2 ASX shares at a golden buying opportunity right now

It's sale time! If you like buying your trousers at a discount, why wouldn't you do the same with stocks?

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It's bargain hunting season!

The S&P/ASX 200 Index (ASX: XJO) is down more than 6% this year. But with the mining sector carrying the market, most stocks have actually tumbled much more than that.

So which quality shares are selling for a heavy discount at the moment?

Here are a couple of suggestions.

Ready, set, go!

People management software provider ReadyTech Holdings Ltd (ASX: RDY) has seen its valuation shrink 14% so far this year. It's been a 22% drop since its high in early November.

And it's not just a general shift away from growth stocks that it can blame, according to Wilsons investment advisor Peter Moran.

"The share price of this software-as-a-service business has fallen significantly in the past three months due to missing out on a government licensing project," he told The Bull.

But he added that this means now is the perfect opportunity to buy ReadyTech shares.

"ReadyTech has a strong track record of profitability and can still be expected to generate double-digit earnings growth for at least the next few years," said Moran.

"We hold an overweight rating."

He's not the only one who thinks this. According to CMC Markets, all five analysts covering ReadyTech rate the shares as either "strong buy" or "moderate buy".

An old favourite that won't let you down

Healthcare giant CSL Limited (ASX: CSL) is Moran's other tip to buy right now.

Its shares are going for close to its 52-week low currently, after tanking almost 14% this year. It has lost almost 20% of its valuation since late November.

The Wilson team thinks it can only head up from here.

"The pandemic negatively impacted the company's core plasma collection business," Moran said.

"Performance is steadily improving amid increasing demand for CSL products. Also, the company has a pipeline of new products."

Moran also likes CSL's recent $17.2 billion takeover of a European business.

"The recent acquisition of pharmaceutical company Vifor Pharma, which specialises in renal disease and iron deficiency, should provide additional growth streams," he said. 

"We hold an overweight rating."

CSL is currently a favourite of many analysts. 

IML Investors Mutual urged investors to pick up the shares a fortnight ago, and SGH Medical Technology Fund portfolio manager Rory Hunter told The Motley Fool this week it was one of its two biggest holdings.

Motley Fool contributor Tony Yoo owns CSL Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. and Readytech Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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