The Data#3 Limited (ASX: DTL) share price hit a new 52-week high of $1.95 on Monday before closing at $1.90 despite the company providing no market sensitive update since releasing earnings in August.
The IT company is now up 18% over the last 12 months.
Data#3 provides information technology and consulting services to a wide range of enterprises and the public sector throughout Australia and the Asia Pacific.
For the financial year ending June 30 2017, the company earned 9.99 cents a share, up 11% on the prior year. Overall revenue for the year grew by 11.7% to approximately $1.1 billion with a gross profit margin of 14.5%.
In particular, cloud based products and services increased by an impressive 71.3% to $170 million. Moving forward, the company is looking to accelerate growth in its "services unit" which is the most profitable segment of the business.
The stock currently trades at approximately 19x earnings. The company has a high payout ratio of around 89% as it pays out most of its earnings as fully franked dividends with an attractive 4.7% dividend yield.
