I think that one of the most promising areas of the market to invest in at the moment is the tech sector.
In this area there are a good number of companies with the potential to grow strongly over the next decade and generate outsized returns for shareholders.
Three mid cap tech shares that I think are worth considering are listed below. Here's why I like them:
Bravura Solutions Ltd (ASX: BVS)
This leading provider of software products and services to the wealth management and funds administration industries has had a mixed year. Although its shares are up 12.5% year to date, they are down 32% from their 52-week high. I think this is a buying opportunity for long-term focused investors. This is due to its strong growth potential thanks to its Sonata wealth management platform and the recent acquisition of Midwinter for $50 million. The latter is expected to give it a new avenue for growth in an industry benefiting from structural tailwinds.
Megaport Ltd (ASX: MP1)
Another mid cap tech share to consider buying is Megaport. It is an elasticity connectivity and network services company. This service allows its users to increase and decrease their available bandwidth in response to their own demand requirements. This is proving popular with its customers as it means they don't need to be tied to fixed service levels on long-term and expensive contracts and can just use what they need, when they need it. It counts the likes of TAL, Uber, and Vodafone as customers.
Zip Co Ltd (ASX: Z1P)
A final mid cap tech share to consider is Zip Co. The fast-growing buy now pay later provider has been a strong performer over the last couple of years and looks well-placed to continue this positive form in FY 2020. Especially with the company announcing plans to enter the UK and US markets. This is expected to play a key role in the company achieving its target of almost doubling its active customer numbers and annualised transaction volume this year.
