Insights

This ASX 200 share has notched up 5 record highs this month

September just keeps getting better and better for this tech solutions company.
The post This ASX 200 share has notched up 5 record highs this month appeared first on The Motley Fool Australia. –

We’re only 8 days into the new month and one ASX 200 share has already beaten its own record high a whopping 5 times.

That’s particularly impressive considering the S&P/ASX 200 Index (ASX: XJO) has fallen 0.33% so far this month.

Additionally, the overachieving stock has seen its share price gain 17% since August’s end.

So, which ASX 200 share is behind such a remarkable performance? Let’s take a look.

Which ASX 200 share is setting records in September?

The TechnologyOne Ltd (ASX: TNE) share price has started September with a bang.

Last Wednesday it hit a record high, reaching $10.31 in intraday trade after announcing a new acquisition. It bested that figure on Friday when it reached $10.52.

This week, it surpassed its brand new record on Monday before besting Monday’s record on Tuesday.

Now, it has a brand new record high of $11.61, which it hit in intraday trade today.

The enterprise software-as-a-service company has called the ASX 200 home since 2014.

Last week TechnologyOne announced it has acquired the UK-based higher education timetabling and resources scheduling software provider Scientia.

TechnologyOne expects the acquisition will cost around $22 million (converted from pound sterling at the current exchange rate), with an initial payment of around $11 million.

TechnologyOne isn’t the only ASX 200 share hitting record highs today.

The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price broke its previous record high when it traded for $38.37 earlier today. While it’s been quiet today, Soul Patts did release a trading update on Monday, which might be spurring its gains.

Additionally, Aristocrat Leisure Limited‘s (ASX: ALL) stock surpassed its previous best today when it hit $47.91. As The Motley Fool reported yesterday, the ASX 200 gaming giant’s day in the green might be being spurred by its online gaming business, which has been relatively unaffected by COVID-19 lockdowns so far.

The post This ASX 200 share has notched up 5 record highs this month appeared first on The Motley Fool Australia.

Should you invest $1,000 in TechnologyOne right now?

Before you consider TechnologyOne, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and TechnologyOne wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

2 ASX shares that may be worth looking at this weekend

ASX 200 rises, TechnologyOne climbs, Milton up

Why Metalstech, Mineral Resources, TechnologyOne, & Webjet are storming higher

ASX 200 midday update: TechnologyOne hits record high, lithium miners rise

TechnologyOne (ASX:TNE) share price hits record high on UK acquisition news

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. 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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