.13% to 1,429,10 points. Six out of the eleven sectors were in red along with the ASX 200 index.

Pushpay Holdings Limited (ASX:PPH)

Pushpay offers a donor management system, church management system, and video streaming solutions to non-profit organisations, education providers, and the faith sector.

On 9 November 2022, the company released its interim results 2023 via an ASX filing. During the stated period, the company reported a 10% surge in operating revenue, 10% fall in underlying EBITDA, 54% decline in net profit after tax, and 47% fall in operating cash flow. During the period, total customers grew by 4% and total processing volume by 2%.

Pushpay informed the market that FY23 is a year of investment as the company intends to set the foundation for future growth. During the first half of FY23, the company completed the majority of the go-to-market strategy reset, which includes the addition of new customers, recruitment of a new sales and marketing team, and building the company’s Catholic offering. 

At 10:35 AM AEDT, Pushpay’s shares were spotted trading 0.43% higher at AU$1.17 per share. With this, in a month, the share price has surged by 11.43%.

NOVONIX Limited (ASX:NVX)

Image source: © Timonschneider | Megapixl.com

NOVONIX is a battery materials and technology group working towards enabling an electrified future for grid energy storage and electric vehicles.

In its quarterly activity report, the company shared that during the July-September quarter, it was selected as the recipient of US$150 million in Department of Energy grant funding. As per the report, the grant funds will be used for the construction of a 30,000 tonnes per annum US manufacturing facility. This includes the engineering design, plant layout, and site selection.

At 10:40 AM AEDT, NOVONIX’s shares were spotted trading 2.96% down at AU$2.62 per share. In a month, the share price has zoomed up by 46.93%.

Objective Corporation Limited (ASX:OCL)

Objective Corporation specialises in enterprise content management. The company deals with web content management, workflow, record keeping, and document management technologies.

In FY22, the company delivered a 12% surge in group revenue, 20% growth in EBITDA, and 31% rise in net profit after tax. Tony Walls, the CEO of the company, said in a statement that the company has sailed past the AU$100 million revenue mark for the first time. During the year, the company invested AU$25 million in research and development (R&D), which represents 24% of the revenue. The investment in R&D brought new products to the market.

Group operating cash flow increased by 24% over the previous year, and the total cash balance surged by 32%.

During FY22, the company’s board determined to pay a dividend of 11.0 cents per share.

At 10:25 AM AEDT, Objective Corporation’s shares were spotted trading 0.39% higher at AU$15.61 per share. With this, in one month, the share price has increased by 15.63%.

Hansen Technologies Limited (ASX:HSN)

Hansen develops, integrates, and supports billing system software for the utilities and telecommunications industries.

In FY22, the company distributed a record full-year dividend. As reported in an ASX filing, the company’s board declared a final dividend of 5.0 cents per share. The dividend was fully franked, with a payment date of 21 September 2022. With this, the full-year dividend reached 12.0 cents per share.

The company delivered a 3.4% rise in operating revenue, 1.1% growth in underlying EBITDA, 7.4% rise in underlying NPAT, and 6.2% increase in underlying NPATA. During the full year, the net debt fell by 56.7%.

At 10:21 AM AEDT, Hansen’s shares were spotted trading 0.20% higher, at AU$5.05 per share. In a month, the share price has increased by 11.04%.