The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of U.S. markets and pushed higher on Wednesday. In afternoon trade the index is up 0.35% to 5,861 points.
Four shares that are climbing more than most today are listed below. Here’s why they have surged higher:
The Altium Limited (ASX: ALU) share price has pushed almost 3.5% higher to $20.46 despite there being no news out of the software as a service company. Altium’s shares are likely to be rising after strong gains were made in the U.S. tech sector overnight. I think Altium is a great long-term investment option.
The BWX Ltd (ASX: BWX) share price has surged 3% to $4.94 after it emerged that the personal care product company’s CEO had been buying shares on-market. According to a change of director’s interest notice, John Humble picked up 164,754 shares at an average price of $4.859 per share on Friday. The company behind the Sukin brand has seen its shares fall 34% year-to-date after the release of a weaker than expected half-year result.
The Hub24 Ltd (ASX: HUB) share price has risen a further 3% to $11.00. On Tuesday the fintech company reported net inflows of $595 million for the March quarter. This was an increase of 42% on the prior corresponding period and increased the total funds under administration to $7.4 billion. One broker that was impressed with the company’s performance was Ord Minnett. It upgraded HUB24’s shares to a buy rating and lifted the price target on its shares to $11.85.
The Nextdc Ltd (ASX: NXT) share price has returned to trade and is up 2% to $6.96. The market has responded positively to the data centre operator raising $297 million through a placement of shares. Management advised that $147 million was raised through existing and new institutional investors at $6.81 per share and the remaining $150 million through a cornerstone placement with UniSuper at $6.98 per share. NEXTDC had set an underwritten floor price of $6.43 per share, but strong demand supported more favourable prices.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia owns shares of Altium. 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 Scott Phillips.