While there are not as many as in the United States, Canada has several high-quality tech stocks. In fact, several have become global leaders.

Yet, Canadian tech stocks often trade off the radar of global investors. Periodically, this disconnect is translated in the market and you can get Canadian tech stocks at attractive valuations.

Certainly, today the market is not cheap, and neither are tech stocks. However, if there is a substantial stock market pullback in 2025, here are three Canadian tech stocks I would be buying.

A tech stock with a multitude of software companies

Constellation Software (TSX:CSU) has to be at the top of the Canadian tech sector wish list. The company has delivered strong performance. Its stock is up 38% in 2024, 245% in the past five years, and 24,297% since its initial public offering (IPO) in 2006!

Constellation owns and acquires mission-critical, niche market software. This software tends to be economically resilient and cash-generative. Constellation yields the cash and buys more companies.

The software firm has a highly invested management team and strong shareholder focus. It has never issued equity since its IPO. Constellation still has a large market to consolidate.

Returns could temper in the years ahead, but they are still likely to be very good. After a good run, CSU stock is not a bargain price. It trades for 29 times free cash flow. However, it will be a good buy if there is any material 10–15% pullback in the market in 2025.

A high-quality Canadian stock

Descartes Systems (TSX:DSG) is another high quality tech stock I would be actively buying in a 15–20% market pullback. Its stock is up 51% in 2024, 190% in the past five years, and 11,995% in the past 20 years.

Like Visa is for consumer payments, Descartes provides a similar global network for the logistics and transport sector. Once adopted, its trade network becomes essential to its customers.

Descartes has an array of software services that complement its network. These help logistics companies save time, money, and effort and become crucial to efficiently managing their businesses.

Descartes is another successful serial acquirer. With a cash rich balance sheet, it continues to have a good runway to deploy capital into attractive opportunities.

Much of this optimism is amply reflected in the stock price today. It trades for 36 times free cash flow. That is at the high end of its valuation range. At some point, this stock will pull back, and that would be a great time to buy.

A healthcare tech stock

If you want a tech stock in the early phases of its growth trajectory, VitalHub (TSX:VHI) is intriguing. Like the others, it has had a strong run this year. Its stock is up 171% in 2024, 250% in the past three years, and 464% in the past five years.

VitalHub provides healthcare software solutions focused on patient flow/management, operational streamlining, and workforce management. Almost every healthcare system around the world is stressed by high demand and limited resources.

VitalHub helps health systems become more efficient and effective. Many health software systems are antiquated and ripe for disruption. This could provide many years of organic growth ahead.

Like the two stocks above, VitalHub has been a serial acquirer. The company has used equity to help it grow. It has been issuing equity at a high valuation to buy businesses at lower valuations.

While I don't like the equity dilution, so far it has been accretive to shareholders. It's not a cheap stock and it is a small cap, so pick it up on volatility.