ASX Tech & Software Stocks
The ASX software complex — high multiples, recurring revenue, and where the bears disagree.
15 constituents · short positions as of · ASIC data, T+4 delay
Median short
1.82%
across 15 constituents
Most shorted
WTC
11.08% of issued capital
Biggest 4-week riser
WTC
+1.76pp in 4 weeks
Above 5% short
4
of 15 constituents
Theme short interest over time
Weekly average · shaded band is the constituent rangeConstituents
| Code | Company | Industry | Short % | Δ 4w | Price | Δ 1m | Days to cover |
|---|---|---|---|---|---|---|---|
| WTC | Wisetech Global | Software & Services | 11.08% | +1.8pp | $32.26 | -8.5% | 22.9 |
| SDR | Siteminder | Software & Services | 8.04% | +1.1pp | $2.65 | -8.3% | 18.5 |
| CAT | Catapult Sports | Software & Services | 7.00% | +0.3pp | $3.17 | +1.0% | 28.3 |
| XRO | Xero | Software & Services | 5.78% | +0.9pp | $57.79 | -22.2% | 9.8 |
| HSN | Hansen Technologies | Software & Services | 4.55% | +0.6pp | $3.35 | — | 10.1 |
| MP1 | Megaport | Software & Services | 2.98% | +0.1pp | $19.38 | +13.0% | 4.1 |
| IRE | Iress | Software & Services | 1.94% | +0.3pp | $5.44 | -4.6% | 3.5 |
| 360 | Life360 Inc. | Software & Services | 1.82% | -0.1pp | $19.53 | -2.5% | 4.8 |
| TNE | Technology One | Software & Services | 1.39% | -0.2pp | $30.38 | +4.2% | 5.5 |
| NXL | Nuix | Software & Services | 0.73% | -0.1pp | $1.715 | -7.5% | 3.0 |
| GTK | Gentrack Group | Software & Services | 0.46% | -2.3pp | $3.25 | -7.7% | 1.0 |
| OCL | Objective | Software & Services | 0.25% | -0.3pp | $5.77 | -5.9% | 1.2 |
| QOR | Qoria | Software & Services | 0.14% | -3.2pp | $0.23 | — | — |
| RDY | Readytech Holdings | Software & Services | 0.05% | -0.0pp | $1.255 | -19.0% | 1.5 |
| SKO | Serko | Software & Services | 0.00% | +0.0pp | $1.08 | -13.9% | 0.2 |
Membership is curated and verified against company metadata — a wrong member is worse than a missing one. Refine further in the screener.
Latest tech & software news
- Can Catapult Sports (ASX:CAT) Rebuild Momentum After Its Slide?
CAT · kalkine · 9 Oct 2026
- How Is WiseTech Global (ASX:WTC) Growing Its CargoWise Network?
WTC · kalkine · 9 Oct 2026
- Xero Limited Issues 207,792 Shares Through Restricted Stock Unit Conversions from June to September 2026
XRO · kalkine · 9 Oct 2026
- Does Xero (ASX:XRO) Chart Signal a Bearish Crossover?
XRO · kalkine · 9 Oct 2026
- Application for quotation of securities - WTC
WTC · asx · 8 Oct 2026
- Notification of cessation of securities - SDR
SDR · asx · 8 Oct 2026
- Cancel - Notification of cessation of securities - SDR
SDR · asx · 8 Oct 2026
- Notification regarding unquoted securities - XRO
XRO · asx · 8 Oct 2026
About this theme
ASX software carries some of the highest earnings multiples on the market, and a multiple is the part of a valuation a short seller can attack without disputing a single number in the accounts. The bear cases here are consistent in shape: growth decelerating as a product saturates its home market, net revenue retention slipping, capitalised development expense flattering reported profit, or an offshore expansion costing more than the revenue it wins. Because valuation is the thesis, these positions are sensitive to interest rates as well as to results — the same discount rate that justifies a premium multiple removes it. Reporting season is the pressure point in both directions: a downgrade from a highly rated name repices the sector, while an in-line result against a heavily shorted register can force a squeeze with very little stock available to buy.
Short positions come from official ASIC short position reports (published with a T+4 trading-day delay) joined with daily price and volume data. The chart averages the constituents reporting in each week and shades the range between the least and most shorted of them; a member with no data that week is absent from the average rather than counted as zero.