The S&P/ASX 200 Index (ASX: XJO) ended the week with its first gain since Monday, lifting 0.3% to close at 7,307 points. That leaves it 0.54% lower than where it finished the previous week.

But not all was well on the index on Friday. The S&P/ASX 200 Materials Index (ASX: XMJ) tumbled 1.2% despite the Allkem Ltd (ASX: AKE) share price jumping on the back of the company's record first-half revenue.

Fortunately, however, all other sectors ended the day in the green.

Leading the way was the S&P/ASX 200 Information Technology Index (ASX: XIJ). It lifted 2.4%, helped along by the Block Inc (ASX: SQ2) share price, which gained 5.9% on the tech giant's quarterly earnings.

But Block wasn't today's top-performing ASX 200 share. Let's take a look at which stock took out the title on Friday.

Top 10 ASX 200 shares countdown

Today's biggest gain was posted by the Bega Cheese Ltd (ASX: BGA) share price. It surged 7.5% today, recovering much of the 7.8% tumble it experienced yesterday on the release of its first-half earnings.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

But investors shouldn't be overly concerned. All three ASX 200 shares are trading ex-dividend today.

Which ASX 200 shares are trading ex-dividend?

The Whitehaven Coal Ltd (ASX: WHC) share price is down 3.1% in afternoon trading as investors buying the ASX 200 coal stock now will no longer receive the outsized interim dividend.

With net profit after tax (NPAT) up 423% to $1.8 billion for the six months ending 31 December, Whitehaven's board declared a fully-franked interim dividend of 32 cents per share. That's up 300% from the 8 cents per share paid out in 1H FY22.

The payment date for investors who bought the ASX 200 share before it traded ex-dividend is 10 March.

JB Hi-Fi Limited (ASX: JBH) is also trading ex-dividend today, reflected by a 5.4% fall in the JB Hi-Fi share price.

The ASX 200 electronic retailing share reported a 14.6% year on year increase in its half-year profits, with NPAT coming in at $330 million. This saw the board declare a fully franked interim dividend of $1.97 per share, up 21% from 1H FY22.

Eligible investors can expect that payment on 10 March.

The third ASX 200 share you might not know is trading ex-dividend today is financial software provider Iress Ltd (ASX: IRE).

The Iress share price is down 3%, with investors buying the stock today no longer eligible to receive the 30 cents per share unfranked dividend.

That's the same as the final dividend payout the prior year, despite Iress reporting a 28.6% fall in full-year NPAT, which came in at $52.7 million.

The post 3 ASX 200 shares you might not know are trading ex-dividend today appeared first on The Motley Fool Australia.

While most investors rightly focus on business performance or structural tailwinds in picking ASX shares to buy, there is another factor that could materially boost the fortunes of a stock.

That is takeovers.

"Identifying companies that will make suitable takeover targets can make for very lucrative investments," Wilsons equities strategist Rob Crookston said in a memo to clients.

"Normally, companies are acquired at a significant premium to their latest share price, and any hint of a possible acquisition can trigger positive momentum even before a bid is announced."

After 2022 saw many non-mining S&P/ASX 200 Index (ASX: XJO) shares fall in value, big institutional investors like superannuation funds and private equity firms are "still on the hunt for high-quality assets at a fair price".

Growth stocks slashed to clear

One set of companies that are "vulnerable" to acquisitions are growth stocks.

It's because they are going for cheap at the moment.

"These stocks have underperformed during periods of rising bond yields and outperformed when bond yields have fallen," said Crookston.

"2022 was no different. The quick-fire rise in bond yields was a significant headwind for growth stocks in 2022."

To demonstrate, the S&P/ASX All Technology Index (ASX: XTX) is still more than 33% lower than November 2021, despite a 10% revival this year.

Crookston noted that takeover bids have already been seen for technology shares such as Nitro Software Ltd (ASX: NTO), Tyro Payments Ltd (ASX: TYR), and ELMO Software Ltd (ASX: ELO).

The next great takeover targets?

So Wilsons analysts set out to find the ASX 200 shares that might become the next takeover targets.

"Our search is looking for more of these opportunities at the larger end," said Crookston.

"We have looked for stocks that have derated significantly over 2022 that offer substantial growth potential."

These are the seven ASX companies that Crookston's team came up with:

• Xero Limited (ASX: XRO)
• Domain Holdings Australia Ltd (ASX: DHG)
• PEXA Group Ltd (ASX: PXA)
• Netwealth Group Ltd (ASX: NWL)
• Iress Ltd (ASX: IRE)
• Altium Limited (ASX: ALU)
• NEXTDC Ltd (ASX: NXT)

The analysts said that Domain is attractive for acquisition because of its "strong market position" that's effectively a duopoly.

"Looks oversold on negative housing sentiment, but likely to grow earnings over the cycle."

