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The continuing adoption of cloud-based platforms and advanced technologies such as blockchain, machine learning, and artificial intelligence have been facilitating software companies’ provision of efficient services to their clients. This should keep driving the software industry’s growth. The global software market is expected to grow at a 7.2% CAGR to $823.71 billion by 2026.
Given this backdrop, we think it could be wise to bet on lesser-known software stocks SS&C Technologies Holdings, Inc. (SSNC), National Instruments Corporation (NATI), and American Software, Inc. (AMSWA) that are rated A (Strong Buy) in our proprietary POWR Ratings system. These stocks are well-positioned to outperform their bigger counterparts and the broader market.
