5 Top NASDAQ Tech Stocks: ModSys International Takes the Lead

It was another good week for the NASDAQ 100 Technology Sector (INDEXNASDAQ:NDXT), which went up by 4.35 percent this week. Here’s a look at which companies benefited most from this growth:

• ModSys International Ltd. (NASDAQ:MDSY)
• Payment Data Systems (NASDAQ:PYDS)
• Echelon Corp. (NASDAQ:ELON)
• Concurrent Computer (NASDAQ:CCUR)
• IZEA Inc (NASDAQ:IZEA)

ModSys International Ltd.

ModSys International, formerly BluePhoenix Solutions, develops and markets enterprise legacy migration solutions and provides tools and professional services to international markets.
The company has been on a strong streak for the past couple of months, making this list several times. Last week, the company saw a share price gain of 24.24 percent. However, this week’s growth isn’t enough to offset the company’s tumultuous rises and falls. Overall this month, stock prices have dipped by 30.30 percent.

Payment Data Systems

Payment Data Systems Inc. is a processor of electronic payments. The company operates in the US under two operating segments: Payment Data Systems, and FiCentive, Inc. These segments offer integrated electronic payment processing services and online payment processing services. This week, the company saw share price growth of 16.56 percent. This jump was well-needed, as the company has seen a loss of 5.48 percent so far this year. Things have been gradually looking up for the company, since their Q1 2016 earnings release on May 16.

Echelon Corp.

Echelon Corporation develops open-standard control networking platforms and delivers the elements necessary to design, install, monitor and control communities of devices. Essentially, the company’s products allow everyday devices (such as outdoor lighting and electricity meters) to become integrated into the Industrial Internet of Things market. On May 17, the company hosted its annual shareholder meeting, but its only in the last week that stock prices have increased appreciably. This week, share prices jumped by 13.16 percent, helping to offset monthly losses of 6.37 percent and a year to date drop of 8.51 percent.

Concurrent Computer

Concurrent Computer rose 10.69 percent last week, and is up 29.70 percent year-to-date. The company provides software, hardware and professional services for the content delivery market, developing applications based on Linux and storage technologies. Some of its content delivery solutions consist of software, hardware and services for streaming video, managing network content, and collecting and analyzing data. The last big financial announcement from the company occurred on May 3, when it released its Q3 2016 earnings information.

IZEA Inc.

IZEA, Inc. is engaged in the social sponsorship space. The company operates an online marketplace that connects brands with creators at IZEA.com, as well as other white label marketplaces. The IZEA Exchange (IZEAx) is a platform that handles content workflow, creator search and targeting, bidding, analytics and payment processing. This multi-faceted company saw a 10.33 percent increase this week, rounding out the top five gainers on this list. This helps to offset a monthly loss of 2.18 percent. The company’s share price increase could be correlated to it’s presence at the B. Riley Investor Conference on May 25.
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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million and less than $100 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.