ASX-listed technology companies have recorded substantial growth in the recent years. In order to keep up to date with this ever-changing market sector, Stock Brief have compiled details of the All Tech Index, which features 50 of the top technology stocks on the ASX. While you can download the entire eBook for free using the link below, this blog series will highlight each of the companies in brief detail. Here are the top 11-20 ASX All Tech Index stocks by market cap.
Technology One (ASX: TNE)
Market cap: $2.7 billion
As Australia’s largest enterprise software business, Technology One provides a global Software-as-a-Service enterprise resource planning software solution. With offices in six countries across the world, the company’s focus on the cloud, and harnessing efficiencies for its customers, is at the core of its offer.
With a history dating back 32 years, Technology One has rolled out its SaaS solution to more than 1,200 clients across the private and public sectors thanks to its inherent capabilities that facilitate its flexible deployment across any device, in any location, and at any time.
Pro Medicus (ASX: PME)
Market cap: $2.6 billion
Founded in 1983, Pro Medicus is a leading medical imaging IT provider. The company provides a full range of radiology IT software and services to hospitals, imaging centres and health care groups worldwide. As part of its global focus, Pro Medicus operates from offices in three locations – Melbourne, San Diego and Berlin.
The company acquired Visage Imaging in early 2009, which today functions as a global provider of leading-edge enterprise imaging solutions. Pro Medicus also offer a leading suite of RIS, PACS and e-health solutions, which makes it one of the most comprehensive end-to-end offerings within the radiology industry.
Link Administration Holdings (ASX: LNK)
Market cap: $2.2 billion
Link Group administers financial ownership data and drives user engagement through technology. The company works with clients to deliver solutions and technology platforms that increase efficiencies, enhance the user experience, and connect people with their assets. These assets extend to equities, pension and superannuation funds, investments, property, as well as other assets.
Link’s expertise in digital solutions and data analytics allows it to service corporate markets, fund solutions, banking and credit management needs, retirement and superannuation solutions, plus value-added technology operations. As a market-leading provider of technology-enabled administration solutions, Link Group works with some of the world’s largest corporations, pension funds, and financial institutions.
Pushpay Holdings (ASX: PPH)
Market cap: $2.1 billion
Once upon a time, churches were relying on donation plates to complete fundraising activities. Nowadays, digital donation platforms have filled the void. Pushpay Holdings is a software and services provider that operates a donor management system, including donor tools, finance tools and a custom community app. Not only does it work with the faith sector, but it also services non-profit organisations as well as overseas-based education providers, including many in the US.
The core value proposition of its software is to help said businesses simplify engagement, increase participation and build stronger community ties, ultimately allowing them to optimise their fundraising efforts. While these days its focus is diversified across different clientele, Pushpay Holdings still has a large emphasis on the faith sector, courtesy of its subsidiary, Church Community Builder, which provides Software-as-a-Service specifically to help churches connect, communicate and understand their followers. The company’s share price has been soaring in recent months, and with an innovative award-winning solution like this, has gained significant traction.
Megaport (ASX: MP1)
Market cap: $2.1 billion
Megaport specialises in the provision of software that supports the cloud, acting as a global leading provider of ‘Elastic Interconnection’ services. Using Software Defined Networking (SDN), Megaport’s platform helps its customers connect to other services across the Megaport network, whether it be through their mobile phones, computers or other API-capable means.
The company boasts more than 1,700 customers across its 601 enabled data centres. It is also a partner to various cloud platform providers including AWS, Google, IBM, Microsoft, Oracle, Salesforce and SAP, to name but a few.
Iress (ASX: IRE)
Market cap: $2.1 billion
Iress provides software to the financial services industry, assisting fund managers, wealth managers, asset managers as well as other participants within the financial market landscape. The company’s software and services extend to trading and market data, financial advice, investment management, mortgages, superannuation, life and pensions, and data intelligence.
With an increasing level of sophistication in financial markets trading over the last twenty-odd years, Iress has been leveraged to the digitisation of the stock market and growing trading volumes. Iress has become a first-class international software solution servicing 9,000 businesses and 500,000 users across the world.
Domain Holdings Australia (ASX: DHG)
Market cap: $1.9 billion
Spun out of the media enterprise Fairfax, Domain is classified as a media and entertainment business that has a formidable position in the property tech niche. The company delivers property marketing solutions for residential, new development and commercial properties, plus the latest market intelligence that attracts qualified buyers, sellers, renters and investors to listings. Tapping into Australia’s long love affair for all things property, the business is directly tied to the property market cycle, reliant on the whims of house buyers and sellers to drive its revenue.
Tyro Payments (ASX: TYR)
Market cap: $1.8 billion
Another player in the digital payments space, Tyro Payments is a fintech business specialising in merchant credit, debit and EFTPOS acquiring. The company provides simple, flexible and reliable payment solutions as a merchant acquirer, along with complementary business banking products such as merchant cash advances and fee-free, interest-bearing merchant transaction accounts.
In the first half of FY20 Tyro Payments processed more than $11.1 billion in transactions for over 32,000 Australian merchants, making it the nation’s fifth-largest merchant acquiring bank by number of terminals in the market – only behind the ‘Big Four’. Since its formation in 2003 to its pioneering award of an Australian banking licence in 2015, Tyro has carved out a highly successful growth trajectory and is now looking to expend from an in-store focus into the burgeoning e-commerce channel.
Kogan (ASX: KGN)
Market cap: $1.8 billion
Kogan has transformed itself into one of the leading e-commerce websites for a wide variety of affordable consumer goods and services. Although its focus still largely rests on the consumer tech marketplace, Kogan also provides insurance, home loans, travel deals, mobile phone and internet services, furniture, office supplies, health and beauty items, sports and automotive goods, plus much more. The company has diversified into a broad-based online retailer, taking it up to the likes of traditional brick-and-mortar retailers.
Codan (ASX: CDA)
Market cap: $1.5 billion
Codan is a South Australian electronic radio technology company providing robust hardware and equipment solutions that solve customers’ communications, safety, and security and productivity problems in some of the harshest environments around the world.
With roots dating all the way back to 1959, Codan is one of the oldest technology companies on the ASX. The company’s client list includes United Nations organisations, mining companies, security and military groups, government departments, major corporates, as well as individual consumers and small-scale miners.
More All Tech Index Stocks
We've written a quick analysis of all the companies in the index. As there are 50 companies, we've split this out into 5 posts.
- ASX All Tech Stocks 1-10 (APT, REA, XRO, SEK, CPU, WTC, NXT, CAR, APX, ALU)
- ASX All Tech Stocks 21-30 (EML, BVS, FCL, NEA, WEB, TPW, DTL, IRI, IFM, HSN)
- ASX All Tech Stocks 31-40 (ELO, RBL, 360, AD8, NTO, VHT, RHP, BTH, DUB, CGL)
- ASX All Tech Stocks 41-50 (CAT, RUL, LVT, PPS, CL1, ALC, PCK, NET, RAP, AMS)