These popular ASX shares just raced to 52-week highs or better

With the market pushing higher today and edging closer to its 52-week high, it will come as no surprise to learn that several shares have just accomplished the same feat.

Three shares that have hit 52-week highs or better today are listed below. Here’s why they are scaling new heights:

The Bravura Solutions Ltd (ASX: BVS) share price hit an all-time high of $3.52 this morning. Bravura provides software solutions for the wealth management, life insurance, and funds administration industries. Its key product offering is the increasingly popular Sonata web-enabled administration solution. Demand has been so strong that Sonata has now become the biggest contributor to the company’s total revenue. Although its shares look fully valued now, I think the quality of the platform and its sizeable market opportunity could still make it worth considering a long-term investment.

The Duxton Water Ltd (ASX: D2O) share price climbed to an all-time high of $1.31 today. Investors appear to be betting on Duxton Water being a big winner out of the terrible droughts that much of rural Australia is experiencing. This is because it provides investors with direct access to water through Australian Water Entitlements, a key production input into a number of agricultural industries. I expect the company to benefit from high temporary water prices through the 2018/2019 water year, which could mean there is still decent upside for its shares.

The Nanosonics Ltd (ASX: NAN) share price has completed a remarkable turnaround and reached a 52-week high of $3.38 today. It was not that long ago that the infection control specialist’s shares plunged towards their 52-week low and had short sellers fighting to get hold of them. To this day it is still unclear what the short thesis was, but I think it is fair to say that it didn’t work out. But while I am a fan of the company and its technology, with its shares flying high, I’m going to hold off an investment until after its next results release.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia owns shares of Bravura Solutions Ltd. 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.

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