Daniel Spence Sells 100,000 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $3.60, for a total transaction of $360,000.00. Following the transaction, the insider now owns 9,090,000 shares in the company, valued at $32,724,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Paysign Trading Down 1.8 %

PAYS stock opened at $3.60 on Friday. The company has a market cap of $190.72 million, a PE ratio of 27.69 and a beta of 0.96. The stock has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $4.39. Paysign, Inc. has a 12-month low of $1.67 and a 12-month high of $5.59.

Paysign (NASDAQ:PAYS) last issued its earnings results on Wednesday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter. Paysign had a return on equity of 32.55% and a net margin of 14.42%. The business had revenue of $14.33 million during the quarter, compared to analysts’ expectations of $14.07 million. Equities analysts forecast that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Barrington Research reaffirmed an “outperform” rating and set a $7.00 price target on shares of Paysign in a research report on Friday, June 28th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Paysign in the third quarter worth about $43,000. Algert Global LLC purchased a new position in shares of Paysign in the second quarter valued at $46,000. Norden Group LLC grew its holdings in Paysign by 38.7% during the 1st quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after purchasing an additional 4,151 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Paysign during the 2nd quarter worth $66,000. Finally, American Century Companies Inc. purchased a new position in Paysign in the 2nd quarter valued at about $92,000. 25.89% of the stock is owned by hedge funds and other institutional investors.

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.