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There are a number of companies in the tech sector that are expected to grow at a strong rate in the future.

Two that you might want to get better acquainted with are listed below. Here’s what you need to know about them:

Altium Limited (ASX: ALU)

The first ASX tech share to look at is this printed circuit board (PCB) focused electronic design software provider. Although COVID-19 has been weighing on Altium’s performance and could lead to it falling short of guidance in FY 2021, management remains as positive as ever on the future.

This due to its industry-leading platform and a number of tailwinds which are underpinning increasing demand for electronic design software.

These include the rapidly growing artificial intelligence and internet of things markets, which are leading to a proliferation of electronic devices globally. All in all, management is aiming to more than double its revenue to US$500 million in the next five years and appears confident it will get there.

Credit Suisse is bullish on Altium. It recently put an outperform rating and $42.00 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX tech share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider that connects tradies with residential and commercial consumers. It has been growing at a strong rate in FY 2021 and looks well-placed to continue this positive form long into the future. This is thanks to the increasing popularity of its platform and its large market opportunity.

Analysts at Goldman Sachs are very positive on its prospects and currently have a buy rating and $3.40 price target on its shares. The broker notes that the company has a clear strategy to further evolve its ecosystem to increase the value it can provide to a tradie. It expects this to help the company grow its market share and total addressable market (TAM).

It explained: “In our view the road-map to build out the ecosystem provides a notable adjacency for HPG to grow its market share and TAM and provides a strong long-term growth driver. For context, HPG captures c.5% of total industry advertising spend. We see scope for this to grow at a meaningful rate as HPG’s service offering addresses a greater proportion of a tradie’s needs, noting that REA/CAR now capture c.40-60% of spending in their respective categories.”

The post 2 excellent ASX tech shares named as buys appeared first on The Motley Fool Australia.

More reading

• 3 stellar ASX growth shares that are highly rated
• Here are the 5 worst performing ASX 200 tech shares from FY21
• 3 stellar ASX growth shares analysts love
• Why the Altium (ASX:ALU) share price rocketed 30% higher in June
• These were the best performing ASX 200 shares in June

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 and Hipages Group Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is having a decent day on the markets today. At the time of writing, the ASX 200 looks set to end this Wednesday in the green (touch wood), and is currently up 0.76% to 7,317 points. But let’s have a look at the trees, rather than the forest, and check out which ASX 200 shares are trading with the heaviest volume today:

3 of the most traded ASX 200 shares today

Sydney Airport Holdings Pty Ltd (ASX: SYD)

Sydney Airport is our first ASX 200 share to look at today. A hefty 18.33 million Sydney Airport shares have traded hands so far today. This company has been at the centre of attention on the share market this week, following the blockbuster proposed takeover deal announced on Monday. This saw the Sydney Airport share price shoot up by roughly 35%. Today, however, Sydney Airport shares are currently down 1.82% to $7.57. It’s likely a combination of these factors that are leading to such high trading volume.

Boral Limited (ASX: BLD)

Boral is another ASX 200 share that is being very heavily traded today. Currently, a substantial 36.79 million Boral shares have swapped hands so far this Wednesday. Boral is another ASX share that has had a rather sensational week. Having spent a fair amount of time rebuffing takeover advances from Seven Group Holdings Ltd (ASX: SVW) recently, we got the news this morning that Seven had bought enough Boral shares to raise its stake in the company to 34.5%. Seven had promised a higher takeover offer if it reached this level. As such, it’s perhaps no surprise the Boral share price is moving higher today. It’s currently up 0.27% to $7.40 a share. This in turn might be prompting such a large number of Boral hands to trade today.

Challenger Ltd (ASX: CGF)

Out final share, and the most traded ASX 200 company on the markets today, is Challenger. This annuities provider has seen a whopping 85.7 million shares trade hands so far today, substantially more than any other ASX 200 share. Again, we don’t have to look too far to understand why this is happening. The Challenger share price is currently up a hefty 8.87% today to $5.96 a share after rising as high as $6.22 this morning (up 14%).

