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DUG Technology Ltd ASX:DUG

1 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 5 managers in total.

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202420252026

30 Aug 2025 to today

Commentary Showing 2 of 11

DateManagerActionSummary

30 Sep 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold DUG Technology Ltd, whose shares declined 33.3% during the September 2026 quarter. The manager notes the fall occurred despite an excellent industry backdrop and the company securing a second large contract. Investors Mutual attributes the decline to the company seemingly communicating its shifting business mix poorly to the market. The commentary does not indicate a change to the size of the position in the high-performance computing and geoscience services provider.

Quarterly Report, price recorded $1.60

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31 Aug 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold DUG Technology without change, noting the stock fell 18.7% after investors were disappointed by its services order book, despite a strong FY26 result and two major contract wins with national oil companies. The manager views the services order book as less relevant given an increasing focus on higher-margin software and high-performance-compute sales, and considers the negative share price reaction unwarranted relative to the underlying business trajectory.

Monthly Report, price recorded $1.65

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9 more comments on DUGPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 5 managers first commented on DUG.

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Articles

31 May 2026DUG Technology: Seismic Imaging Software Wins Over Oil and Gas Majors

About DUG Technology Ltd

Information Technology, Software

DUG Technology (ASX:DUG) provides high-performance computing and seismic imaging services, and fund managers see value in its shift toward software. In August 2026, Investors Mutual noted the shares fell almost 19% after investors were disappointed by the services order book, despite a strong FY26 result and two major contract wins with national oil companies. Perennial Partners added that a subsequent clarification of contracted revenue corrected the perception of falling orders. DUG Technology operates in the Information Technology sector within the Software industry, and Thesis Tracker has captured 9 comments from 5 fund managers, including Investors Mutual and Perennial Partners. Founded in 2003 and headquartered in Perth, DUG provides high-performance computing as a service, geoscience software and seismic data processing and imaging, serving energy companies and research institutions.

Market cap: $210m
Price to earnings: 86.9x
Return on equity: 5.4%
Dividend yield: 0.0%
Price to book: 3.09x
Net margin: 2.1%
52-week range: $1.51 to $2.79

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in DUG Technology Ltd (ASX:DUG)?

Fund managers including Cerutty Macro Fund, Ausbil Investment Management, 1851 Capital, Perennial Partners and Investors Mutual Limited have invested in DUG Technology Ltd (ASX:DUG).

What opportunities or catalysts do fund managers highlight for DUG Technology Ltd?

Investors Mutual believes the services order book is becoming less relevant as DUG focuses on higher-margin software and high-performance computing. Perennial highlights continued global demand for DUG's MP-FWI imaging technology, results ahead of expectations and new contracts with national oil companies.

What are the key risks to the DUG Technology Ltd investment thesis, according to fund managers?

Fund managers note the share price is sensitive to quarterly updates and order book reporting, with Perennial recording falls of around 19% after softer-than-expected quarterly numbers. Seasonality, with September typically the weakest quarter, and exposure to oil and gas exploration spending add volatility.

What does DUG Technology Ltd (ASX:DUG) do?

DUG Technology Ltd. is an Australian-headquartered technology company providing high-performance computing as a service (HPCaaS), specialized software, and scientific data analysis services. Founded in 2003 by Matthew Lamont and Troy Thompson, DUG serves the global technology and resources sectors. The company delivers scalable computing solutions and data analytics expertise, enabling organizations to process large-scale scientific datasets efficiently. Headquartered in West Perth, DUG Technology Ltd. focuses on developing innovative software and infrastructure, supporting technical operations for clients worldwide.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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