On Monday the All Ordinaries index started the week in a positive fashion with a 0.3% gain. This leaves the index trading within sight of its all-time high.
Three shares that are a step ahead of the index and hit an all-time high of their own yesterday are listed below. Here’s why they are on a high:
The Bigtincan Holdings Ltd (ASX: BTH) share price hit a record high of 69 cents on Monday. Investors have been buying the AI-powered sales enablement automation platform provider’s shares since the release of a strong quarterly update last week. Bigtincan reported a 56% increase in customer cash receipts to $5.3 million. Also catching the eye of investors were a couple of new Fortune 500 customers – Nike and Wyndham Destinations. Looking ahead, management believes it is on track to deliver 30-40% organic revenue growth in FY 2020.
The CSL Limited (ASX: CSL) share price continued its positive run and reached an all-time high of $262.00 yesterday. The biotherapeutics company’s shares have been on fire this year thanks to its impressive performance in FY 2019 and positive start to the new financial year. One key catalyst for this strong form is increasing demand for immunoglobulins and a shortage in supply. The rollout of plasma collection centres has allowed the company to benefit greatly from this tailwind.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price pushed higher and hit a record high of $9.00 on Monday. The airport operator’s shares have been strong performers this year thanks to increasing demand for bond proxies in a low interest rate environment. And it isn’t hard to see why. Although the Sydney Airport share price is up 35% this year, its shares still provide a yield of almost 4.3%. Pleasingly, a recent uptick in domestic travel and solid international growth looks to have positioned the company for further income and dividend growth in FY 2020.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO and Sydney Airport Holdings Limited. 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.