9 Best Performing Tech Stocks On The Johannesburg Stock Exchange
The Johannesburg Stock Exchange has seen a mixed bag of success and failure for tech stocks over year ending June 30, with some companies managing to provide positive returns for investors while others fell out of favor and lost value.
Nine tech stocks in particular did well.
While big names such as MTN, Telkom and Blue Label Telecoms lost value over the period, tech stocks such as Vodacom and Naspers grew their valuations on the JSE.
Here are the 9 best performing tech stocks on the Johannesburg Stock Exchange.
The fiber optic-cable manufacturing company with a trading code of RLO was able to emerge from the last year in the black, seeing gains of 2.9 percent during 2017, as well as 8.5 percent over the course of the last 12 months.
The strategic acquisition tech firm outperformed Blue Label Telecoms, Telkom and Adapt IT, growing the company by a staggering 45.5 percent over the last 12 months and by 3.9 percent year-to-date.
Electrical equipment supplier Ellies Holdings was another tech stock performing well on the Johannesburg Stock Exchange, with the company experiencing 10 percent positive growth since January, and growth over the last year amounting to 26.9 percent.
Datatec’s share price on the Johannesburg Stock Exchange has risen 13.5 percent since January, with most gains arriving in June after the sale of U.S. subsidiary Westcon-Comstor’s operations in North America and Latin America to U.S.-based Synnex for around $830 million.
The share price of computer manufacturing company Alviva, formerly known as Pinnacle Holdings, has risen along with growth prospects due to disposals and acquisitions of assets. The company experienced 17.2 percent year-to-date growth, as well as 39.3 percent growth over the 12-month period.
While MTN saw its shares fall by 2.7 percent so far this year, competitor mobile operator Vodacom has seen gains rise to 20.7 percent so far for 2016 and 15 percent over the last 12 months, thanks in part by strong customer additions as they welcomed three million new subscribers in South Africa.
Africa’s largest company continues to provide good news for its shareholders while attracting new investors with ease. The year has been kind to the media giant thus far, with gains of just under 40 percent revealing the group’s excellent performance on the South African exchange.
MiX Telematics, founded in 1996 in South Africa, is a global provider of driver safety, vehicle tracking and fleet management services and solutions in over 120 countries including the U.S., Brazil, Australia, and the United Arab Emirates. The tech company’s stock grew by 61.5 percent on the Johannesburg Stock Exchange over the last year.
Honors for the top performing of the JSE tech stocks go to Altron, rising 52.2 percent since January based on shareholder optimism that the group, which is recovering from a share price that fell sharply in recent years, is headed in a positive direction under new CEO Mteto Nyati.
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