Is Pushpay (ASX:PPH) The Best ASX Tech Share?

May 28, 2019

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.

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Pushpay Holdings Ltd (ASX: PPH) has just been voted as a leading technology business, is it the best?

Pushpay is a New Zealand based donation systems and software business for religious, not-for-profits and education providers in the US, Canada, Australia and New Zealand. Pushpay is used by over 7000 churches worldwide. The average gift is $192.

What Happened With Pushpay?

Accounting giant PwC New Zealand has named Pushpay as its Hi-Tech Company of the Year for 2019 for the second time.

The judges liked Pushpay’s combination of metrics and mission and applauded that a Kiwi company was working in with both technology and generosity.

Previous winners include Datacom, Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) and Xero Limited (ASX: XRO).

If Pushpay can be as successful as Fisher & Paykel and Xero then it would turn out very well.

Pushpay Chairman Graham Shaw said: “We have a team of extremely hard working, talented and dedicated people and I am proud to work alongside them.”

Pushpay is certainly one of the growth shares on the ASX to watch. In its recent result it reported total revenue grew 40% to US$98.4 million and net profit increased by 181% from a loss of $23.3 million to a profit of $18.8 million.

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