In a remarkable display of market confidence, Intelligent Systems Corporation (NYSE: NYSE:CCRD) stock has surged to a 52-week high, reaching a price level of $24.22. The company maintains strong financial health with a current ratio of 4.9x and minimal debt-to-equity of 0.07, while management has been actively buying back shares according to InvestingPro data. This significant milestone underscores the company's robust performance and investor optimism. Over the past year, Intelligent Systems has witnessed an impressive 77.3% return, with particularly strong momentum shown in its 70% gain over the past six months. Trading at a P/E ratio of 48x, the stock appears overvalued compared to its InvestingPro Fair Value. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription, which covers this and 1,400+ other US stocks with detailed analysis and actionable intelligence.
In other recent news, CoreCard Corporation has reported a robust growth in its Q3 earnings, with total revenue for the quarter reaching $15.7 million, marking a 17% increase year-over-year. The company's earnings per diluted share also saw a notable turnaround, posting $0.27 compared to a loss of $0.03 in Q3 2023. These recent developments were attributed to a rise in license, professional services, and processing revenues.
Executives at CoreCard, including CEO Leland Strange and CFO Matt White, have raised the full-year outlook, projecting a revenue growth of 25% to 30%, up from the previously guided 15% to 20%. The company is also in an ongoing partnership with Goldman Sachs, which is set to ensure increased managed services fees starting January 2025.
Furthermore, CoreCard is developing a new cloud-native platform, Corefinity, expected to launch by late 2025. However, it's worth noting that future license revenue remains uncertain due to earlier-than-expected receipts and the GM program's deconversion. Regardless, the company's third-quarter performance indicates a strong trajectory for growth.
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