Why? Challenger this morning announced that a “strategic partner” in  Apollo Global Management has agreed to acquire a 15% stake in Challenger from Caledonia Investments. This is clearly a vote of confidence in Challenger, and is probably the main catalyst behind the large volume of trades we are seeing today.

The post Here are 3 of the most traded ASX 200 shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Neometals Ltd (ASX: NMT) shares were well in the red today after the company announced the completion of its nickel mineral resources review. At market close, the Neometals share price was trading 8.18% lower at 50.5 cents.

Let’s take a closer look at today’s news from the Australian minerals explorer.

Mt Edwards project review complete

Today’s moves down for the Neometals share price came following the company’s announcement it has completed the nickel mineral resources review at its Mt Edwards nickel project. The analysis finalises a two-year examination of the project, which is located in Western Australia.

In the report, the company completed a review of 11 nickel mineral resources, with 9 mineral resources having been re-estimated between November 2019 and June 2021 using “new and existing data”.

The new global mineral resource was found to provide 162,560 tonnes of contained nickel, from a total of 10.220 million tonnes of ore that averaged a 1.6% nickel grade.

Regarding the Mt Edwards project, Neometals had this to say in today’s update:

The increase for the Mt Edwards 26N Mineral Resource announced 30 June 2021 is the last re-estimation considered necessary with the current information. An assessment of the Cooke1 and Widgie 32 Mineral Resources was completed by Richard Maddocks from Auralia Mining Consultants. In Mr Maddock’s assessment, the current estimates do not warrant reinterpretation given the available data.

Today’s release comes after a series of announcements made by the company since 29 June, each surrounding the Mt Edwards project.

Since 28 June, including today’s trading, the Neometals share price has spiked 9.8%. This is also in spite of today’s downside.

Neometals share price snapshot

At the current market price, Neometals has a market capitalisation of around $275 million and earnings per share (EPS) of -1.8 cents.

The Neometals share price has remained firmly in the green over the previous 12 months, clocking a 1-year return of more than 236%.

Since 1 January, the company’s shares have returned almost 84% to investors, outpacing the S&P/ASX 200 Index (ASX: XJO)’s return of around 11% over this time period.

Neometals shares are 5.6% in the red over the previous 1 month but have finished the previous 5 trading sessions in the green. The company’s shares are trading off their 52-week high of 59 cents but are above their 52-week low of 14 cents.

The post Neometals (ASX:NMT) share price slips 8% following project review appeared first on The Motley Fool Australia.

More reading

• Why the Neometals (ASX:NMT) share price is up 7% today
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The author Zach Bristow has no positions in any of the stocks mentioned. Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Uniti Group Ltd (ASX: UWL) have spent today firmly in the green, punctuated by an explosive jump in trading around midday. At the market close, the Uniti share price was up 7% trading at $3.36.

Let’s take a closer look at what happened with the telecommunication provider today.

Broker says buy

Bell Potter analyst Chris Savage upgraded his recommendation for Uniti shares this morning, assigning a buy recommendation from a hold rating.

Savage set the price target to $3.60 in the research report on Uniti, raising the target from $3.20.

The broker’s new price target implies an upside potential of 7.5% from the current share price.

Bell Potter believes the company will likely report an underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $130 million for FY21, which it believes is the number to watch in the earnings release next month.

On 23 June, analysts at Canaccord Genuity also increased their price target on Uniti shares to $3.70. JP Morgan released a positive equity research report in June as well, outlining the upside potential to the company’s NBN exposure.

These analyst upgrades came after the company was included in the ASX 200 after its reshuffling back in June.

The Uniti share price has climbed 15% since these broker notes, including today’s moves into the green.

Uniti share price snapshot

The company’s share price has outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of 0.8% today.

Today’s gains extend Uniti’s run in the green this year. The Uniti share price has posted a year to date return of almost 96%, building on a 119% 12-month return and outpacing the broad index’s 12-month return of around 22%.

At the current market price, Uniti Group has a market capitalisation of $2.26 billion, and trades at a price-to-earnings ratio (P/E) of 79.

