Payment Data Systems, Inc. (NASDAQ:PYDS)
San Antonio, TX-based Payment Data Systems, Inc. (NASDAQ:PYDS) stock rose over 80% after the payment processor announced that its transactions processing volumes for the third quarter of 2017 set an all-time record. PYDS stock closed at $2.59 on a volume figure that was over 150 times the listed daily average. Total dollars processed for the third quarter of 2017 exceeded $704.9 million.
Louis Hoch, President and CEO of Payment Data Systems, stated, “The successful execution of our revenue growth plan is now yielding results. We are pleased at the dramatic growth in the credit card processing segment of our business, and are also pleased to see the growth in our ACH business as compared to second quarter’s downturn. We now have visibility into continued revenue growth throughout the rest of 2017 and for all of 2018.”
Payment Data Systems, Inc. (NASDAQ:PYDS) is an integrated payment solutions provider, and offers a wide range of payment solutions to merchants, billers, banks, service bureaus, and card issuers. The Company operates credit, debit/prepaid and ACH payment processing platforms to deliver convenient, world-class payment solutions and service to their clients.
One year ago, Payment Data Systems, Inc. (NASDAQ:PYDS) hot their 52-week high of $2.65 – $0.06 above today’s losing price. After that high was hit, PYDS shares slid over the next 6-8 months and established a new 52-week low of $1.17. Over the past year the shares have done well – up over 25%. Year-to-date they have performed even better – up 40%.
Analysts have given PYDS stock a consensus one-year price target of $8 even as the shares have been projected to post negative earnings of 20%.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.