Cloud accounting software provider Xero has seen its share price halve since November 2021.

"High multiple might deter but has de-rated heavily over the year," read the Wilsons memo.

"SaaS [software as a service] business with recurring revenue. Strong growth with the potential for substantial cost out."

Another software company, Altium, is undergoing some pain at the moment but will be tempting for savvy institutional investors seeking growth in the medium term.

"Transition to SaaS business causing slight disruption (margins contraction) but should be short-term," read the memo.

"High quality business that is taking market share."

The post 7 ASX 200 growth shares to buy for possible takeovers: expert appeared first on The Motley Fool Australia.

The two ASX tech shares listed below are making big moves in opposite directions following the release of their respective results. Here's what they reported and how investors have responded:

Iress Ltd (ASX: IRE)

The Iress share price is down 3% after the financial technology company's full year results disappointed the market.

Iress reported a 3.7% increase in revenue to $617.9 million, but a 0.7% decline in segment profit to $165.1 million and a 28.6% decline in reported net profit after tax to $52.7 million. This was at the low end of the company's guidance range.

Looking ahead, management has stated that it expects FY 2023 segment profit "to be at or above the levels of 2022." However, the company also intends to provide a full update on its medium term guidance at its investor day in April. Investors appear to be concerned that this could mean that management retracts its 2025 targets.

Symbio Holdings Ltd (ASX: SYM)

The Symbio share price is up 4% to $1.90. This morning, this voice communications software provider reported a 5% increase in half year recurring revenue to $57.2 million.

And while the ASX tech share posted a 33% decline in EBITDA to $11.6 million, it has reiterated its full year EBITDA guidance of $26 million to $30 million. Management also revealed that it then expects to return to EBITDA growth in FY 2024.

Looking further ahead, the company remains "confident that the global megatrends of enterprise cloud adoption and new ways of working, including hybrid working, will prevail through the current period of uncertainty."

The post 2 ASX tech shares making big moves on results announcements appeared first on The Motley Fool Australia.

While a good number of ASX 200 shares tumbled with the market, some fell particularly hard. Here's why these were the worst performers on the index last month:

Link Administration Holdings Ltd (ASX: LNK)

The Link share price was the worst performer on the ASX 200 last month with a decline of 33.5%. This was driven by the collapse of the administration services company's takeover by Dye & Durham. Link is now looking at options to unlock value for shareholders. This could include distributing its stake in PEXA Group Ltd (ASX: PXA).

Iress Ltd (ASX: IRE)

The Iress share price was out of form and sank 21.1% during September. The majority of this decline came in the final week of the month following the release of a trading update at its annual general meeting. Iress revealed that it is experiencing some timing delays in the conversion of new sales opportunities due to challenging market conditions. As a result, FY 2022 net profit after tax is now expected to be between $54 million and $58 million, down from its prior guidance of $63 million to $72 million.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price was sold off last month and dropped 20.5%. Investors were selling down travel shares in September amid concerns that rising living costs could impact the tourism market. Short sellers will have been pleased with this decline. Flight Centre has been the most shorted share on the Australian share market since the start of the year.

Ramsay Health Care Limited (ASX: RHC)

The Ramsay Health Care share price wasn't far behind with a 20.1% decline in September. This decline was driven by the termination of the private hospital operator's takeover talks with a consortium led by private equity giant KKR. Talks ended after the consortium was unwilling to lift its offer, which Ramsay had described as "meaningfully inferior."

The post These were the worst performers on the ASX 200 in September appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down 2% to 51 cents. Investors appear to have concerns with the infant formula company's plans in China. Although it has gained access to the market through a joint venture, its formula for that market will no longer be manufactured in Australia. This will make it just one of the countless other China-made infant formulas and could dilute its Aussie Bubs branding.

Iress Ltd (ASX: IRE)

The Iress share price has crashed almost 17% to $8.77. This follows the release of a trading update at its annual general meeting. According to its release, Iress is experiencing some timing delays in the conversion of new sales opportunities due to challenging market conditions. As a result, FY 2022 net profit after tax is now expected to be between $54 million and $58 million, down from its prior guidance of $63 million to $72 million.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 2% to $2.94. This has been driven by the administration services company's shares trading ex-dividend this morning for its special dividend. Link shareholders can now look forward to receiving their 8 cents per share special dividend on 14 October.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is down 3% to $1.41. This is despite there being no news out of the medical device company today. However, it is worth noting that the Polynovo share price has been a very positive performer this week during the market volatility. As a result, it is still up almost 1% this week despite this decline.

The post Why Bubs, Iress, Link, and Polynovo shares are dropping today appeared first on The Motley Fool Australia.

The Iress Ltd (ASX: IRE) share price is plummeting this morning after the company announced a profit downgrade.

