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

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

A number of other brokerages also recently commented on PAYS. Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of Paysign in a research note on Wednesday. Lake Street Capital started coverage on Paysign in a research report on Friday, December 20th. They issued a “buy” rating and a $6.00 price objective on the stock.

Paysign Trading Down 8.5 %

Shares of Paysign stock opened at $2.27 on Wednesday. The business’s fifty day moving average price is $2.65 and its 200 day moving average price is $3.24. Paysign has a twelve month low of $2.25 and a twelve month high of $5.59. The stock has a market capitalization of $121.55 million, a P/E ratio of 15.13 and a beta of 0.93.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $15.61 million for the quarter, compared to analyst estimates of $15.42 million. Paysign had a return on equity of 30.64% and a net margin of 14.28%. As a group, sell-side analysts predict that Paysign will post 0.21 EPS for the current year.

Insider Activity

In other Paysign news, major shareholder Topline Capital Partners, Lp sold 20,834 shares of Paysign stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total transaction of $63,127.02. Following the sale, the insider now directly owns 5,611,128 shares in the company, valued at $17,001,717.84. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Newcomer sold 100,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $2.73, for a total transaction of $273,000.00. Following the transaction, the chief executive officer now directly owns 8,936,886 shares of the company’s stock, valued at approximately $24,397,698.78. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 927,087 shares of company stock worth $2,872,039. 23.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Topline Capital Management LLC bought a new position in Paysign during the fourth quarter worth $16,946,000. Renaissance Technologies LLC lifted its position in shares of Paysign by 11.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company’s stock worth $4,535,000 after buying an additional 149,200 shares during the last quarter. 1248 Management LLC acquired a new position in shares of Paysign in the 4th quarter valued at about $2,778,000. Millennium Management LLC boosted its holdings in shares of Paysign by 123.6% in the 4th quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock valued at $983,000 after buying an additional 179,814 shares during the period. Finally, Northern Trust Corp grew its position in shares of Paysign by 4.5% during the 4th quarter. Northern Trust Corp now owns 274,005 shares of the company’s stock valued at $827,000 after buying an additional 11,806 shares during 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.