Paysign’s (PAYS) “Buy” Rating Reiterated at DA Davidson

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

A number of other brokerages have also weighed in on PAYS. Lake Street Capital began coverage on shares of Paysign in a research note on Friday, December 20th. They issued a “buy” rating and a $6.00 price target for the company. Barrington Research reaffirmed an “outperform” rating and set a $7.00 price target on shares of Paysign in a research note on Wednesday.

Paysign Stock Down 0.9 %

PAYS stock opened at $2.13 on Wednesday. The firm’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $3.22. 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 fifty-two week low of $2.10 and a fifty-two week high of $5.59.

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

Insider Buying and Selling

In other Paysign news, insider Topline Capital Management, Ll sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $3.24, for a total value of $388,800.00. Following the completion of the sale, the insider now directly owns 5,336,146 shares of the company’s stock, valued at $17,289,113.04. The trade was a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $3.03, for a total transaction of $63,127.02. Following the transaction, the insider now owns 5,611,128 shares in the company, valued at $17,001,717.84. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 695,900 shares of company stock valued at $2,106,810. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Paysign

Hedge funds have recently bought and sold shares of the company. PDT Partners LLC bought a new position in Paysign in the 4th quarter worth approximately $39,000. Wells Fargo & Company MN increased its holdings in shares of Paysign by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock worth $46,000 after purchasing an additional 5,243 shares during the period. SG Americas Securities LLC raised its position 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 valued at $47,000 after buying an additional 3,895 shares during the last quarter. Virtu Financial LLC acquired a new stake in Paysign during the fourth quarter worth about $78,000. Finally, Occudo Quantitative Strategies LP increased its stake in Paysign by 56.5% during the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company’s stock valued at $86,000 after acquiring an additional 10,268 shares during the period. 25.89% of the stock is currently owned by 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.