Tech Up as Traders Clamor for Software -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose as investors clamored for shares of software companies. Shares of Appian, which helps corporations develop digital applications, surged on its stock-market debut.

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"Software continues to 'eat the world' as more and more budget dollars are attributed for enterprises to digitally transform themselves," said analysts at brokerage Morgan Stanley, in a research note. "We see multiple avenues for software vendors to tap into this sizable opportunity--make software 1) easier to develop, 2) more capable of automating different types of work, and/or 3) cheaper to use."

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 25, 2017 16:39 ET (20:39 GMT)