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Why iSignthis, Nufarm, Pro Medicus, & Service Stream shares pushed higher today

share price up

In afternoon trade the S&P/ASX 200 index is on course to record a solid gain. At the time of writing the benchmark index is up 0.35% to 6,712.1 points.

Four shares that have climbed more than most today are listed below. Here’s why they have pushed higher:

The iSignthis Ltd (ASX: ISX) share price has surged over 17% higher to $1.10. Investors have been buying the payment company’s shares on Tuesday after it provided an update on its performance during September. According to the release, iSignthis’ actual annualised Gross Processed Turnover Volume (GPTV) exceeded A$1.9 billion during September. This is a 360% increase since the end of June and a 73% month on month lift in GPTV.

The Nufarm Limited (ASX: NUF) share price has zoomed over 10% higher to $6.24. Investors have been buying the agricultural chemicals company’s shares again today after it was the subject of a number of positive broker notes. One broker that is particularly bullish is Morgan Stanley. This morning its analysts retained their overweight rating and lifted the price target on its shares to $7.20 following its full year result and asset sale.

The Pro Medicus Limited (ASX: PME) share price has climbed 5% to $29.22 despite there being no news out of the healthcare technology company. However, its shares were the worst performers on the S&P/ASX 200 index in September with a decline of 24%. I suspect that bargain hunters may be swooping in today on the belief that its shares have been oversold.

The Service Stream Limited (ASX: SSM) share price is up 2% to $2.67. This may be a delayed response to a positive announcement on Monday which revealed that the essential network services company has secured a wireless design and construction agreement with Optus. Service Stream will initially provide site acquisition, design and construction services on the Optus network nationally for 5G.

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Returns as of 6th October 2020

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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