With the market in the midst, at least so far, of yet another flat-to-down year, investors are starting to wonder which is the best investment route to take. One thing is for sure, almost all the top brokerages on Wall Street are still very positive on the large and mega cap stocks, with few overly bullish on the smaller cap counterparts.

For some time we have tracked the success of the UBS Quality Growth at a Reasonable Price (Q-GARP) portfolio, and for one very good reason. On a total return basis, since inception on May 31, 2007, the list has outperformed the S&P 500 by 67.5%, rising 129.5% versus a 62.0% gain for the S&P 500 index. The portfolio is built by using an initial quantitative screen of stocks based on: 1) quality metrics—high and stable profitability, 2) growth—high expected earnings growth, and 3) valuation— low valuation relative to peers. The final list is a compilation of quality growth stocks that the analysts at UBS believe are trading at attractive valuations.

We completed a first-quarter review and found four top technology companies in the portfolio that make good sense for more aggressive growth investors going forward.

Adobe Systems

This high-profile old-school software company was added to the Q-GARP list in February and also resides on the firm’s Equity Focus list. Adobe Systems Inc. (NASDAQ: ADBE) operates in three segments. The Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote and monetize their digital content.

The Digital Marketing segment offers solutions for how digital advertising and marketing are created, managed, executed, measured and optimized. This segment provides analytics, social marketing, targeting, media optimization, digital experience management and cross-channel campaign management solutions, as well as video delivery and monetization to digital marketers, advertisers, publishers, merchandisers, Web analysts, chief marketing officers, chief information officers and chief revenue officers.

The Print and Publishing segment offers products and services, such as eLearning solutions, technical document publishing, Web application development and high-end printing, as well as publishing needs of technical and business and original equipment manufacturers (OEMs) printing businesses.

Adobe is also reasonably safe route for investors looking to own a company with Marketing Automation product, which has become huge.

The Thomson/First Call consensus price target for the stock is $109. Shares closed on Friday at $94.07.

Alphabet

This technology giant is the top pick at UBS for 2016. Alphabet Inc. (NASDAQ: GOOGL), through its subsidiaries, builds technology products and provides services to organize the information. The company offers Google Search that provides information online; Google Now that offers information to users when they need it; AdWords, an auction-based advertising program; AdSense, which enables websites that are part of the Google network to deliver ads; DoubleClick Ad Exchange, a marketplace for the trading display ad space; and other advertising platforms, such as AdExchange and AdMob.

The company also provides YouTube, which offers video, interactive and other ad formats; Android, an open source mobile software platform; hardware products, including Chromebook, Chrome OS devices, Chromecast and Nexus devices; Google Play, a cloud-based digital entertainment store for apps, music, books and movies; Google Drive, a place for users to create, share, collaborate and keep their stuff; and Google Wallet, a virtual wallet for in-store contactless payments.

Google remains the undisputed leader in internet search, and when you add in a diverse portfolio, continued growth is not out of the question. YouTube watch time accelerated a massive 60% year over year, and the average view session was up 50% to 40 minutes. The YouTube surge represented the best growth in two years.

Many Wall Street analysts have lauded the numerous upcoming catalysts and point out that the company showed consistent revenue growth, margin stabilization and finally gave cash back in the form of a $5.1 billion stock buyback last year. Last, but certainly not least, the company remains one of the best overall portfolio plays that focuses on the biggest internet trends: The mobile/multi-screen shift, wearable devices, video, the Internet of Things and much more. Alphabet delivers investors the full package.

The company reported outstanding earnings that continue to astound by posting constant currency growth of 24%, and non-GAAP earnings that jumped 26% year over year. Top analysts cite YouTube, mobile growth and the stock buyback as continuing positives and reasons for owning shares.

The consensus price target is $926.82. The stock closed trading on Friday at $759.47.
Cognizant Technology Solutions

This tech stock is well-liked across Wall Street. Cognizant Technology Solutions Corp. (NASDAQ: CTSH) provides information technology (IT) consulting and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail and Logistics; and Other. It offers consulting and technology services, such as IT strategy, program management, operations improvement, strategy and business consulting services.

Though Cognizant is based in the United States, it primarily uses an offshore workforce in India. The company is well positioned for a variety of trends in IT services, and many expect it to increase earnings well in excess of the industry average. The company’s solid second-quarter results were broad-based. In addition the company raised second-half guidance, and it is a solid conservative technology holding to add to a portfolio.

The consensus price target is $69.52. The stock ended last week at $60.16.

Facebook

The huge social media leader has posted gigantic numbers that truly blew most of Wall Street away. Facebook Inc. (NASDAQ: FB) has Instagram, which some analysts see revenues tripling in 2017 as opposed to 2016, as well as Premium video and Graph Search capabilities to strengthen the company’s earnings flow. Top analysts have noted that Facebook and Instagram account for 5% of users’ total media time, but the company doesn’t come close to capturing 5% of total advertising budgets. Instagram advertising opened up in the fourth quarter. The company reported revenues for the December quarter that were 10% ahead of many Wall Street estimates.

Most Wall Street analysts point to the fact that Facebook remains the top beneficiary of the adoption of mobile internet trends, with total U.S. internet time spent on Facebook and Messenger. Other metrics continue to explode, and the key is there are no viable challengers anywhere in sight. The analysts cite positive monthly data use, easier growth comparisons and positive data on ad revenue drivers as the top catalysts. Facebook’s longer term opportunities are almost unmatched by its mega-cap consumer internet peers.

Analysts also remain bullish on Facebook Live, which was first rolled out only for iPhone users with verified accounts — a designation limited to journalists, celebrities and other public persons — but now anyone with an Android or iPhone can shoot live video from their phone, which can be viewed by Facebook users on any platform. To use it, you just go to the place where you would normally post a status update, but press the icon that shows a person inside a circle. It is yet another huge add-on for the social media market leader.

The consensus target price is $134.13, though that is bound to jump if first-quarter numbers top expectations. The shares closed Friday at $110.62.

There you have it, quality tech stocks at a reasonable price. While these are not for conservative accounts, they do make sense for long-term investors willing to have a technology presence in their portfolios.

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