A sneak peek at some ASX tech stocks

Highlights:

• The ASX 200 is in the red on Thursday (10 November 2022).
• In the past five years, the information technology index has gained 43.69%.
• Eight out of eleven significant sectors are in the red today.

The Australian Information Technology sector has outperformed the broader stock market index in the past five years’ performance. The ASX 200 Information Technology index (INDEXASX:XIJ) has gained 43.69% in five years, whereas the ASX 200 (INDEXASX:XJO) has grown by 15.51% (as of 11:08 AM AEDT).

The NASDAQ-100 Technology sector (INDEXNASDAQ:NDXT) has increased by 37.56% in the past five years.

However, this year, the Information Technology index has lost 36.47%.

Meanwhile, on Thursday (9 November 2022), the XIJ was 1.56% down at 1,387.00 points, and the ASX 200 was 0.49% lower at 6,964.70 points at 11:09 AM AEDT.

Around the same time, eight out of eleven significant sectors were trading in the red. The Utilities sector registered the highest gain of 11.94%, and the materials sector recorded the highest fall of 1.54%.

In line with this, this article discusses a few ASX-listed technology stocks and their performance, WiseTech Global Limited, Computershare Limited, Xero Limited, and Altium Limited.

WiseTech Global Limited (ASX:WTC)

Image source: © Rafaelhenriquepress | Megapixl.com

WiseTech offers software solutions to the supply chain industry worldwide. The company assists its customers in optimising their supply chain across borders.

WiseTech manages multiple businesses, like CargoWise. CargoWise is a single-platform solution with deep integration interfaces, real-time data visibility, and comprehensive compliance.

The solutions offered are Global Trade Management and Compliance, CargoWise Enterprise, International Forwarding, International Ecommerce, Transport, Warehouse, Parcel, Optimisation, Rates and Contracts, Carrier, and Global Data.

Other businesses are ABM Data Systems, ACO Informatica, Bysoft, CargoIT, CuustomsMatters, data Freight, EasyLog, EXA-System, Fenix, Forward, Intris, LSP Solutions, Prolink, Ready Korea, SISA Studio Informatica SA, Softcargo, Systema AS, Taric, Ulukom, and znet Group.

Today, WiseTech’s shares were spotted trading 1.75% lower at AU$52.63 apiece at 10:57 AM AEDT. On Wednesday, the share closed 2.39% lower at AU$53.57 apiece, in line with its benchmark index. The share price has dropped by 3.29% in a year, and on a YTD basis, it has tumbled by 10.51%. The stock has zoomed up by 356.69% in the past five years.

Computershare Limited (ASX:CPU)

Computershare has progressed from the provider of computer bureau services to share registrars. The company has developed its share registry business by expanding into stakeholder communications, employee equity plans, fund services, corporate governance, deposit protection, class action administration, and mortgage services.

At 10:57 AM AEDT, Computershare’s share were spotted trading 5.08% higher at AU$27.34 apiece. On 9 November 2022, the share closed 0.54% higher at AU$26.00 per share. With this, in one year, the share price has increased by 35.42%, and on a YTD basis, it has gained 27.70%. The share price has increased by 8.47% in the last six months and by 1.72% in a month.

Xero Limited (ASX:XRO)

Image source: © Mohammedsoliman4 | Megapixl.com

Xero provides accounting software solutions to small businesses. According to the company’s website, the software solutions help connect businesses with banks, help them collaborate on a real-time basis, and offer everything in one place. In addition to this, clients can customise the software as per their requirements.

The features offered by Xero’s software are bank connections, bill payments, claim expenses, payment acceptance, project tracking, bank reconciliation, pay runs, managing Xero contacts, file storage, data capture, inventory management, accounting report creation, invoice sending, purchase orders, sales tax calculation, professional quote creation, accounting dashboard management, and fixed asset management.

For accountants and bookkeepers, the company offers XeroHQ, Xero Cashbook, Xero Practice Manager, Xero Workpapers, and so on.

At 10:59 AM AEDT, Xero’s shares were spotted trading 11.07% down at AU$64.58 per share. On Wednesday, the shares closed 0.57% higher at AU$72.62 apiece. In the last 12 months, Xero shares have lost 50.69%, and on a YTD basis, they have decreased by 50.34%. The Xero share price has dropped by 17.34% in the past six months, and it has zoomed up by 149.47% in the last five years.

Altium Limited (ASX:ALU)

Altium develops computer software for designing electronic products. Altium covers a range of industries, like automotive, consumer electronics, aerospace, and medical devices.

Altium Designer SE (System Engineering), Altium Designer, and Altium 365 are some of the products/tools offered by the company.

Today, Altium shares were spotted trading 1.45% lower at AU$33.25 per share at 10:59 AM AEDT. On 9 November 2022, the share price of Altium closed 1.60% lower at AU$33.74 per share. With this, in one year, the share price has dropped by 15.25%, and on a YTD basis, it has decreased by 24.42%. The share price has increased by 12.96% in the past six months, and in one month, it has declined by 5.36%.