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Highlights
- The shares of ASX-listed technology stocks Xero Limited, WiseTech Global Limited, and Computershare Ltd. remained on investors’ radar today.
- The S&P/ASX 200 Information Technology (Sector) XIJ was up 0.990% at 1295.100 points at 3:06 PM AEST.
Technology stocks have come under valuation pressure since the beginning of this year. Almost all the sectors have borne the brunt of the rising interest rates and it would not be wrong to say that technology companies are the worst sufferers of the increase in interest rates.
Many big tech companies have lowered their profit/earnings forecast due to the rate hikes. Rising rates create a generally bearish climate for tech stock valuations. The tech-heavy Nasdaq Composite has fallen almost 31.80% this year.
After falling consecutively for seven straight days, the Australian share market opened higher today and the ASX 200 was up 1.411% at 6524.200 points at 3:00 PM AEST. Eight of 11 sectors traded higher today. Energy was the best performing sector and other sectors, including Financial, Consumer staples, materials and others, also led the gains on the broader index. The S&P/ASX 200 Information Technology (Sector) XIJ was up 0.990% at 1295.100 points at 3:06 PM AEST. Today, the Reserve Bank of Australia (RBA) has signalled that there can be a further hike in the interest rate in the upcoming months to bring inflation to the target range.
In this article, we will look at three ASX-listed technology stocks which have grabbed attention today. These tech stocks include Xero Limited (ASX:XRO), WiseTech Global Limited (ASX:WTC), and Computershare Ltd (ASX:CPU).
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Image Source: © Chuahtc8 | Megapixl.com
Xero Limited (ASX:XRO)
The shares of ASX-listed technology company Xero Limited traded 0.079% higher at AU$75.780 per share on ASX at 3:18 PM AEST. The company has a market capitalisation of AU$11.32 billion. In the last one year, Xero Limited shares have fallen nearly 46.24%, while the stock is down almost 48.17% year-to-date (YTD).
WiseTech Global Limited (ASX:WTC)
WiseTech Global Limited shares traded 1.357% lower at AU$35.600 per share on ASX at 3:16 PM AEST today. The company has a market capitalisation of AU$11.77 billion. In the last one year, the share price of WiseTech Global Limited has gained approximately 11.08%, while the stock is down nearly 40.53% YTD.
Computershare Ltd (ASX:CPU)
The share price of Computershare Ltd was spotted trading 1.791% higher at AU$23.870 per share on ASX at 3:46 PM AEST. The company has a market capitalisation of AU$14.15 billion. In the last one year, Computershare Ltd shares have gained nearly 41.41%, while the stock is up almost 17.24% YTD.
