Three ASX Tech Stocks that Witnessed the Gain of 10% in a Month

ASX Tech Stocks

The Australian technology sector has come into the limelight lately. According to the ASX News, the Information Technology index, ASX 200 Information Technology (INDEXASX: XIJ), has recorded a drop of 38.57% in a year and rose to 2.29% in the past month (as of 15th November 2022, 10:47 AM AEDT).

In this article, let's look at the three ASX tech stocks that witnessed a gain of 10% in a month.

1. Pushpay Holdings Limited (ASX: PPH)

Established on 25th July 2011, Pushpay Holdings Limited deals in donor management systems, church management systems and video streaming solutions for Non-profit organizations, education providers and the faith sector.

On 9th November, the company shared its interim results 2023 via an ASX filing. In this duration, the company reported a 10% surge in operating revenue, a 54% fall in net profit after tax, a 47% decline in operating cash flow and a 10% fall in underlying EBITDA. In addition, the period resulted in customer growth of approximately 4%, and total processing volume grew by 2%.

Overall, Pushpay informed the market that FY23 is a year of investment as the company is willing to set the foundation for growth.

2. NOVONIX Limited (ASX: NVX)

Founded in 2013, NOVONIX Limited is a technology and battery material producer. It operates in 14 countries through businesses in USA and Canada.

As per its quarterly activity report for July to September, the company received US$150 million in Department of Energy grant funding. As of 15th November, around 10:40 AM, NOVONIX’s shares experienced a fall of 2.96% at AU$2.62 per share. In a month, the share price grew by 46.93%.

3. Objective Corporation Limited (ASX: OCL)

Incorporated in 1987, Objective Corporation Limited (ASX: OCL) is enterprise content management. The company deals in web content management, record keeping, workflow and document management technologies.

According to the company’s FY22 reports, the company delivered a 12% surge in group revenue, a 31% rise in net profit after tax and a 20% growth in EBITDA. During FY22, the company paid a dividend of 11.0 cents per share.

Final Words-

Along with the mentioned Australian tech stocks, Hansen Technologies Limited (ASX: HSN) also performed well in the previous month. The company delivered a surge of 3.4% in the operating revenue, a 7.4% increase in underlying NPAT, a 6.2% rise in underlying NPATA and 1.1% growth in underlying EBITDA.

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