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16 of The Most Promising Canadian Tech Stocks

Melisa R. H. Posted On January 24, 2019
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Canadian tech is thriving, and we’ve heard lots of experts talk about Shopify and OpenText. A rally in tech stocks is expected in 2019.

Here are 16 Canadian tech stocks you should consider adding to your portfolio.

💻 Technology

CGI Group (A) (GIB.A-T)

CGI Group (A) (GIB.A-T) — Stockchase
CGI Group (A) (GIB.A-T) — Stockchase

Opinion about GIB.A-T: Global operations; with Canada representing ~15% of revenue, US ~30%, 44-45% in Europe and UK. Outsourcing (~55% of the business) has long-term contracts, so that's defensive and not as cyclical. Consulting side tends to be more economically sensitive. Stock's pulled back ~17% from highs in February. About 14% of revenue is from doing…

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Tucows Inc. (TC-T)

Tucows Inc. (TC-T) — Stockchase
Tucows Inc. (TC-T) — Stockchase

Opinion about TC-T: Sold because its ROIC returns started to get a bit wonky. In fact in last 3 years, ROIC has been negative. Satellite internet access has eaten the lunch of fibre. Hard to form a moat around its domain business. Wait for ROIC to be in excess of 20% for at least 3…

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Constellation Software Inc. (CSU-T)

Constellation Software Inc. (CSU-T) — Stockchase
Constellation Software Inc. (CSU-T) — Stockchase

Opinion about CSU-T: A rather mysterious and opaque company. Well held, well owned, and people hold onto it for dear life. Massive compounder of 36,000% since the IPO in 2006. Acquires mission-critical, vertical market (narrow of scope -- such as an operating management system for a vet clinic or daycare or golf course) software companies. Tuck-in…

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Shopify Inc. (SHOP-T)

Shopify Inc. (SHOP-T) — Stockchase
Shopify Inc. (SHOP-T) — Stockchase

Opinion about SHOP-T: Fine job in utilizing AI, becoming more efficient. Cosmetics and clothing are two of its bigger channels, and these are among the easiest to switch supply chains. This makes those segments relatively less impacted by trade and tariff volatility. No dividend. (Analysts’ price target is $159.57)

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Descartes (DSG-T)

Descartes (DSG-T) — Stockchase
Descartes (DSG-T) — Stockchase

Opinion about DSG-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research Its customers are facing difficulty with making decisions given the uncertain trade environment. We think that it will see increased uncertainties in sales and earnings guidance, but largely, it has navigated challenges well in the past (2020) and we would be comfortable…

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Celestica Inc (CLS-T)

Celestica Inc (CLS-T) — Stockchase
Celestica Inc (CLS-T) — Stockchase

Opinion about CLS-T: Not in his fund, but in separately managed accounts. Fantastic job on the supply side. 12-month price target of $199. If you own it, hold on. Add around $148, and another 1/3 around $140.

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Kinaxis Inc (KXS-T)

Kinaxis Inc (KXS-T) — Stockchase
Kinaxis Inc (KXS-T) — Stockchase

Opinion about KXS-T: An excellent tech company, one of the few tech stocks up this year because their products are in demand now. Margins are already improving. Will announce a new CEO soon which will be another catalyst. They have the best technology but sales execution was weak, but they can fix this. Is a…

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Baylin Technologies (BYL-T)

Baylin Technologies (BYL-T) — Stockchase
Baylin Technologies (BYL-T) — Stockchase

Opinion about BYL-T: Notoriously volatile. BYL has had a rough ride in recent years, but has fixed their balance sheet after selling their money-losing mobile business based in Korea. Are now focused on embedded antennas, infrastructure and satcom. They just announced a big stadium deal in South American for their wireless antennas, in which they…

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Pivot Technology Solutions Inc. (PTG-T)

Pivot Technology Solutions Inc. (PTG-T) — Stockchase
Pivot Technology Solutions Inc. (PTG-T) — Stockchase

Opinion about PTG-T: Payout ratio is 56%. Sales are declining by 25% and earnings have fallen by 67%. He would be cautious and would look elsewhere. Yield 13%

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Absolute Software Corp. (ABT-T)

Absolute Software Corp. (ABST-T) — Stockchase
Absolute Software Corp. (ABST-T) — Stockchase

Opinion about ABST-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. The stock drifted along under $12 through 2022 to August when it moved up to about $16 which held to the start of November when it fell to its month-end close of $13.24. ABST is a leading provider of self-healing endpoint and…

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The Stars Group Inc (TSGI-T)

The Stars Group Inc (TSGI-T) — Stockchase
The Stars Group Inc (TSGI-T) — Stockchase

Opinion about TSGI-T: (A Top Pick May 29/19, Up 66%) He sold out previously. He liked the 5 year forecast. As we came into late last year some of the volatility in the stock was not what he was interested in so he exited. He believes they will be stronger going forward.

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Intrinsyc Software Inc (ITC-T)

Intrinsyc Software Inc (ITC-T) — Stockchase
Intrinsyc Software Inc (ITC-T) — Stockchase

Opinion about ITC-T: They sold their position due to the inconsistency of their results. He is watching it again, especially now that the momentum is improving. He is not buying yet, but will keep an eye on it.

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Bewhere Holdings Inc (BEW-X)

Bewhere Holdings Inc (BEW-X) — Stockchase
Bewhere Holdings Inc (BEW-X) — Stockchase

Opinion about BEW-X: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research The stock is now flat for the week; the white paper outlines the opportunity in low power IOT technology, but this is not really new news. Following the stock's big rally in the past year, we would consider it a HOLD. With…

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Open Text (OTEX-T)

Open Text (OTEX-T) — Stockchase
Open Text (OTEX-T) — Stockchase

Opinion about OTEX-T: Really active with M&A through pandemic. Recent sale of a business. About 30% upside to target from here. Very involved in EIM software, leader in Canada. Buy 1/3 here around $36, another ~$33, final ~$31. (Analysts’ price target is $49.00)

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Photon Control (PHO-X)

Photon Control (PHO-T) — Stockchase
Photon Control (PHO-T) — Stockchase

Opinion about PHO-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Smaller, cyclical company. Rolling out new products. Share buyback potential. Fortunes tied to semiconductor industry.

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🛍 Consumer

Great Canadian Gaming Corp (GC-T)

Great Canadian Gaming Corp (GC-T) — Stockchase
Great Canadian Gaming Corp (GC-T) — Stockchase

Opinion about GC-T: Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Takeover offer. Pandemic hit hard. Solid assets, but re-opening slowed. Healthy balance sheet.

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