At the time of writing, the financial software company's shares are down a mammoth 15.21% to $8.92, having earlier been as low as $8.43.

This makes it by far the worst performer on the ASX, with Bell Financial Group Ltd (ASX: BFG) shares coming in second place at a 6.54% drop.

Let's take a look and see what Iress provided in today's market release.

Iress suffers setback amid 'challenging macro conditions'

Investors are heading for the hills, sending the Iress share price lower following the company's dismal outlook.

According to its release, Iress is experiencing some timing delays in the conversion of new sales opportunities due to challenging market conditions.

While it didn't say exactly what those factors were, Iress said the setback is "expected to impact FY 2022 guidance".

Furthermore, unfavourable currency exchange movements and US dollar pricing have led to higher than anticipated supplier costs.

Consequently, Iress is projecting full-year segment profit for 2022 to be in the range of $166 million and $170 million on a constant currency basis.

This compares to the company's previous guidance in August, in which it forecasted segment profit to be at the bottom of the range of $177 million and $183 million.

As a result, net profit after tax (NPAT) is estimated to be between $54 million and $58 million, down from $63 million to $72 million.

Iress CEO Andrew Walsh commented on the company's performance, saying:

Profit expectations for the second-half of this year have been impacted primarily by delays in the timing of new client opportunities. In addition, some costs are higher than we previously expected, including US dollar priced technology and software. While external macro conditions are volatile, we are making good progress in executing on our long-term strategies to build a more profitable and efficient Iress.

Iress share price summary

Adding in today's losses, the Iress share price has fallen 32% in 2022.

When looking at the last 12 months, its shares are down 23%.

Based on today's price, Iress presides a market capitalisation of approximately $1.96 billion.

The post Iress share price freefalls 15% on profit downgrade appeared first on The Motley Fool Australia.

When a company engages in a share buyback, it's often seen as a bullish sign that the company believes its shares are undervalued. When company directors personally buy back shares, this signal is amplified.

Directors using their money to buy back shares also gives them skin in the game and an additional incentive to make better decisions on behalf of other shareholders.

Here are two ASX 200 companies whose directors have recently bought up a significant sum of shares.

Kelsian Group Ltd (ASX: KLS)

Kelsian Group provides public transport utilities in Australia. It owns brands such as SeaLink Marine & Tourism and bus operator Transit Systems Group.

Shares of the ASX 200 company have taken a beating over the past year, as they're down around 38%.

But this hasn't deterred Kelsian Group's non-executive director Neil Smith from buying copious amounts of shares. Smith purchased 300,000 shares on Monday for a weighted average price of $5.47 per share. His investment on the day totalled roughly $1.64 million.

Some clues as to why Smith bought Kelsian shares could be found in its full-year results for FY22.

The company's top and bottom lines surged during this reporting period, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 9.3% year over year (yoy) to $183.1 million and total revenue up 12.9% yoy to $1.32 billion.

Kelsian CEO Clint Feuerherdt commented on the ASX 200 share's trajectory for the future, stating:

Kelsian is well placed to continue to grow both domestically and internationally with a continued focus on delivering against our growth initiatives and environmental factors continuing to ease, primarily migration and international mobility. Further, domestic tourism is expected to continue the positive trajectory seen since the 2022 Easter period and we anticipate a gradual return of international travel demand.

Iress Ltd (ASX: IRE)

Iress develops software for the financial services industry. Its main operating segment lies in the Asia Pacific region.

Iress's shares are down around 16% over the past year.

One director from Iress has seemingly seen an opportunity in the sell-off of the ASX 200 company's shares. Yesterday, Iress non-executive director Marcus Price bought 27,272 shares for a total consideration of $300,321.

Iress reported a lift in its underlying net profit after tax (NPAT) as part of its results for 1HFY22, which was announced on 18 August.

NPAT increased 29% to $31.8 million, while revenue also saw a slight bump of 6% to $306.4 million.

Looking ahead, the company expects its profit to be between $177 million and $183 million, representing an increase of 7% to 10%.

The post These ASX 200 directors have been buying up shares in their companies appeared first on The Motley Fool Australia.

The S&P/ASX 300 Index (ASX: XKO) is in the red again today, down 0.16% in early afternoon trade.

As we wrap up ASX reporting season for another year, there are a number of ASX 300 shares turning ex-dividend.

When a company's shares turn ex-dividend, it means those shares no longer come with an entitlement to the upcoming dividend payment.

This typically causes share prices to drop, since the company is paying out dividends from its cash reserves. 

What's more, some investors will look to offload shares once they've bagged the next dividend payment.

So, it was no surprise to see these three ASX 300 shares underperforming the market this morning as they turned ex-dividend.

However, the tide has turned this afternoon, with a couple now back trading in the green. Let's check them out.

