WTC, CPU, SQ2, LNK, CDA: ASX Tech shares under investors’ radar today

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WTC, CPU, SQ2, LNK, CDA: ASX Tech shares under investors’ radar today

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 WTC, CPU, SQ2, LNK, CDA: ASX Tech shares under investors’ radar today
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Highlights: 

  • The S&P/ASX 200 index ended 1.12% higher today, with the ASX 200 Information Technology sector too ending strong. 
  • The upbeat performance of tech stocks on Wall Street likely have taken up the ASX tech stocks higher on Thursday. 
  • This article features five leading ASX-listed tech stocks and their performance on the ASX today.  

Today, almost all the sectors, barring just the Utilities, under the S&P/ASX 200 index ended strong, including the S&P/ASX 200 Information Technology sector

The S&P/ASX 200 Information Technology sector (INDEXASX/XIJ) closed 1.275% higher at 1,573.3 points on the ASX today (11 August). 

This article features some leading ASX-listed information technology stocks, such as WiseTech, Computershare, Block Inc., Link Administrative, and Codan, and their respective performances on the ASX today. 

Why is the ASX-tech sector performing well today? 

The ASX Information Technology sector has likely posted gains on the ASX today due to the positive trading sessions of tech stocks on Nasdaq, especially the IT giant, Meta Platforms. 

As per a recent media report, the Congress has run out of time to pass an antitrust bill targeted towards big technology companies in the US. This update has highly influenced the investors, with Meta shares closing 5.82% stronger on Nasdaq.

WiseTech Global Limited (ASX:WTC) 

Logistics software solution provider WiseTech Global Limited (ASX:WTC) shares ended 1.2% higher at AU$54.070 apiece on Thursday afternoon.

On 15 July 2022, WiseTech shared an update that reflected upgraded guidance for FY22. As per the release, WiseTech’s expected EBITDA range has increased from AU$310 million to AU$320 million from AU$275 million to AU$295 million in FY22. The company believes that strong top-line growth and cost efficiencies are beyond its expectations; hence the gain in EBITDA is expected by WiseTech. The software company is soon to release its fully audited FY22 results on the ASX.  

In a period of one year, WiseTech’s share price has gained significantly by almost 60% on the ASX. On the contrary, WiseTech’s YTD-based share price fell by 9.49% (as of 4:10 PM AEST on the ASX today).  

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Computershare Limited (ASX:CPU) 

Australian software developer for stock market, Computershare Limited (ASX:CPU) was the bottommost performing stock on the benchmark ASX200 index today. The shares closed 5.121% lower at AU$22.970 per share on Thursday.

On 9 August 2022, Computershare shared its FY22 results stating its earnings to be beyond expectations. Key highlights of Computershare’s FY22 results: 

  • The company delivered a management revenue of AU$2.6 billion in FY22, up by 12.2% from the previous corresponding period. 
  • Management EBIT of Computershare in FY22 gained by 19% to AU$530.9 million in FY22. 
  • The company will be paying 30 Australian cents of dividend to its shareholders based on its earnings in FY22. 

Meanwhile, in last 12 months, Computershare’s share price has gained by 40.49% on the ASX. On the other hand, Computershare’s YTD-based share price has gained by 12.82% (as of 4:10 PM AEST on the ASX today). 

Block Inc. (ASX:SQ2) 

Global fintech firm Block Inc. (ASX:SQ2) shares ended in the green territory on the ASX on Thursday. Block’s share price stood at AU$126.400 per share after gaining 8.423%. 

Meanwhile, Block’s share price has fallen by 28.44% on the ASX over the past 12 months.

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Link Administration Holdings Limited (ASX:LNK) 

Financial data administrator Link Administration Holdings Limited (ASX:LNK) shares closed 0.448% higher at AU$4.480 per share on the ASX today.  

Link is a Sydney-based IT firm that offers technology-enabled administration services for financial ownership data. The company holds a market capitalisation of AU$2.28 billion. 

Meanwhile, Link’s share price has declined by 11.98% on the ASX in the last 12 months. On the other hand, Link’s YTD-based share price declined as well by 19.57% (as of 4:10 PM AEST on the ASX today). 

Codan Limited (ASX:CDA) 

The electronics product manufacturer Codan Limited (ASX:CDA) closed at AU$8.40 per share after gaining 3.150 per share on the ASX today.

Holding a market capitalisation of AU$1.55 billion, Codan is a South Australia-based technology firm that deals with designing, manufacturing and producing high-value-added electronics products.  

Codan’s share price marked a loss of almost 47% on the ASX in the last 12 months. On the other hand, Codan’s YTD-share price fell by 7.72%. 

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