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A better work-life balance and productivity, higher average annual income, and higher job retention have driven workers and organizations to opt for remote/hybrid work and lifestyles. Businesses are spending billions of dollars on software to upgrade and improve their business processes. As such, the global software market is expected to reach $823.71 billion by 2026, registering a 7.2% CAGR.
These factors have heightened investor optimism about the software industry, which is evident in the iShares Expanded Tech-Software Sector ETF’s (IGV) 19.5% returns over the past year. So, we think it could be wise to bet on quality mid-cap software stocks Endava plc (DAVA), Amdocs Limited (DOX), and Datto Holding Corp. (MSP). They are currently trading below their 52-week highs and could witness significant upside in the coming months.