The post The Uniti (ASX:UWL) share price has surged 7% today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here are the 5 best ASX telecom shares of the 2021 financial year
• The Uniti Group (ASX:UWL) share price has rocketed 130% in 1 year
• 8 ASX shares that supercharged us out of COVID-19: analyst
• Why we avoid mining and biotech ASX shares: fund manager
• First time in 30 years! 6 ASX shares for crazy times: analyst

Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The pandemic prompted many companies to be prudent with capital. With the depth and duration of a recession unknown, many ASX-listed shares battened down the hatches by suspending dividends and raising additional capital.

Thankfully, 16 months on and the Australian economy has enjoyed what some would describe as a ‘V’ shape recovery.

In a news release today, asset manager Janus Henderson Group CDI (ASX: JHG) revealed that it’s expecting that much of these funds will flow back into the pockets of investors.

It pays to be thrifty

In the release, Janus Henderson points out that total global debt has barely budged since January 2021. However, in the year before, debt jumped 10% to a record $13.5 trillion – illustrating the sudden rebound in economic activity.

By Janus Henderson’s estimates, a record-setting $5.2 trillion globally. The $1.1 trillion increase in 2020 was twice as much as the previous five years combined.

So then, with bountiful supplies of capital sitting on corporate balance sheets, the asset management anticipates a boom in capex, dividend payments, and share buybacks through the tail-end of the year and beyond.

Head of Australian fixed interest at Janus Henderson, Jay Sivapalan said:

Companies around the world have weathered the last 16 months with impressive skill. An investment boom is highly likely after the Covid-19 freeze. This will account for a large portion of the reduction in cash balances this year but share buybacks and higher dividends will be part of the story too.

ASX shares flicking back on the dividend dispenser

Leading broker UBS picked up the discrepancy between earnings and dividends earlier in the year. UBS analyst Pieter Stoltz noted:

There appears to be a disconnect between earnings and dividends that the market is missing at the stock level but is visible from the top down. We think analysts are assuming that companies will maintain payout ratios at low levels despite the improved outlook and improved balance sheets since the peak of the COVID crisis.

Additionally, UBS disclosed a handful of ASX shares that it consider to be top candidates for dividend upgrades. These included AusNet Services Ltd (ASX: AST), Bendigo and Adelaide Bank Ltd (ASX: BEN), Downer EDI Limited (ASX: DOW), OZ Minerals Limited (ASX: OZL), Spark Infrastructure Group (ASX: SKI), Suncorp Group Ltd (ASX: SUN), and Vicinity Centres (ASX: VCX).

Together with a declining payout ratio and an improving balance sheet, the broker considered these companies to be possible contenders with dividend revisions lagging earnings revisions.

Big four dividend dilemma

Janus Henderson is not the only ones forecasting big payouts. Similarly, analysts at Morningstar last week estimated there to be $34 billion of excess capital sitting on the balance sheets of the big four banks.

Equity analyst, Nathan Zaia noted his forecast that a portion of the capital will be returned to shareholders through off-market share buybacks over the next 12 months.

From there, Zaia expects boosted dividends between 2021 to 2024 for ASX bank shares. Investors will no doubt be keeping a close eye out for high-yielding, quality companies as dividends resume.

The post A dividend bonanza could be inbound for ASX shares, here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Magellan Financial Group Ltd (ASX: MFG) share price is having a rollercoaster day today. Earlier in the day, the Magellan share price was falling. But in late afternoon trading, Magellan shares are up 0.24% to $53.83 a share.

So what’s the latest from this ASX fund manager?

Well, this morning, we got Magellan’s latest funds under management (FUM) figures. And they make for some interesting reading.

Magellan reported that its FUM as of 30 June 2021 stood at $113.9 billion. That’s up 7.4% from the previous month’s figure of $106.05 billion. This was made up of $30.88 billion in retail investor FUM. And $83.02 billion in institutional FUM. These figures were both up from last month’s $23.03 billion and $77.02 billion respectively.

All of Magellan’s fund groups experienced increases. But in pole position was Global Equities, which managed to grow from $79.33 billion of FUM in May to $85.44 billion by the end of June.

