Paysign (NASDAQ:PAYS) Downgraded by Wall Street Zen to “Hold”

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

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Paysign presently has an average rating of “Moderate Buy” and an average target price of $8.56.

Paysign Price Performance

Shares of NASDAQ PAYS opened at $3.23 on Friday. Paysign has a 1-year low of $1.80 and a 1-year high of $8.88. The business has a fifty day moving average price of $3.82 and a 200 day moving average price of $4.85. The stock has a market capitalization of $177.78 million, a P/E ratio of 24.85 and a beta of 0.99.

Hedge Funds Weigh In On Paysign

A number of large investors have recently made changes to their positions in PAYS. Goldman Sachs Group Inc. boosted its position in shares of Paysign by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock worth $548,000 after purchasing an additional 17,466 shares in the last quarter. Jane Street Group LLC acquired a new position in Paysign during the 1st quarter valued at about $51,000. Rhumbline Advisers increased its position in Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock valued at $99,000 after buying an additional 2,303 shares in the last quarter. Geode Capital Management LLC raised its stake in Paysign by 1.6% in the second quarter. Geode Capital Management LLC now owns 788,500 shares of the company’s stock valued at $5,679,000 after buying an additional 12,490 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in Paysign in the second quarter valued at about $182,000. 25.89% of the stock is owned by institutional investors and hedge funds.

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.