Accent Group Ltd (ASX: AX1)

ASX 300 retailer Accent Group is trading today without a fully-franked final dividend of 4 cents.

This likely drove this morning's 2.6% or 4-cent fall in the Accent Group share price. However, shares in the ASX 300 share have since rallied and are now trading up 0.34% at $1.48 apiece.

Investors who were on the company's share registry by the closing bell yesterday should see this payment come through on 15 September.

Despite an 11% increase in revenue in FY22, the company's net profit after tax (NPAT) tumbled 59% on the back of operational challenges and a focus on growth.

As a result, Accent's full-year FY22 dividends came in at 6.5 cents, down 42% from FY21. 

Nonetheless, Accent shares were sporting a trailing dividend yield of 4.3% at yesterday's close. Adding in franking credits runs up this yield to 6.1%.

Iress Ltd (ASX: IRE)

Shares in financial software company Iress have also turned ex-dividend today, putting early pressure on the Iress share price.

At the time of writing, Iress shares have climbed back into the green and are trading 0.94% higher at $11.28.

Iress recently declared an interim dividend of 16 cents, in line with the prior period. In fact, Iress has kept its interim dividend steady at 16 cents since 2014. 

The level of franking attached to these payments has fluctuated, with the latest interim dividend being 25% franked. It will be paid on 23 September.

Iress shares were attracting a trailing dividend yield of 4.1% when the market closed yesterday. The company has consistently paid annual dividends of 46 cents per share since 2018. 

Bega Cheese Ltd (ASX: BGA)

Rounding out this trio of ASX 300 shares going ex-dividend today is leading dairy and food company, Bega.

The company handed in its FY22 results last week, lifting its fully franked final dividend by 10% to 5.5 cents.

At the time of writing, Bega shares have retreated 2.3% to $4.01.

Investors who owned Bega shares when the market closed yesterday should see this payment arrive on 23 September. Alternatively, a dividend reinvestment plan (DRP) is available.

Despite profits sliding in FY22, Bega raised its fully franked full-year dividends to 11 cents.

This put Bega shares on a trailing dividend yield of 2.6% when the market closed yesterday. With the benefit of franking credits, this yield bumps up to 3.8%. 

The post 3 ASX 300 shares trading ex-dividend today appeared first on The Motley Fool Australia.

The Iress Ltd (ASX: IRE) share price is defying the broader market today after the company delivered its first-half profit results.

The trading and wealth platform provider reported a 29% uplift in underlying net profit after tax (NPAT) to $31.8 million. This was on a 6% increase in revenue to $306.4 million for the six months ended 30 June 2022.

The statutory NPAT declined 25% to $30.6 million, but investors don't appear to be perturbed. The underlying figure excludes one-off earn-out payments for the QuantHouse and BC Gateway acquisitions.

The Iress share price jumped 4.6% to an intraday high of $11.89 in early trade. It has since slipped back to be up 2.7% at $11.67. In contrast, the S&P/ASX 200 Index (ASX: XJO) is down 0.32%.

Summary of Iress 1H FY22 results

• Constant Currency Segment Profit up 6% to $306.4 million
• Underlying NPAT up 29% to $31.8 million
• Return on invested capital (ROIC) increased 140 basis points (bps) to 9.6% on an underlying basis but fell 110 bps to 9.4% on a statutory basis
• Strong performance in APAC trading and market data and financial advice
• Xplan user numbers in financial advice are stable and the outlook for technology-enabled solutions is strong
• United Kingdom private wealth and trading delivered strong growth, with a plan to rejuvenate growth in retail wealth, and mortgages are performing well.

What the CEO said about the results

Iress CEO Andrew Walsh said:

Coupled with the benefits of the continuing share buy-back program and the purchase of shares for employee remuneration, underlying EPS rose by 32%.

The lifetime value of our client relationships sits at $25.7bn, many multiples of our market capitalisation, highlighting the strength of our client base and continued revenue growth.

It is pleasing to see our core business in Australia deliver another strong performance, with financial advice and trading & market data revenue growing by 8% on pcp. Recurring revenue grew by 9% on pcp for trading & market data and 8% for financial advice.

FY22 outlook and guidance

The company reaffirmed its full-year guidance range for segment profit to come in between $177 million and $183 million. This represents an increase of 7% to 10% over the previous year.

However, the results are now expected to be at the lower end of its guidance. Management is blaming this on the investment in fund registry, as part of investment infrastructure, and delayed growth in the UK.

Iress share price snapshot

Despite today's rally, the Iress share price has fallen 23% over the past year. That's worse than the 5%-plus fall by the ASX 200.

Some of its peers have also performed better. The Computershare Limited (ASX: CPU) share price has surged 50% and the Netwealth Group Ltd (ASX: NWL) share price has shed 7% over the same period.