Additionally, Magellan informed investors that it had also experienced net outflows of $351 million for the quarter ending 30 June 2021. This means that the lion’s share of the increase in FUM would have come from rising share markets and asset prices. These were clearly enough to overcome this net outflow of invested capital.

On a final note, the company also told the markets that it is entitled to collect approximately $30 million in performance fees for the 2021 financial year.

How are Magellan’s funds performing?

Let’s also take a quick look at how Magellan’s funds are performing. The flagship Magellan Global Fund (ASX: MGF) is currently up 10.77% (as of 30 June) over the past 12 months. It (or its unlisted equivalent) has also averaged 13.21% per annum over the past 3 years, 14.37% over the past 5 and 11.92% since the fund’s inception in 2007. Meanwhile, the Magellan High Conviction Fund, which is mirrored by the ASX listed Magellan High Conviction Trust (ASX: MHH), is up 17.38% over the past 12 months. It has averaged 12.09% over the past 3 years, 15.15% per annum over the past 5 and 15.03% since its inception in 2013.

The post Magellan (ASX:MFG) share price rises after falling earlier appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns shares of Magellan High Conviction Trust. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The fortunes of ASX healthcare shares can often swing on one momentous milestone.

Examples of such a make-or-break event could be a breakthrough invention, successful product trial, or regulatory approval (or rejection).

Such incidents can see health stocks unambiguously rocket up or crash down.

As such, it’s always wise to be aware of when stock-turning news might be expected.

Helpfully, Bell Potter analysts this week identified some ASX healthcare shares that could have company-changing events coming up this year.

It’s worth noting again that there’s no telling whether the resulting news will turn out to be good or bad. So Bell Potter staff do classify them as “speculative buys”.

Anyway, here are 3 of them:

Extending life for brain cancer patients

Kazia Therapeutics Ltd (ASX: KZA)’s flagship product is called paxalisib, which is a treatment for glioblastoma — an aggressive type of brain or spinal cord cancer.

“Kazia is expected to release final data from its phase 2 study investigating the use of paxalisib in glioblastoma,” Bell Potter analyst John Hester said in a memo to clients.

“The interim data showed a 5-month extension in overall survival.”

The Australian company has been invited to join an international study in the United States called GBM Agile.

“This is an approval study and patients are currently recruiting. If approved, the drug will have exclusivity until at least 2031 and likely longer following the grant of further patents.”

Kazia shares were trading at $1.32 on Wednesday afternoon. That’s up 11.34% this year.

Bell Potter has set a target price of $2.50.

Will heartache turn into joy for Mesoblast shareholders?

While they would have known it was a speculative purchase, the past 12 months nevertheless have been rough on Mesoblast Limited (ASX: MSB) investors.

The stock has plummeted more than 43% over the last year.

But the current quarter could see a massive shakeup in the shares’ fortunes.

“Potential closure of Novartis deal for remestemcel-L with US$50m upfront in 3QCY21 will be a key catalyst,” said Bell Potter analyst Tanushree Jain.

The paediatric use for its flagship product remestemcel-L could also be re-submitted to the Food and Drug Administration (FDA) in the US this year.

“Potential approval and sales by mid-CY22 [would be] earlier than our current expectations and would be a material catalyst.”

Mesoblast stocks were going for $2.03 on Wednesday afternoon. Bell Potter has set a target of $3.60.

Is this the ‘holy grail’?

Aroa Biosurgery Ltd (ASX: ARX) has developed soft tissue regeneration technology branded Endoform.

“It provides a ‘holy grail’ solution to the notorious trade-off between safety, efficacy, and cost versus competitors,” said Bell Potter analyst Elyse Shapiro.

“FY22 revenue guidance incorporates conservative growth assumptions and leaves room for upside.”

But the exciting recent development seems to be the recent launch of its Myriad soft tissue matrix for use in surgery.

“The September-December quarter remains, in our view, the timing for an inflection point of account conversion and improved sales momentum for both Myriad and distribution partner Tela Bio Inc.”

Aroa shares were trading at $1.22 on Wednesday afternoon, up 7% on the year. 

