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Highlights:
- The benchmark S&P/ASX 200 index opened on a negative note today (October 7) along with 10 other significant sectors under it.
- The Energy sector was leading the gains on ASX on Friday morning, while A-REIT was the worst-performing sector during the same time.
- Information Technology sector was 0.832% lower on ASX at 10:51 AM AEDT today (7 October 2022).
The benchmark S&P/ASX 200 index (INDEXASX:XJO) opened lower on Friday (7 )ctober 2022). Under the index, ten significant sectors out of eleven, were also lower. Of all the significant sectors under S&P/ASX 200 index, the Energy sector was in green, while the A-REIT was the worst performer as of 10:50 AM AEDT today (7 October 2022).
Meanwhile, the S&P/ASX 200 Information Technology sector (INDEXASX:XIJ) was quoted 0.832% lower at 1465.4 points at 10:51 AM AEDT today.
This article primarily talks about the performance of some ASX-listed information technology stocks such as WiseTech Global Limited (ASX:WTC), Computershare Limited (ASX:CPU), Xero Limited (ASX:XRO), IRESS Limited (ASX:IRE), and Link Administration Holdings Limited (ASX:LNK).
WiseTech Global Limited (ASX:WTC)
Logistics solution provider WiseTech Global Limited (ASX:WTC) shares began Friday’s trading session on a negative note as it shares were quoted 0.864% lower at AU$57.320 per share at 10:18 AM AEDT today.
Over the last one year, WiseTech’s share price has marked a gain of over 9% on ASX. On year-to-date basis, the share price has fallen 4.44% on ASX (as of 10:18 AM AEDT today).
WiseTech is a tech-enabled logistics service provider which is listed under the Information Technology sector on ASX. The company was founded in 1994 by Richard White and Maree Isaacs and was listed on ASX in the year 2016. When WiseTech was founded, it was only involved in the business of writing codes for Australian freight forwarders.
At present, the company is focused on transforming the global supply chains by replacing age-old systems with innovative and automated software solutions.
In 2021, WiseTech made its place in the list of top 50 ASX-listed companies.
Image source: © Komkrittor | Megapixl.com
Computershare Limited (ASX:CPU)
Australian computer bureau operator Computershare Limited (ASX:CPU) shares were spotted trading 0.155% lower at AU$25.680 per share at 10:21 AM AEDT today.
During the last one year, Computershare’s share price has gained almost by 43% on ASX and on a YTD basis, the company’s share price gained by around 26% on ASX (as of 10:21 AM AEDT today).
Computershare is a company listed in the Information Technology sector on ASX that operates a computer bureau. The company also offers share registry provisions in financial and stock markets. The company was established in 1978, and it is one of the first start-ups in Melbourne.
Initially, Computershare was involved with offering automation services to businesses. However, eventually, the company shifted its focus towards offering specialised computer bureau services to Australian share registrars that can be done quickly and efficiently.
Xero Limited (ASX:XRO)
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Accounting software developer Xero Limited (ASX:XRO) opened trading in the red territory on ASX on Friday morning. Xero’s share price fell marginally by 0.642% to AU$78.84 per share at 10:24 AM AEDT today.
In the last 12 months, Xero’s share price has marked a loss of around 43% on ASX. On a year-to-date basis, Xero’s share price has declined by almost 46% on ASX (as of 10:24 AM AEDT today).
Xero is a cloud-based accounting software developer based in New Zealand. The company primarily serves small and medium-sized businesses across the globe. Xero uses the latest technology to automate the entire accounting process in a business so that it can be performed quickly and with precision.
Xero develops accounting software based on the model of Software-as-a-service (SaaS). Currently, Xero is selling its accounting software on a subscription basis.
About three million businesses have subscribed to Xero’s software across 180 countries at this moment. Other than New Zealand, Xero also operates in Australia, the United States, the United Kingdom, Canada, Singapore, Hong Kong and South Africa.
IRESS Limited (ASX:IRE)
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Global fintech firm IRESS Limited (ASX:IRE) shares were spotted trading at AU$9.540 per share as of 10:27 AM AEDT today.
In the last one year, IRESS’ share price has declined by almost 15% on ASX and on a YTD basis, the company’s share price fell by around 27% on ASX (as of 10:27 AM AEDT today).
IRESS is an Australian fintech company which offers both information technology and management services to the financial industry. IRESS is known for offering innovative technology solutions for trading in the financial market, order management, and compliance, along with portfolio and wealth management.
The company owns and operates its business globally under two significant divisions, including Financial Markets in the Asia Pacific and Wealth Management in Australia, New Zealand, the United Kingdom, South Africa, and Canada.
Link Administration Holdings Limited (ASX:LNK)
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Shares of Link Administration Holdings Limited (ASX:LNK) opened trading in the red zone on ASX on Friday morning (7 October 2022). Link’s share price fell by 2.140% to AU$3.200 per share as of 10:06 AM AEDT today.
Over the last one year, Link’s share price has declined by almost 25% on ASX, and on a YTD basis, the company’s share price fell almost by 45% (as of 10:06 AM AEDT today).
Link is an IT firm in Australia which is known for offering customised tech-enabled solutions to meet the unique demands of its clients.
The company offers a wide range of services to its clients, such as technology-enabled fund administration solutions for superannuation, corporate market services, innovative digital solution, and data analytics. It also offers asset services to companies, trustees, and large asset owners.
