Which are top 5 NZX technology penny stocks of 2021?

Highlights 

• NZ tech stocks are a major contributor to the national economy.
• Plexure Group completes the majority of its consultation process, which has resulted in significant cost reductions.
• Geo concludes its share placements, proceeds of which would be used for accelerating its growth initiatives.

New Zealand’s technology sector plays a crucial role in the progression of the country’s economy. As per Stats NZ’s 2021 report, the country's tech sector comprises over 23,000 companies, and employed more than 111,000 people in 2020.

Furthermore, NZ’s tech sector is the fastest growing segment of the nation’s economy, which contributes significantly towards the country's GDP.  

With this overview, let us explore the five NZX-listed penny stocks worth considering for the remainder of the year.

Source: © 2021 Kalkine Media® data source- EODHD/Others

Plexure Group Limited (NZX:PX1; ASX:PX1)

Focusing on analytical tools for identifying apt products to recommend to customers, Plexure Group Limited offers enhanced customer engagement. Recently, the Group announced the substantial completion of its consultation process, which has resulted in significant cost reductions of about NZ$8 million annually and operational restructuring.

Related Read: Are these 5 best technology stocks to explore in 2022?

The said consultation process would make a stronger impact on PX1’s business, which eventually would benefit its customers, shareholders and other stakeholders.

On 20 December, at the closing bell, Plexure Group dipped by 1.02% at NZ$0.485.

PaySauce Limited (NZX:PYS)

PaySauce Limited is a well-known SaaS-based company offering payroll solutions to its customers. In its FY2022 Interim Report, the Company revealed that its recent acquisition of SmoothPay had helped in the 49% growth in its ARR (Annualised Recurring Revenue) and expansion of its customer base.

Moreover, PYS reported a 43% YoY increase in its revenue, the majority of which has been reinvested into its businesses to deliver enhanced growth.

The Company remains focused on building for scale and offering enhanced value creation for its customers.

On 20 December, at the closing bell, PaySauce gained 1.67% at NZ$0.305.

Vital Limited (NZX:VTL)

One of the leading providers of infrastructure and communication services across the country is Vital Limited. When it had announced its 2021 AGM, Vital carried out resolutions relating to the re-election of its retiring directors, namely, Reginald Barrett and Nathan York.

Must Read: Do these 3 NZX penny stocks pay dividends too?

Also, the Board was empowered to determine VTL auditors’ fees and expenses for the upcoming year.

On 20 December, at the closing bell, Vital traded flat at NZ$0.470.

Geo Limited (NZX:GEO)

Another tech-driven NZ company is Geo Limited, which provides job management software solutions to its clients. Earlier this month, the Company disclosed the successful completion of its share placements.

Do Read: Which are 5 NZX cheap stocks to explore in 2022?

It was able to raise nearly NZ$7 million capital through these placements, which would be utilised towards accelerating its growth initiatives and enhancing further investments related to ANZ and international markets.

On 20 December, at the closing bell, Geo fell by 3.29% at NZ$0.147.

TruScreen Group Limited (NZX:TRU; ASX:TRU)

Last on the list is TruScreen Group Limited, which provides accurate, real time screening solutions for the detection of cervical cancer through its AI-based medical devices. A few days ago, the Company released its market update, highlighting its key progress in its major markets.

Also Read: TruScreen (NZX:TRU) reports strong revenue growth of 25%

A leading Vietnam-based hospital has adopted TRU to be its primary screening method. Also, its IntelMed Systems, Company's Russian distributor, continues to raise awareness throughout the Russian Federation regarding TRU’s technology.

Further, a Chinese journal has re-established TruScreen’s role in the screening of cervical cancer across the Chinese market.

On 20 December, at the closing bell, TruScreen Group rose by 1.25% at NZ$0.081.

Bottom Line

NZ boasts rich, advanced, and competitive technology-driven companies employing cutting-edge know-how. It is a breeding ground for innovation, which helps the Pacific country to compete successfully on the world stage.