How are 5 NZX technology stocks faring post NZ tech awards?

Highlights 

• NZ announced winners of the annual Microsoft New Zealand Partner Awards 2021 on Monday.
• Enprise Group fared well in 2021 despite facing challenging times of COVID-19.
• PaySauce reported a 43% Y-O-Y rise in revenue in H1FY22.

The technology sector is the second-biggest revenue generator for New Zealand and represents the greatest economic growth opportunity for NZ in a fast-digitising world.

NZ announced the winners of the annual Microsoft New Zealand Partner Awards 2021 on Monday. A world-first running model which drastically paces up the claims procedure for those impacted by natural disasters was amongst the biggest winners in the awards.

Image source: © 2021 Kalkine Media, Data source- EODHD/Others

On this note, let’s see how these 5 NZX tech stocks are faring.

Geo Limited (NZX:GEO)

Geo reported that it had finished its placement, which was well received by its investors, resulting in a capital raising of about NZ$7 million.

RELATED READ: Are these 5 best technology stocks to explore in 2022?

Proceeds of the capital offering will be used to expand GEO's investing activities in the Australian, New Zealand, and overseas markets.

GEO ended the day 5.49% in red to close at $0.155.

Vista Group International Limited (NZX:VGL; ASX:VGL)

Vista Group made several management changes in October. It announced that Will Palmer, the CEO of its group business Movio, will leave the firm at the end of the year.

Palmer's support for Vista Group's success was recognised and appreciated by VGL's CEO.

VGL ended the day 2.19% in green to close at $2.33.

Enprise Group Limited (NZX:ENS)

Enprise provided an investor update on 26 November. The Group fared steadily through a challenging year where COVID-19 led to market uncertainty. ENS registered a double-digit growth across its investee firms for the 4 months ended 31 October 2021.

ALSO READ: Enprise (NZX:ENS) reports revenue growth across business despite COVID headwinds

Enprise is on a path to pursue an aspiring growth approach in the years ahead.

ENS ended the day flat to close at $1.63.

Serko Limited (NZX:SKO; ASX:SKO)

Serko announced the opening of a retail offer worth $10 million on 30 November and the offer is a part of the Company’s capital-raising plan announced earlier where Serko undertook a $75-million Placement.

The Offer will close on 14 December and the results will be announced on 17 December.

SKO ended the day 1.9% in green to close at $6.45.

PaySauce Limited (NZX:PYS)

PaySauce delivered robust growth in H1 FY22. It reported a 43% Y-O-Y rise in revenue in the period and reinvested the major part of the revenue back into revenue-making areas of the business like product improvement, supporting and bringing new customers.

RELATED READ: PaySauce (NZX:PYS) delivers its FY2022 half-year result

Customer metrics are also trending positively amid fast-tracked growth from the purchase of SmoothPay.

PYS ended the day 1.75% in green to close at $0.29.

Bottom Line

The technology sector is faring well in times when other companies are struggling for survival amid COVID-19 uncertainty.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)