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 21-30 ASX All Tech Index stocks by market cap.
EML Payments (ASX: EML)
Market cap: $1.1 billion
EML is a payments processing provider servicing businesses and consumers. The company’s technology portfolio includes solutions for gifts, rewards, incentives and payouts. As part of this, EML Payments issues mobile, virtual and physical card solutions.
The business, in partnership with Mastercard and Visa, serves some of the largest corporations in the world and processes billions of dollars in payments per year. With a multitude of programs spread across more than 20 countries, and the growing transition to digital payments that include the likes of prepaid debit cards, EML Payments has seen its growth explode in the last 18 months.
Bravura Solutions (ASX: BVS)
Market cap: $1.1 billion
Established in 2004, Bravura is a leading provider of software solutions for the wealth management, life insurance, and funds administration industries. The company’s software solutions enable clients to increase speed to market, provide a seamless digital experience and address ongoing changes in financial services regulation.
Offering on-premises, managed, hosted and cloud solutions, Bravura’s client book features a host of leading financial services firms who use the company’s systems to oversee trillions of dollars in assets. Bravura has positioned itself as an international business with offices spread across 12 locations in various continents, thus offering it more scale to drive growth.
FINEOS Corporation Holdings (ASX: FCL)
Market cap: $1.1 billion
A speciality software and services provider with a niche focus, FINEOS is a leading provider of core administration systems for health, accident and life insurers throughout the world. The company works with six of the ten largest life and health insurance carriers in Australia, while in the US it works with seven of the leading ten players in this segment.
As an international business FINEOS has been able to harness the scale of its operations and client book in order to generate growth, with Asia and Europe also representing lucrative growth markets. In addition to its flagship FINEOS AdminSuite product, the company has branched into other supporting software, including analytics, reporting and digital engagement, thereby providing the business with a multi-channel revenue stream that maximises recurring revenue.
Nearmap (ASX: NEA)
Market cap: $1 billion
Nearmap is an aerial imagery and location data specialist, which provides subscription software that allows users to monitor geospatial trends and observations from afar. The company provides high-frequency, high-resolution aerial imagery of a large swathe of Australia, and an increasing level of coverage for overseas markets such as New Zealand and the US.
End-use applications for the technology extend to trades industries, real estate, utilities providers, governments and many others. Nearmap has only begun to expand into the US in recent years, with the company recording significant subscription growth as it establishes its presence in this huge market. In the meantime, the business has entrenched itself as a best-in-class product within Australia, where that division has reached profitability – something management hope to achieve over the Group business in time.
Webjet (ASX: WEB)
Market cap: $1 billion
From a humble online travel agency with a local focus, to the second-largest lodging provider in the world – offering B2B beds via its WebBeds division – Webjet has seen a period of significant growth grind to a halt amid the COVID-19 pandemic.
Considered one of the earliest disruptors in the online travel booking space, this consumer discretionary retailer is also leveraging blockchain technology to optimise settlements between hotel suppliers and travel partners, while also facilitating tokenised, in-house payment solutions.
Temple & Webster Group (ASX: TPW)
Market cap: $857.5 million
With more than 180,000 products on sale from hundreds of suppliers, and an ever-growing customer base, Temple & Webster Group has risen to become Australia’s leading online retailer of furniture and homewares. The resilience of e-commerce has proven to be a strong tailwind for the business, sparking accelerated growth throughout 2020.
One of the key aspects to the business’ success is its distribution model, which relies on drop-shipping. This involves products being sent directly to customers from suppliers, not only allowing quicker delivery times, but reducing the need for Temple & Webster to hold inventory on its books. This also means that the business can focus on pushing its own private label range of products, which provide higher margins.
Data#3 (ASX: DTL)
Market cap: $788.4 million
Having been listed on the ASX since 1997, Data#3 is a leading Australian IT services and solutions provider. The company’s focus is directed towards helping its customers solve complex business challenges using innovative technology solutions. Such solutions include cloud, mobility, security, data & analytics, and IT lifecycle management, which are deployed across consulting, project services and support services.
With 12 facilities across Australia and Fiji, and over 1,200 staff, the company continues to utilise key licenses to its advantage, while also acting as a reseller and outsourcer. Data#3’s revenue and earnings profile has shown signs of entering a new stage of growth across the last year, acting as a boon for its share price, which is circling its all-time high.
Integrated Research (ASX: IRI)
Market cap: $687.4 million
Integrated Research is a leading global provider of proactive performance management software for critical IT infrastructure, payments and communications ecosystems. The company’s leading solution, IR Prognosis, is deployed by clients including some of the world’s largest banks, airlines and telecoms businesses throughout 60 countries. IRI’s software is designed to provide business critical insights and ensure continuity-critical systems deliver high availability and performance for each of its customers.
Infomedia (ASX: IFM)
Market cap: $677.8 million
Servicing the global automotive industry, Infomedia is a technology services developer and supplier of electronic parts catalogues and service systems. The company relies heavily on a Software-as-a-Service business model to provide detailed analytics and information management for the car and oil industries. With over 25 years of experience behind it, plus leading innovation in service infrastructure right throughout its history, Infomedia continues to grow across three key markets.
Hansen Technologies (ASX: HSN)
Market cap: $572.9 million
Since 1971 Hansen Technologies has specialised in billing systems, with the company eventually listing on the ASX in 2000. Hansen provides software and services to the telecommunications, water, energy and pay TV industries through its award-winning software portfolio.
With operations that span to over 80 countries, while simultaneously servicing over 550 customers, Hansen has become a fundamental stakeholder in the creation, sale and delivery of products and services, management and analysis of customer data, customer support processes, and the control of critical revenue management.
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 11-20 (TNE, PME, LNK, PPH, MP1, IRE, DHG, TYR, KGN, CDA)
- 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)