AUS
NZ
UK
CA
USA
IND
_07_12_2023_11_05_52_936360.jpg)
Highlights
- The technology sector is a key player behind the global digital evolution.
- A Canadian software firm posted a revenue growth of 93 per cent year-over-year (YoY) growth in Q3 FY2021.
- A software stock expanded by nearly 116 per cent this year.
The technology sector is a key player behind the global digital evolution. While the sector can be seen witnessing rapid selloffs from time to time, it continues to be a crucial investment venture as technological advancement is something that is likely to grow more popular with time.
Keeping this in mind, let us discuss some top Canadian tech stocks that performed well in 2021 and cost under C$ 50 apiece.
1. Converge Technology Solutions Corp (TSX:CTS)
Canadian software firm Converge Technology Solutions posted a revenue of C$ 367.3 million in the third quarter of fiscal 2021, reflecting a year-over-year (YoY) growth of 93 per cent.
The company generated a net income of C$ 4.596 million in Q3 FY2021, up from C$ 764 million in the same quarter a year ago.
The software stock expanded by nearly 116 per cent year-to-date (YTD) to close at C$ 10.72 apiece on Thursday, December 16.
Also read: Top 4 penny dividend stocks of 2021
2. Voyager Digital Ltd (TSX:VOYG)
A crypto asset broker, Voyager Digital Ltd reported a revenue of US$ 2 million in the third quarter of FY2021, noting a YoY growth of 3,280 per cent.
It saw total verified users of over 2.15 million in the latest quarter, which was a quarter-over-quarter (QoQ) growth of 23 per cent.
The crypto stock increased by over 210 per cent YTD and closed at C$ 15.52 apiece on December 16.
Image source:© 2021 Kalkine Media®
3. Nubeva Technologies Ltd (TSXV:NBVA)
Nubeva Technologies Ltd is a junior technology company that provides business-class decryption software solutions.
On November 17, 2021, the company confirmed that its Symmetric Key Intercept decryption technology could instantly recover data from Conti ransomware.
Nubeva saw its stock close at C$ 1.3 apiece on December 16, up by over nine per cent. Its stock also jumped by nearly 163 per cent in the last nine months.
4. Sylogist Ltd (TSX:SYZ)
Sylogist Ltd, which offers enterprise resource planning solutions, posted a revenue of C$ 10.8 million in the fourth quarter of fiscal 2021, noting a YoY rise of 10 per cent.
SYZ stock swelled by nearly 24 per cent in the last three months and closed at C$ 12.60 apiece on December 16.
5. Optiva Inc (TSX:OPT)
A Toronto-based management software provider for the telecom industry, Optiva Inc reported revenue of US$ 16.7 million and net income of US$ 3.8 million in the third quarter of fiscal 2021.
Its stock expanded by over 34 per cent in the last one month.
On December 16, Optiva stock closed at C$ 26.86 apiece, up by nearly one per cent.
Also read: How to buy the best dividend stocks in Canada?
Bottom line
The S&P/TSX Capped Information Technology Index has soared by nearly 11 per cent YTD.
With the space evolving at a neck-break speed, people and businesses are likely to get more dependent on technology with passing time. This, in turn, could increase sales figures of tech companies and boost their stock performance.