The post Iress share price rallies as profit lifts 29% appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) enjoyed a second day in the red on Wednesday despite materials shares weighing on the market. The index was 0.23% higher at 6,823.20 points at today's close.

That was despite news Australia's consumer price index (CPI) rose 6.1% over the 12 months to the June quarter.

The S&P/ASX 200 Health Care Index (ASX: XIJ) and S&P/ASX 200 Financial Index (ASX: XFJ) led the market, gaining 1.2% and 1% respectively.

They were driven by shares in Clinuvel Pharmaceuticals Limited (ASX: CUV) and Zip Co Ltd (ASX: ZIP), which gained 8% and 21% respectively despite the companies' silence.

On the other side of the spectrum, the S&P/ASX 200 Materials Index (ASX: XIJ) tumbled 1.2% today.

It was likely driven lower by the falling price of some base metals including nickel. Gold futures fell ever so slightly to US$1,717.70 an ounce overnight while iron ore futures rose 1.3% to US$106.35 a tonne.

At the end of Wednesday's trade, six of the ASX 200's 11 sectors were in the green.

So, which ASX 200 shares outperformed all others on Wednesday. Keep reading to find out.

Top 10 ASX 200 shares countdown

For the second day in a row, the Zip Co Ltd (ASX: ZIP) share price took out the top spot among its peers. Find out what's been driving the buy now, pay later (BNPL) share lately here.

Today's biggest gains were made by these ASX 200 shares:

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down almost 4% to $16.97. This morning the team at Credit Suisse responded to the travel agent's latest update by putting an underperform rating and $14.00 price target on its shares. Elsewhere, Morgans has warned that Flight Centre's earnings may not recover to pre-COVID levels until FY 2025.

Iress Ltd (ASX: IRE)

The Iress share price is down 9% to $10.71. Investors have been selling this financial technology company's shares after it announced that its CEO is leaving. Iress' CEO, Andrew Walsh, is retiring at the start of October after 21 years with the company and 13 years as its leader. Walsh will remain with Iress as a consultant until the end of January 2023. He will be replaced by Marcus Price.

Nitro Software Ltd (ASX: NTO)

The Nitro share price has crashed 26% to $1.20. This follows the release of the document productivity software company's quarterly update. Although Nitro delivered strong growth during the first half, it has cut its guidance for the full year. This is because management has decided to balance its pursuit of annual recurring revenue growth while accelerating its cash flow breakeven goals.

Perseus Mining Limited (ASX: PRU)

The Perseus Mining share price is down 3.5% to $1.63. This morning this gold miner released its fourth quarter update. Although Perseus delivered production and costs in line with its guidance in FY 2022, investors appear disappointed with the company's FY 2023 half-year guidance. Management is expecting its all-in sustaining cost (ASIC) to increase 5% to 15% during the first half.

The post Why Flight Centre, Iress, Nitro, and Perseus shares are dropping today appeared first on The Motley Fool Australia.

At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is having a very subdued day. The benchmark index is currently down a fraction to 6,789.8 points.

Here's what is happening on the ASX 200 today:

Iress tumbles on CEO exit

The Iress Ltd (ASX: IRE) share price is sinking deep into the red on Tuesday following news that the financial technology company's CEO is leaving. Iress CEO, Andrew Walsh, is retiring at the start of October after 21 years with the company and 13 years as its leader. Walsh will remain with Iress as a consultant until the end of January 2023. He will be replaced by Marcus Price.

Flight Centre shares tumble

The Flight Centre Travel Group Ltd (ASX: FLT) share price has come under pressure today. Investors have been selling the travel agent's shares following a lukewarm response from brokers to its guidance upgrade on Monday. This morning Credit Suisse put an underperform rating and $14.00 price target on the company's shares. Elsewhere, Morgans has warned that Flight Centre's earnings may not recover to pre-COVID levels until FY 2025.

South32 shares charge higher

The South32 Ltd (ASX: S32) share price is on form on Tuesday. In contrast to Flight Centre, brokers have responded very positively to this mining giant's latest update. For example, the team at Goldman Sachs has reiterated its conviction buy rating with a $4.90 price target. Elsewhere Citi has retained its buy rating with a $4.90 price target and Macquarie has held firm with its outperform rating with a $5.90 price target.

Best and worst ASX 200 performers

The best performer on the ASX 200 by some distance on Tuesday has been the Zip Co Ltd (ASX: ZIP) share price. The buy now pay later provider's shares are inexplicably up 15% at lunch on new news. Going the other way, the worst performer has been the Iress share price with an 11% decline. This is in response to the exit of its long-serving CEO.

The post ASX 200 midday update: Iress sinks on CEO exit, Flight Centre shares descend appeared first on The Motley Fool Australia.

The Iress Ltd (ASX: IRE) share price is down 9.3% to $10.66 in early trading today after the company announced the departure of its CEO and preliminary 1H FY22 results.

