Technology One Limited (ASX: TNE) shares have been quietly climbing higher in November. The group's shares are up 24.15% this month and closed trading at $9.15 per share yesterday afternoon.
These strong capital gains put the Technology One share price right up there with the best ASX 200 stocks in November.
So, is the Technology One headed higher in December and should you be getting your piece?
Why Technology One shares have jumped in November
It's been an unusual year for Technology One shares, which climbed as high as $9.40 per share before plummeting 31.10% to $7.17 in the space of a week.
That hasn't been the case in November as the group's share price climbed higher on a strong full-year result.
FY19 net profit came in at $76.4 million with revenue of $286 million for the year ended 30 September 2019.
It was a solid result for a company that has been up and down throughout this year. This was in stark contrast to May's half-year result, which saw the group's shares plummet lower.
The company's software-as-a-service (SaaS) business has been growing strongly and I think the FY19 result surprised investors after a weak second half outlook in May.
Is December the time to buy?
Despite the strong performance in November, I think Technology One shares remain an uncertain option.
The software group has been boosted by the success of the sector as a whole in the last decade or so. While Technology One is well-established, I think there could be further growth potential elsewhere on the ASX.
I personally would be looking at a company such as Nearmap Ltd (ASX: NEA) if you want tech growth in December.
Nearmap shares are trading at $2.79 per share and could be good value if they can climb towards their $4.29 52-week high in the next few months.
Nearmap has a market cap of $1.26 billion compared to Technology One's $2.91 billion valuation.