In the last few years, the UK tech sector has flourished due to an increase in demands for products and services within e-commerce, cybersecurity, Software-as-a-service (SaaS), and Artificial Intelligence subsectors.
Various tech unicorns grew manifolds between 2010 and 2020. During the pandemic, many FTSE tech stocks got a lot of attention as there were a number of significant IPOs listing on the London Stock Exchange, including, Darktrace (LON:DARK), Deliveroo (LON:ROO), Wise Plc (LON:WISE) and Trustpilot (LON:TRST), despite pandemic disrupting most sectors and industries.
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The UK is the third country to surpass the US$1 trillion valuation after China and the US in the field of tech.
Let us look at the top 5 FTSE-listed top tech stocks.
- Halma Plc (LON: HLMA)
Halma Plc is engaged in the operations and manufacturing of products in the field of protection services, safety, medical equipment, and lifestyle enhancement. The company has recently announced the acquisition of Deep Trekker, which is a market-leading manufacturer of remotely operated underwater robots for a cash consideration of around £36 million.
- Sage Group Plc (LON: SGE)
Sage Group Plc is a multinational enterprise software company engaged in providing accounting and business management software. The company recently reported revenue at £934 million in H1 2022, as compared to £937 million in H1 2021. It reported strong organic recurring revenue growth of 8%.
- AVEVA Group Plc (LON: AVV)
AVEVA Group Plc is a multinational information technology consulting company that offers operational industrial software, with engineering software. The company achieved 18% revenue growth in Q4 on pro forma organic constant currency basis, driven by exceptional performance from PI System. It has also reported that it will drive an acceleration in ARR growth in FY23 to a level of 15% to 20%.
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- Avast Plc (LON: AVST)
- Spectris Plc (LON: SXS)
Spectris Plc is an instrumentation company, which provides instruments, test equipment and software for industrial applications. The company has recently entered into a purchase agreement to acquire Dytran Instruments for £66 million.
Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.