Paysign (NASDAQ:PAYS) Earns Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of Paysign (NASDAQ:PAYS) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

A number of other equities research analysts have also commented on the company. Barrington Research restated an “outperform” rating and set a $7.00 price target on shares of Paysign in a research report on Wednesday. Lake Street Capital assumed coverage on shares of Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 price target on the stock.

Paysign Trading Down 0.9 %

Shares of PAYS opened at $2.13 on Wednesday. The stock has a market cap of $114.06 million, a PE ratio of 14.20 and a beta of 0.93. Paysign has a 1 year low of $2.10 and a 1 year high of $5.59. The stock has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $3.22.

Paysign (NASDAQ:PAYS) last issued its earnings results on Tuesday, March 25th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The company had revenue of $15.61 million for the quarter, compared to the consensus estimate of $15.42 million. On average, sell-side analysts forecast that Paysign will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Paysign news, insider Topline Capital Management, Ll sold 227,084 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $3.07, for a total transaction of $697,147.88. Following the sale, the insider now directly owns 5,631,962 shares in the company, valued at approximately $17,290,123.34. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Newcomer sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $2.73, for a total transaction of $273,000.00. Following the completion of the transaction, the chief executive officer now owns 8,936,886 shares of the company’s stock, valued at $24,397,698.78. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 695,900 shares of company stock valued at $2,106,810. 23.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paysign

A number of large investors have recently added to or reduced their stakes in PAYS. SG Americas Securities LLC grew its holdings in shares of Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after buying an additional 3,895 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Paysign by 4.3% in the third quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock valued at $419,000 after purchasing an additional 5,000 shares during the last quarter. Barclays PLC boosted its holdings in Paysign by 10.8% during the fourth quarter. Barclays PLC now owns 52,178 shares of the company’s stock worth $157,000 after purchasing an additional 5,088 shares during the last quarter. Wells Fargo & Company MN increased its stake in Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock valued at $46,000 after buying an additional 5,243 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Paysign by 13.7% during the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company’s stock worth $134,000 after buying an additional 5,339 shares in the last quarter. Institutional investors own 25.89% of the company’s stock.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.