Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

3 Lesser-Known Software Stocks Rated Strong Buy

Published 09/07/2021, 12:07 PM
Updated 09/07/2021, 01:31 PM
© Reuters.  3 Lesser-Known Software Stocks Rated Strong Buy

© Reuters. 3 Lesser-Known Software Stocks Rated Strong Buy

As a pandemic-driven fast-paced digitization continues to change the way businesses operate worldwide, the software industry has witnessed exponential growth. Since several industry sectors are now heavily reliant on data storage, data insights, and other cloud-based software solutions, we think it could be wise to bet on relatively lesser-known software stocks SS&C Technologies (SSNC), National Instruments (NASDAQ:NATI), and American Software (NASDAQ:AMSWA). They are well-positioned to outperform industry leaders in the near term. So, read on.The COVID-19 pandemic has accelerated the growth of the software industry as stay-at-home restrictions increased general reliance on digital platforms. An increasing use of data storage, data analytics, automation, and other cloud-based solutions by small and large enterprises has helped the software industry achieve solid growth over the past year.

The continuing adoption of cloud-based platforms and advanced technologies such as blockchain, machine learning, and artificial intelligence have been facilitating software companies’ provision of efficient services to their clients. This should keep driving the software industry’s growth. The global software market is expected to grow at a 7.2% CAGR to $823.71 billion by 2026.

Given this backdrop, we think it could be wise to bet on lesser-known software stocks SS&C Technologies Holdings, Inc. (SSNC), National Instruments Corporation (NATI), and American Software, Inc. (AMSWA) that are rated A (Strong Buy) in our proprietary POWR Ratings system. These stocks are well-positioned to outperform their bigger counterparts and the broader market.

Continue reading on StockNews

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.