Bell Potter’s speculative price target is $2.

The post 3 ASX healthcare shares with big news coming appeared first on The Motley Fool Australia.

More reading

• 5 worst-performing ASX 200 healthcare shares of FY21
• Mesoblast (ASX:MSB) share price surges 5% in early trade today
• ASX 200 Weekly Wrap: Share market breaks 5 week winning streak
• These were the worst-performing ASX 200 shares last week
• Here’s why the Kazia Therapeutics (ASX:KZA) share price got a 6% boost today

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Damstra Holdings Ltd (ASX: DTC) share price is firmly in the green during mid-afternoon trade. This comes after the workplace management solutions company announced a multi-year contract extension with NBN Co Limited (nbn).

At the time of writing, Damstra shares are swapping hands for 84 cents, up 3.70%. In comparison, the All Ordinaries Index (ASX: XAO) is sitting at 7,596 points, up 0.9% for the day.

Damstra secures extended partnership

Investors are buying Damstra shares after the company provided a positive update to the ASX this morning.

According to its release, Damstra advised it has signed a multi-year Master Services Agreement (MSA) with its existing customer, nbn.

Under the contract, Damstra will continue to supply its dedicated workforce management platform, enAble to Australia’s national wholesale broadband provider. This will allow over 25,000 workers and contractors nationwide to have access to the specially designed and branded platform for nbn.

The enAble platform can perform a number of functions. This includes storing worker’s skills and competencies, hosting online training, and providing real-time information about nbn accreditations with auditing capability. In addition, the software ensures that all nbn employees and contractors have the required skills to carry out tasks.

Damstra plans to employ digital ID cards which will provide further processing efficiencies, allowing contractors to deliver nbn services faster.

The deal has an initial term of 3 years and includes three 1-year contract extensions (end date up until 2027). Damstra expects the total revenue over the full-life of the contract to generate up to $7 million. This is broken down to $5 million in monthly fees, and a variable $2 million on expected platform usage.

Damstra CEO, Christian Damstra commented:

We are very pleased to announce the signing of this MSA with nbn; already a valued customer of Damstra. We are proud of the work we have put into developing and evolving the enAble platform and this agreement clearly demonstrates the confidence nbn has in Damstra’s ability to provide critical services for their workers and contractors across Australia. We look forward to continuing the relationship with nbn for many years to come.

About the Damstra share price

It has been a turbulent 12 months for Damstra shareholders, with the company’s shares down almost 40%. The downfall began after Damstra reported its disappointing half-year results for FY21 in February.

Damstra has a market capitalisation of roughly $155 million, with approximately 186 million shares on its books.

The post Why the Damstra (ASX:DTC) share price is on the move today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Damstra Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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BHP Group Ltd (ASX: BHP) has been a solid performer on the ASX 200 in 2021, with the BHP share price rising over 13% so far this year.

After a solid first half to the year, investors will no doubt be keen to discover where analysts think the BHP share price will go from here.

What are leading brokers saying about the BHP share price?

Although the BHP share price is currently up 13% in 2021 to $48.73, a number of leading brokers believe it can still go higher.

Chief among them are the analysts at Goldman Sachs. A recent note out of the investment bank reveals that the broker has a buy rating on its shares. Furthermore, Goldman’s BHP share price target of $53.80 implies potential upside of 10.5% before dividends over the next 12 months.

And thanks to the strong free cash flow the mining giant is generating from favourable commodity prices, Goldman is very positive on the BHP dividend in 2021. It is estimating a fully franked dividend of $3.10 per share, which represents a very attractive 6.4% yield currently.

Goldman commented: “We retain our Buy rating on BHP on: (1): Strong earnings growth and FCF: We forecast a c. 50% increase in EBITDA and a doubling of FCF in FY21 (equating to c. 10-11% FCF yield), driven by our positive view on met coal, copper and oil prices. (2) Strong production growth: BHP’s group Cu Eq production should increase by 4-5% in FY22 and 6-7% in FY23, driven by a +250-270kt lift in copper volumes from Spence and Escondida, +10MMboe of oil volumes with new production from Mad Dog II/Atlantis Phase 3/Shenzi.”

