Paysign (NASDAQ:PAYS) Now Covered by Lake Street Capital

Lake Street Capital began coverage on shares of Paysign (NASDAQ:PAYS) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

Separately, Barrington Research restated an “outperform” rating and issued a $7.00 price target on shares of Paysign in a report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.13.

Paysign Stock Performance

Paysign stock opened at $2.99 on Friday. The company has a market cap of $160.11 million, a P/E ratio of 19.93 and a beta of 0.93. Paysign has a one year low of $2.40 and a one year high of $5.59. The business has a fifty day moving average of $3.52 and a two-hundred day moving average of $4.07.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The firm had revenue of $15.26 million during the quarter, compared to analysts’ expectations of $14.96 million. During the same quarter last year, the business earned $0.02 earnings per share. Sell-side analysts predict that Paysign will post 0.21 EPS for the current year.

Insider Buying and Selling at Paysign

In other Paysign news, insider Matthew Louis Lanford sold 25,360 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $3.96, for a total transaction of $100,425.60. Following the sale, the insider now owns 109,731 shares in the company, valued at approximately $434,534.76. This represents a 18.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Newcomer sold 22,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $3.75, for a total value of $82,500.00. Following the completion of the transaction, the chief executive officer now directly owns 9,414,886 shares of the company’s stock, valued at approximately $35,305,822.50. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 289,360 shares of company stock worth $1,021,746. 23.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Paysign by 25.0% during the second quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company’s stock worth $6,484,000 after buying an additional 301,000 shares in the last quarter. Royce & Associates LP acquired a new stake in Paysign during the third quarter worth approximately $814,000. Rhumbline Advisers grew its stake in Paysign by 25.1% in the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock worth $154,000 after acquiring an additional 7,190 shares during the period. Joule Financial LLC acquired a new position in Paysign in the 3rd quarter valued at $1,478,000. Finally, Algert Global LLC purchased a new position in shares of Paysign during the 2nd quarter worth $46,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

Paysign Company Profile

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.