Paysign (NASDAQ:PAYS) Upgraded to Buy at Wall Street Zen

Paysign (NASDAQ:PAYS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

A number of other research analysts also recently commented on PAYS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. DA Davidson restated a “buy” rating and issued a $9.00 price objective on shares of Paysign in a research note on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Paysign has an average rating of “Moderate Buy” and a consensus price target of $8.56.

Paysign Stock Performance

Shares of NASDAQ PAYS opened at $3.39 on Friday. The stock’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $5.24. The firm has a market capitalization of $186.60 million, a PE ratio of 26.08 and a beta of 0.96. Paysign has a fifty-two week low of $1.80 and a fifty-two week high of $8.88.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Paysign had a net margin of 10.10% and a return on equity of 19.18%. The company had revenue of $21.60 million for the quarter, compared to analyst estimates of $19.92 million. On average, sell-side analysts forecast that Paysign will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert Strobo sold 20,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $5.47, for a total value of $109,400.00. Following the completion of the sale, the insider directly owned 327,290 shares of the company’s stock, valued at approximately $1,790,276.30. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Paysign

Several institutional investors have recently added to or reduced their stakes in the stock. Topline Capital Management LLC raised its stake in Paysign by 0.4% during the 3rd quarter. Topline Capital Management LLC now owns 5,445,188 shares of the company’s stock valued at $34,250,000 after acquiring an additional 23,451 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Paysign by 1.6% during the third quarter. Vanguard Group Inc. now owns 1,820,371 shares of the company’s stock worth $11,450,000 after purchasing an additional 29,150 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Paysign by 14.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,457,941 shares of the company’s stock worth $7,508,000 after purchasing an additional 187,767 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Paysign by 15.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,303,772 shares of the company’s stock worth $6,714,000 after purchasing an additional 177,350 shares during the period. Finally, Palisades Investment Partners LLC grew its position in Paysign by 3.0% in the 4th quarter. Palisades Investment Partners LLC now owns 924,373 shares of the company’s stock valued at $4,761,000 after buying an additional 26,739 shares during the last quarter. Institutional investors and hedge funds own 25.89% of the company’s stock.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.