Who else is positive on BHP?

Another broker that is bullish on the BHP share price is Macquarie. Its analysts have an even higher BHP share price target of $63.00. This represents potential upside of over 29% for BHP shares over the next 12 months.

And like Goldman Sachs, Macquarie is expecting the BHP dividend in 2021 to be very generous. It has pencilled in a fully franked $4.08 dividend per share, which equates to a massive 8.4% yield.

Macquarie notes that BHP’s iron ore operations are generating material free cash flow at current spot prices. It is expecting this to support solid shareholders cash returns in the near term.

UBS is sitting on the fence

One leading broker isn’t as positive, though. Analysts at UBS currently have a neutral rating and $42.00 BHP share price target. This implies potential downside of almost 14% over the next 12 months.

While it sees positives from potentially strong cash returns, it does have concerns over risks to the iron ore price. It suspects that a recovery in Brazilian supply and slowing Chinese demand could weigh on prices.

Nevertheless, the broker doesn’t expect this to stop BHP from paying a big dividend in 2021. It is forecasting a fully franked dividend of $3.58 per share, which represents a 7.3% yield.

The post Here’s what leading brokers are saying about the BHP (ASX:BHP) share price in July 2021. appeared first on The Motley Fool Australia.

More reading

• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• ASX blue chips set to unleash buybacks and dividends! But which is better?
• These high yield ASX dividend shares could be buys
• BHP (ASX:BHP) share price caught between bulls and bears in June
• Why this broker thinks the BHP (ASX:BHP) share price can storm higher

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today’s a good day for shares on the S&P/ASX 200 Info Tech Index (ASX: XIJ). Currently, the index is up 2.65%.

For comparison, the rest of the S&P/ASX 200 Index (ASX: XJO) is up 0.71% right now.

The tech index’s gains have seemingly been spurred by a strong night’s trade on the tech-heavy Nasdaq Composite (NASDAQ: .IXIC).

Let’s take a look at some of the ASX 200 tech shares reaping the rewards today.

5 ASX 200 tech shares flying higher today

Afterpay Ltd (ASX: APT)

Afterpay shares are performing solidly today, despite the company not releasing any news.

Right now, the Afterpay share price is 4.17% higher than it was at yesterday’s close. Shares in the ASX 200 buy now, pay later giant are swapping hands for $119.58.

Some brokers are bullish about Afterpay over the rest of 2021, and it looks like parts of the market are too.

Xero Limited (ASX: XRO)

The Xero share price is also gaining today. The company’s shares are up 4.08% at the time of writing, trading for $137.57.

The business and accounting software provider hasn’t announced anything new today either. But it’s also had brokers feeling bullish lately, with Goldman Sachs putting a $151 price target on Xero shares on Monday.

WiseTech Global Ltd (ASX: WTC)

Joining today’s high-flying ASX 200 tech shares club is Wisetech. And, once more, there’s been no news from the company.

The Wisetech share price has gained 3.9% today. The company’s shares are currently trading for $32.23 apiece.

While we haven’t heard much from Wisetech lately, brokers are continuing to feel positive about the cloud-based software provider. Morgan Stanley currently has an overweight rating and a $35 price target on the ASX 200 company’s shares.

Appen Ltd (ASX: APX)

The Appen share price is gaining 2.81% today, fetching $12.46 at the time of writing.

Appen develops data for machine learning and artificial intelligence.  

There’s been no news from Appen to explain its gains today. However, after it fell 5.9% yesterday, shareholders are likely to be relieved by today’s gains.

NextDC Ltd (ASX: NXT)

The NextDC share price isn’t soaring as high as the abovementioned ASX 200 tech shares, but it’s still up a respectable 0.93%.

The data centre operator’s shares are currently swapping hands for $11.96.

As The Motley Fool reported today, NextDC has been performing well lately and has been tipped as a buy by brokers.

The post These ASX 200 tech shares are beating the broader market today appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper 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 AFTERPAY T FPO, Appen Ltd, WiseTech Global, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Appen Ltd, WiseTech Global, and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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