The Best UK Tech Stocks to Buy Now

2. Darktrace

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Darktrace has been on analyst radars multiple times over the past year, even making it onto our monthly list of the best stocks and shares in both November and June.

The simple reason for this is that Darktrace is one of the most well-known companies in the entire tech sector.

Crucially, the business’s focus on artificial intelligence (AI) and machine learning allows the software to adapt and detect cyber threats and attacks, and prevent them in real time.

Darktrace had made its way onto the FTSE 100 in November 2021 and now sits on the FTSE 250, making it one of the largest companies in the UK, let alone the tech sector.

Shares opened at 339 pence on 14 July 2022.

Source: CMC Markets

3. deliveroo

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Even 10 years ago, the idea of e-commerce food delivery might have seemed impossible. But now, companies like Deliveroo are household names, well-known for their ability to bring whatever takeaway you want straight to your door.

A London-based business that started out in 2013, the company now operates in more than 200 locations, spanning as far as Singapore, Hong Kong, and Australia.

Tech has obviously been central to Deliveroo’s success, creating an attractive, easy-to-use interface that connects businesses and consumers.

Shares currently trade at a significant discount from when they came to market in 2021, down from 282 pence to just 91 pence as of 14 July 2022. No doubt the rising cost of food has harmed sales for many restaurants, with a knock-on effect to Deliveroo’s bottom line.

Even so, placing an order of Deliveroo shares at this price could be a tasty addition to your portfolio.

Source: IG

4. Kainos Group

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A constituent of the FTSE 250 with a market cap of £1.42 billion as of 14 July 2022, Kainos Group develops solutions that help businesses transition into the digital age.

Using AI and cloud computing, Kainos seeks to help companies streamline operations and become more efficient using technology.

The business, headquartered in Belfast, Northern Ireland, traded for £11.44 when the market opened on 14 July.

So, want to streamline your portfolio? An investment in Kainos could be the solution.

Source: The Motley Fool

5. Keyword Studios

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Once providing localisation services for businesses, Keyword Studios is now known for providing support services to companies in the video games industry.

Unlike the majority of the companies on this list, Keyword Studios is listed on the AIM (Alternative Investment Market), the “junior market” of the London Stock Exchange.

In fact, we even included Keyword Studios on our list of the 10 best AIM stocks to watch in 2022.

Companies on this smaller market tend to be more volatile than those listed on major exchanges. So, be prepared for potentially greater volatility in your investment.

Regardless, an investment in Keyword Studios could still be a winner for you. Shares opened at £21.60 on 14 July 2022.

Source: AIM-Watch

6. Ocado

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Ocado, the online grocery delivery business, has gone from strength to strength over the past few years, in great part thanks to its embracing of new technology.

Indeed, the company uses robots to pick goods ordered online in automated warehouses, eliminating the need for individuals to do this.

Additionally, the Ocado Smart Platform, the company’s proprietary suite for grocery businesses, is an in-house project designed to make its customers more efficient and flexible, improving margins as a result.

There have been two significant peaks in share prices over the past couple of years, hitting £28.19 on 25 September 2020 and £28.08 on 5 February 2021, as Covid-19 lockdowns drove shoppers online.

However, prices have since softened and, as of market open on 14 July 2022, you can pick up shares in Ocado for 808 pence.

Source: IG

7. Rightmove

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Another alumnus of our monthly best stocks and shares list, Rightmove has used technology to add a greater level of efficiency to the homebuying process.

Rightmove’s user-friendly website has seen prospective movers flock to it, offering access to a range of properties from different estate agents under one roof.

Shares surged to an all-time high of 795 pence on 31 December 2021, as pent-up market demand and the so-called “race for space” saw record sales in the wake of pandemic lockdowns.

But, with these short-term boosts out the way, the price has now softened to 590 pence, as of market open on 14 July 2022.

Source: The Motley Fool

8. Sage Group

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You may well have personal experience with Sage Group’s products, either as a business owner relying on them for accounting and payroll, or as an employee viewing your payslip online.

A software as a service (SaaS) business, Sage’s model to sell subscription-based software means the company has recurring revenue, especially as customers become dependent on the software company to be able to continue functioning as normal.

The Newcastle-based business’s shares opened at 664 pence on 14 July 2022, a significant discount from the all-time high of 852 pence on 31 December 2021.

Source: Asktraders.com

9. Shearwater Group Plc

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Shearwater is another stock to have made it onto our July list of the best shares to buy now thanks to its impressive credentials, and is an unmissable inclusion on a list of the best UK tech stocks.

Another cybersecurity firm, Shearwater provides crucial security measures for corporate clients, helping to protect them against the dangers that large businesses face in an increasingly digital work environment.

Perhaps the biggest benefit of an investment in Shearwater is its relatively cheaper share price compared to other cybersecurity firms in the market, opening at 131 pence on 14 July 2022.

This may mean Shearwater offers a lower barrier to entry into cybersecurity investing, while also having plenty of room for strong growth.

Source: Investors’ Chronicle

10. Wise

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Formally trading as “TransferWise”, Wise allows customers to convert their money into different currencies and send it around the world.

The service is incredibly popular, boasting around 10 million customers. In fact, I found Wise to be one of the best money transfer apps when I reviewed the different options available across the market.

The company only had its initial public offering (IPO) in the summer of 2021, debuting on the London Stock Exchange at 965 pence. However, prices have since fallen to just 329 pence since writing this guide.

Despite this drop in value, Wise continues to be popular with its customer base thanks to low fees and fast transfer times. As a result, it may be positioned for growth down the line, making it a suitable investment for you now at a reasonable price.

Source: CMC Markets