The Objective Corporation Limited share price just hit a 52-week high

The Objective Corporation (ASX:OCL) share price has gained nearly 70% over the past year

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The Objective Corporation Limited (ASX: OCL) share price has surged to a fresh 52-week high today at $2.75, up from a previous high of $2.55. The OCL share price has since retreated marginally but is still trading at $2.68.

What Happened?

Objective Corporation describes itself as a specialist provider of content, collaboration and process management solutions, enabling businesses and organisations to enhance their own digital transformation and make better use of their information.

The company reported a 33% lift in revenue during the six months ended 31 December 2016 to $30.3 million, while its net profit after tax (NPAT) lifted 156% to $3.7 million.

More recently, Objective provided an update on what investors should expect when the company reports its full-year results in August. The company expects to report revenue of $62 million, up 25% compared to FY2016, with earnings per share expected to rise 55% to 9 cents per share. That's up from 5.8 cents per share last year.

Meanwhile, Objective also announced that it had significantly improved its cash position, boasting $17 million of cash on the balance sheet at the end of June. That was up from $12.5 million the previous year.

Now What:

The Objective Corporation share price has now risen almost 49% since the beginning of the year, and more than 68% over the past 12 months. Despite that strong surge, Objective Corp could still be worth the attention of long-term investors.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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