Fast growing Canadian tech stocks

Canadian tech revival

Three of the fastest growing Canadian tech stocks.

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There’s much more to Canadian technology than BlackBerry. Several other domestic innovators are quietly raking in the cash, says Agilith Capital portfolio manager Patrick Horan. The S&P/TSX Capped Info Tech Index is up 31% for the last 12 months—far better than the overall market. Consider these three quickly growing cash cows. Fast growing Canadian tech stocks:

TOP PICK! SiriusXM Canada (TSX: XSR)

This Toronto satellite radio company­—which is not a subsidiary or even part of the U.S. SiriusXM—has an attractive 4.5% dividend that expanded by 20% in 2013, says Horan.

8.5: 2015 EV/EBITDA earnings

Mitel Networks (TSX: MNW)

This Ottawa-based global telecommunications firm, originally founded by Michael Cowpland and Terry Matthews, works with large corporations and recently merged with Europe’s Aastra.

6.8: 2015 EV/EBITDA earnings

CGI Group (TSX: GIB.A)

Despite a few bumpy months, this busy Montreal IT firm is generating tons of cash and buying back shares for the first time in a year. Horan expects shares to rise from $35 to $40.

6.7: 2015 EV/EBITDA earnings

EV/EBITDA is a ratio used to evaluate the value of a company (enterprise value) by taking debt into account. A low ratio indicates that a company might be undervalued