In its statement, Iress reaffirmed its FY22 full-year profit guidance based on preliminary unaudited results for the first half.

Iress is a technology company providing software to the financial services industry. Its software is used by more than 10,000 businesses and 500,000 users globally.

Iress share price dives despite reaffirmed guidance

Iress said its 1H FY22 segment profit is expected to be $80.3 million. This is up 6% on the prior comparative period (pcp).

The company reaffirmed its guidance range of $177 million to $183 million for the full year in FY22.

Iress will announce its 1H FY22 results on 18 August during the upcoming earnings season.

New Iress CEO is the former head of PEXA

Today Iress announced the appointment of Marcus Price as its new managing director and CEO, effective from 3 October. He will begin as a non-executive director with the company today.

Price will replace current CEO Andrew Walsh, who is retiring after 21 years with the company and 13 as CEO. He will remain with Iress as a consultant from 3 October until the end of January 2023.

Iress said Price has more than 25 years of experience "leading transformative financial services and technology businesses".

Price was previously the founding CEO of PEXA Group Ltd (ASX: PXA), which is Australia's first digital property exchange. He held this role for more than 10 years.

Price has also held senior positions with National Australia Bank Ltd (ASX: NAB) and the Boston Consulting Group, which is one of the world's largest management consulting firms.

How much will the new Iress CEO get paid?

Essentially, Price's remuneration will be the same as the current CEO, according to the statement.

Price's base salary will be $712,736 (including superannuation) plus 13,865 equity rights for FY22 (prorated). The grant of these equity rights will be subject to Iress shareholder approval in or around September.

Price has agreed to a 30% reduction in base salary and equity rights (compared with the current CEO remuneration package) from 3 October 2022 through to 31 December 2024.

In exchange, Iress will issue Price with a one-off $13 strike price options package, converting into Iress shares with a fair value of $1,372,470 exercisable in two tranches from February 2026 and from February 2027.

Iress will also ask shareholders to approve the same performance rights package they approved for Walsh in May 2022. Price will not be eligible for performance rights until 2024.

Iress said: "The cost impact to the company will be neutral, with the fair value of the options equating to the 30% reduction in remuneration agreed by Mr Price."

What did Iress management say?

Roger Sharp, Chair of Iress, made the following comments:

Andrew has been an outstanding leader and steward of Iress. Since taking over as CEO in 2009, he has been instrumental in building Iress into a highly innovative market leader with a global footprint.

Marcus is ideally placed to steer Iress on the next phase of its journey. He brings tremendous experience in financial services and technology businesses with a demonstrated track record in creating shareholder value.

What did the departing and incoming Iress CEOs say?

Walsh said, "… with the company in such a strong position, I feel the time is right to pursue new opportunities. I am proud to have seen Iress through a period of substantial transformation and growth into what is today a successful global technology business and market leader."

Price said, "I am certainly looking forward to working with the Iress team as we execute on the 2025 strategy presented to the market last year, including continuing to evolve Iress' operational model and transition to a platform-based architecture. In addition, we will explore further horizons and ambitions for the business."

Iress extends share buyback program

Last week, Iress announced an extension of its existing on-market share buyback program.

Iress announced the buyback in July 2021. Back then, Iress was planning to purchase up to $100 million shares in the period to 28 July 2022.

To date, Iress has purchased $70 million in shares. The company said the buyback period "will now continue until the buyback program is completed".

The Iress share price is down 18.6% in 2022 so far, including this morning's losses.

The post Iress share price drops 9% on news of CEO departure appeared first on The Motley Fool Australia.

Small-cap ASX shares have been brutalised in 2022, with some funds specialising in that area shrinking by 38% over the last financial year.

The month of June was especially horrifying, with the S&P/ASX Small Ordinaries Industrials (ASX: XSI) taking a whopping 10.4% fall.

However, small-cap investor Celeste Funds Management told its clients in a memo that three of its holdings actually increased in value last month.

And what's more, it is looking forward to further gains in the future:

All smiles as Australians get their teeth checked again

Dental centre operator Pacific Smiles Group Ltd (ASX: PSQ) saw its share price skyrocket 15.8% in June after the company indicated patients are returning and staff absence due to COVID-19 has started to slow.

"Pacific Smiles' same centre patient fees for May 2022 were up 2.8% on pcp [prior corresponding period] while total patient fees were up 7.4%."

But the best indicator was that in an environment of rising rates the business is already well funded.

"Pacific Smiles also extended its $40 million CBA loan facility for a further 3 years," read the memo.

"Pleasingly, the board confirmed that due to the headroom in the facility and the improving operating outlook, the company is adequately funded and has no need or desire to raise capital."

The team at Celeste isn't the only one bullish about Pacific Smiles shares.

According to CMC Markets, all three surveyed analysts recommend it as a buy.

