Paysign (NASDAQ:PAYS) Cut to Hold at Wall Street Zen

Paysign (NASDAQ:PAYS) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

Paysign Trading Down 3.3%

Shares of NASDAQ:PAYS opened at $3.55 on Friday. The stock has a fifty day simple moving average of $4.28 and a two-hundred day simple moving average of $5.03. Paysign has a 12-month low of $1.80 and a 12-month high of $8.88. The stock has a market capitalization of $195.39 million, a price-to-earnings ratio of 27.31 and a beta of 0.96.

Insider Activity at Paysign

In related news, insider Robert Strobo sold 20,000 shares of Paysign stock in a transaction dated Friday, December 12th. The stock was 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 in the company, valued at approximately $1,790,276.30. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by company insiders.

Institutional Trading of Paysign

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in shares of Paysign by 4.7% in the second quarter. Rhumbline Advisers now owns 48,770 shares of the company’s stock worth $351,000 after acquiring an additional 2,183 shares during the period. Invesco Ltd. boosted its holdings in Paysign by 19.1% in the second quarter. Invesco Ltd. now owns 16,942 shares of the company’s stock worth $122,000 after purchasing an additional 2,716 shares during the last quarter. Intech Investment Management LLC grew its position in Paysign by 18.0% in the 3rd quarter. Intech Investment Management LLC now owns 17,851 shares of the company’s stock worth $112,000 after purchasing an additional 2,723 shares during the period. Alliancebernstein L.P. grew its position in Paysign by 11.6% in the 3rd quarter. Alliancebernstein L.P. now owns 29,930 shares of the company’s stock worth $188,000 after purchasing an additional 3,100 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Paysign by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,912 shares of the company’s stock valued at $43,000 after buying an additional 3,453 shares during the last quarter. Hedge funds and other institutional investors own 25.89% of the company’s stock.

Paysign Company Profile

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.