One company which has caught the eye of investors today is IT services provider Empired Ltd (ASX: EPD). Its shares are up over 6% to 49.5 cents after being named 38th in Deloitte's 50 fastest-growing Australian tech companies
According to the report the company posted a 140% three-year growth rate. This is all the more impressive considering how competitive the IT services industry is. Fellow listed competitors include SMS Management & Technology Limited (ASX: SMX), RXP Services Ltd (ASX: RXP), Melbourne IT Limited (ASX: MLB), and ASG Group Limited (ASX: ASZ).
Although it is one of the smaller players in the industry with a market cap of $60 million, its impressive list of clients ranging from large corporations to government organisations has helped it grow at a strong rate.
The good news for investors is that the strong growth it has delivered in the past looks set to continue in FY 2017. The company has started the year in the strongest position in its history with record levels of contracted revenue.
Management has achieved this by strategically positioning the company in line with current growth trends.
Based on current forecasts Empired's shares are changing hands at just 11x estimated FY 2017 earnings, which I believe could make them great value now.
Although my preference in the industry is still RXP Services, Empired is definitely up there and deserves its spot in Deloitte's list.