A tech stock that's also defensive

Financial services software provider Iress Ltd (ASX: IRE) enjoyed a nice rise in its stock price last month despite making no price-sensitive announcements.

"Iress rose 9.9% over the month of June, outperforming the broader ASX 200 technology sector which fell 11.0%," stated Celeste analysts.

"We remain positively disposed to management's renewed focus to its capital base and delivery on FY25 targets."

For a tech company, Celeste reckons it boasts defensive characteristics in the face of possible recession or an economic downturn.

"Looking ahead, we believe the nature of Iress' recurring revenues, its cash flow generation and defensive qualities will provide ballast in a macro environment where earnings predictability has become increasingly difficult."

The wider analyst community is polarised on Iress.

Five out of the nine surveyed on CMC Markets are neutral, rating the stock as a hold. Three recommend it as a strong buy and one labels it a strong sell.

'A string of positive announcements'

Omni Bridgeway Ltd (ASX: OBL) operates funds that pay for litigation cases.

Celeste analysts attributed the 5.3% rise in the share price last month to "a string of positive announcements".

"Firstly, they announced the successful completion of a US law firm portfolio that resulted in US$23 million of income into Fund 4, with the same law firm entering into a second $30 million portfolio funding also from Fund 4," read the memo.

"Omni Bridgeway has also launched its new Fund 8 which is a EUR300 million insured, leveraged special purpose vehicle with materially higher expected returns to Omni Bridgeway than previous funds."

The company also sold a 20% stake, worth $7.5 million, in a Commonwealth Bank of Australia (ASX: CBA) shareholder class action.

"Omni Bridgeway expects to be an active participant in the secondary market due to the improved liquidity it provides," stated Celeste analysts.

"We see significant upside in OBL as the transition to legal fund manager continues."

The post 3 small-cap ASX shares to buy that are actually rising: fund appeared first on The Motley Fool Australia.

Fortunately, some shares were able to avoid the market selloff. Here's why these were the best performers on the ASX 200 in June:

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price was the best performer on the ASX 200 in June with a 15.1% gain. This was driven by news that the gambling company has settled its Racing Queensland litigation for $150 million. This settlement was conditional on the commencement of legislation that will implement proposed reforms by the Queensland Government relating to the wagering taxation and racing industry funding model. These reforms are expected to be a very big boost to Tabcorp's business.

Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price was a strong performer with a 12.1% gain during the month. The catalyst for this was news that IFM Global Infrastructure Fund picked up a 15% stake in the toll road operator with a view of making a takeover proposal. However, the company wasn't biting and revealed that it denied a request from IFM for access to non-public information to help it form a proposal.

Iress Ltd (ASX: IRE)

The Iress share price was on form and rose 9.9% in June. This was despite there being no news out of the financial technology company or broker notes during the month. However, one fund manager that was buying shares last month was DNR Capital. It popped up with a 5.01% stake on 21 June. Its release shows several large purchases of shares during the month.

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price had a good month and climbed 7.5%. All of this gain and more came in the final week of the month following the release of the KFC restaurant operator's FY 2022 results. For the 12 months ended 1 May, Collins Foods delivered an 11.1% increase in revenue to $1,184,5 million and a 25% jump in underlying net profit after tax to $59.7 million. This was driven by growth across the business. A number of brokers responded positively and have tipped its shares to keep rising.

The post These were the best performing ASX 200 shares in June appeared first on The Motley Fool Australia.

Today, the S&P/ASX 200 Index (ASX: XJO) cemented its third straight day of consecutive losses. Unrest within the local share market followed another brutal fall in US equities on Wall Street last night. At the end of the session, the benchmark index finished 0.98% lower at 7,051.2 points.

Instead of tech shares being the main victim on the receiving end today, it was time for energy and mining companies to cop the brunt of selling pressure. Both oil and gold prices fell to the wayside overnight. Inevitably, companies associated with these commodities suffered during today's showing.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Iress Ltd (ASX: IRE) was the biggest gainer today. Shares in the financial services software company surged 5.66% despite there being no news or announcements. Find out more about Iress here.

The next best performing ASX share across the market today was REA Group Ltd (ASX: REA). The online real estate platform strengthened 5.48% with Citi analysts retaining their buy rating on the company yesterday. Uncover the latest REA Group details here.

Today's top 10 biggest gains were made in these ASX shares:

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) tech shares are being slammed on Tuesday after the Nasdaq Composite (NASDAQ: .IXIC) continued to tumble into market crash territory overnight.

The tech-heavy US-based index extended its slump in Monday's session overseas, recording a 4.29% fall and bringing its losses for the last six weeks to 20.5%.

Seemingly in reaction, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is plunging 1.25% at the time of writing, having sunk by almost 5% in early trading. It's being dragged down by most of the ASX's prominent tech shares.

