These were the best performing ASX tech shares in September

These tech shares had strong months…
The post These were the best performing ASX tech shares in September appeared first on The Motley Fool Australia. –

While the tech sector tumbled with the rest of the share market in September, not all tech shares dropped into the red.

Here’s why these were the best performing major tech shares last month:

Altium Limited (ASX: ALU)

The Altium share price was the best performer among the major tech shares last month with a sizeable 18.8% gain. This was despite there being no news out of the electronic design software company. However, the company’s shares had pulled back materially over the previous two months after Autodesk ended its takeover interest.

IDP Education Ltd (ASX: IEL)

The IDP Education share price wasn’t far behind with a strong 18.4% gain. This may have been driven by optimism over the vaccine rollout and a broker note out of UBS. In respect to the latter, the broker has retained its buy rating and lifted its price target on the language testing and student placement company’s shares to $36.40.

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price was a strong performer in September and charged 15% higher during the month. This was driven by a bullish broker note out of Bell Potter. According to the note, the broker upgraded the company’s shares to a buy rating and lifted its price target on them by 28% to $12.50. Bell Potter notes that the company has announced the progressive cessation of support from October for customers who use its on-premise solution. Its analysts believe this will accelerate the rate of customers switching to its software-as-a-service (SaaS) offering.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price was on form and rose 11% during the month. This was despite there being no news out of the logistics solutions company. This latest gain means that the WiseTech share price is now up 74% since the start of the year.

The post These were the best performing ASX tech shares in September appeared first on The Motley Fool Australia.

Should you invest $1,000 in WiseTech right now?

Before you consider WiseTech, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and WiseTech wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

3 fantastic ASX growth shares to buy in October

3 rapidly growing ASX shares to buy in October

How have the WAAAX shares performed so far this year?

ASX 200 tech correction? 5 of the worst-hit shares

Why ASX tech shares are crashing on Wednesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium, Idp Education Pty Ltd, and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Altium and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!