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Highlights
The Australian share market faced several challenges in the financial year 2022. The domestic stock market faced several challenges in the form of interest rate hikes, rising inflation, geopolitical tensions, and looming recession.
The ASX All Ordinaries (ASX:XAO), the oldest share index in Australia, shed nearly 11.05% of its value in FY22. Similarly, the ASX All Technology Index (ASX:XTX) fell around 35% during the period under review. Still, there were many tech shares which managed to end on a strong note despite overall weakness in the tech sector. These shares outperformed both the All Ordinaries and the All-Tech index.
On this note, let’s look at the three top performing ASX All Ordinaries tech shares in FY22.
Reckon Ltd (ASX:RKN)
Reckon is an accounting software firm. The ASX-listed tech firm ended FY22 with a gain of 25.65% after it ended the fiscal at AU$1.20. It began the year with a share price of AU$95.5 cents per share. The major reason behind the sharp rise in the share price of Reckon was the announcement made in May that the company would sell its Accountants Practice Management Group division.
Reckon had announced selling the division to Access Group for AU$100 million and returning the proceeds emanating from the sale to its shareholders. The announcement had boosted the tech firm’s share price by 50% at that point in time.
Computershare Ltd (ASX:CPU)
The ASX-listed stock transfer company’s shares reported a gain of 45.8% in the financial year 2022. Shares of the tech company surged to AU$24.64 after starting the year at AU$16.90.
The shares appear to have risen in FY22 mainly on account of the tech company’s established business model and a perceived ability to take care of surging consumer prices.
Brainchip Holdings Ltd (ASX:BRN)
Brainchip is an ASX-listed artificial intelligence company. The share price of Brainchip witnessed volatility in FY22 as it surged as high as AU$2.34 and slipped as low as AU$0.36. But the shares finally closed FY22 with a gain of 63.27%. The company’s shares had begun July 2021 at AU$0.49 and closed at AU$0.80 on 30 June 2022.
Envirosuite Ltd (ASX:EVS)
Envirosuite offers environmental management solutions to its clients. The share price of Envirosuite ended FY22 with a gain of 72.22% at 15.5 cents per share. The share price was just 9 cents per share at the start of the fiscal.
The share price received a major boost from the strategic partnership with the global firm, Aeroqual, and tie-up with the American space agency, NASA.