For context, the ASX 200 is recording a 1.63% slip right now.

Let's take a closer look at what's going on with the Nasdaq Composite and its impact on ASX 200 tech stocks.

ASX 200 tech shares' Tuesday tumble

ASX 200 tech shares are suffering after the US tech-heavy index tumbled amid continued concerns about rising interest rates.

The Nasdaq Composite ended yesterday's session in the red, as did the S&P 500 Index (SP: .INX) and the Dow Jones Industrial Average Index (DJX: .DJI). The latter indexes fell 3.2% and 1.99% respectively on Monday.

Their continued downturn follows the US Federal Reserve's decision to raise interest rates by 0.5% last week, according to reporting by Reuters.

Nasdaq giant Tesla Inc (NASDAQ: TSLA) was one of the index's biggest weights overnight, recording a 9% fall.

Back on the ASX on Tuesday, the tech sector is being dragged down by Block Inc (ASX: SQ2). Its share price is tumbling 10.27%.

Meanwhile, stock in NextDC Ltd (ASX: NXT), Computershare Limited (ASX: CPU), Novonix Ltd (ASX: NVX), and Altium Limited (ASX: ALU) are recording drops of 4.6%, 2.6%, 2.2%, and 1.7% respectively.

Though, it's not all dire among the ASX's biggest tech stocks.

Shares in Life360 Inc (ASX: 360), Tyro Payments Ltd (ASX: TYR), and Iress Ltd (ASX: IRE) are leading the sector. They're gaining around 3.9%, 2.4%, and 2.1% respectively.

The Xero Limited (ASX: XRO) share price is also in the green.

The ASX 200 tech sector has plummeted more than 23% since its most recent high in early April. It's also more than 33% lower than it was at the start of 2022.

The post Technophobia? Why ASX 200 tech shares are getting hammered again appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are pushing higher:

Iress Ltd (ASX: IRE)

The Iress share price is up 2% to $11.82. This morning the financial technology company announced that it has decided against divesting its UK Mortgages business. Management believes the recent weakness in tech valuations means it will create more value retaining the business. Iress also reaffirmed its underlying net profit after tax growth guidance of 25% to 37% in FY 2022.

Krakatoa Resources Ltd (ASX: KTA)

The Krakatoa Resources share price has rocketed 117% to 12.8 cents. This morning the rare earths explorer reported that it has discovered "widespread clay hosted ionic type REE in the regolith" at its Mt Clere project in Western Australia.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is up 20% to $1.39. This afternoon the biopharmaceutical company revealed that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation for Paradigm's phase 3 program investigating Pentosan Polysulfate Sodium (PPS) for the treatment of osteoarthritis (OA). The release highlights that the Fast Track Designation from the FDA acknowledges that OA can be a serious disease with an unmet medical need and that preliminary data demonstrate that PPS has the potential to address this unmet need.

5E Advanced Materials Inc (ASX: 5EA)

The 5E Advanced Materials share price is up 12% to $3.10. This morning the boron-focused advanced materials company entered into a research collaboration agreement with Georgetown University. The agreement will see the two parties aim to advance boron based materials research in permanent magnets.

The post Why Iress, Krakatoa Resources, Paradigm, and SE Advanced Materials are pushing higher appeared first on The Motley Fool Australia.

Here's what is happening on the ASX 200 today:

Pendal rejects Perpetual takeover bid

The Pendal Group Ltd (ASX: PDL) share price is falling on Tuesday after the fund manager rejected a takeover offer from rival Perpetual Limited (ASX: PPT). Pendal's Board believes the offer undervalues the company. Softening the blow somewhat is news that Pendal intends to launch a $100 million on-market share buyback in May.

Iress cancels divestment plan

The Iress Ltd (ASX: IRE) share price has defied weakness in the tech sector and is pushing higher on Tuesday. This follows news that the financial technology company has decided against divesting its UK Mortgages business. Management believes the recent weakness in tech valuations means it will create more value retaining the business. The company also reaffirmed its underlying net profit after tax growth guidance of 25% to 37% in FY 2022.

Mineral Resources shares rise

The Mineral Resources Limited (ASX: MIN) share price is rising today despite weakness in the lithium sector. This appears to have been driven by a broker note out of Goldman Sachs. This morning the broker upgraded the mining and mining services company's shares to a buy rating and lifted its price target by 42% to $70.80. It made the move on "6 major changes to our MIN volume/growth assumptions (in addition to upgrades to both our lithium and iron ore price forecasts)."

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Uniti Group Ltd (ASX: UWL) share price with a gain of almost 3% on no news. Going the other way, the worst performer has been the Novonix Ltd (ASX: NVX) share price with a 7% decline. This follows weakness in the lithium and battery materials sectors.

The post ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade appeared first on The Motley Fool Australia.