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

Paysign (NASDAQ:PAYS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Several other research firms have also recently weighed in on PAYS. Lake Street Capital increased their price objective on Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. DA Davidson reissued a “buy” rating and set a $9.00 target price on shares of Paysign in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Paysign presently has a consensus rating of “Moderate Buy” and an average target price of $9.42.

Paysign Stock Performance

Shares of NASDAQ:PAYS opened at $5.62 on Monday. The company has a 50-day moving average price of $3.80 and a 200-day moving average price of $4.82. The company has a market cap of $310.14 million, a price-to-earnings ratio of 43.23 and a beta of 0.99. Paysign has a 12 month low of $1.80 and a 12 month high of $8.88.

Paysign (NASDAQ:PAYS) last posted its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Paysign had a return on equity of 17.19% and a net margin of 9.21%.The business had revenue of $22.76 million during the quarter, compared to the consensus estimate of $21.54 million. As a group, research analysts forecast that Paysign will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in Paysign by 381.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock worth $51,000 after purchasing an additional 7,825 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Paysign by 44.7% during the 4th quarter. Invesco Ltd. now owns 24,412 shares of the company’s stock valued at $126,000 after buying an additional 7,537 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Paysign by 138.3% during the 4th quarter. Engineers Gate Manager LP now owns 34,063 shares of the company’s stock valued at $175,000 after buying an additional 19,769 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Paysign by 11.2% in the 4th quarter. Russell Investments Group Ltd. now owns 53,345 shares of the company’s stock worth $275,000 after buying an additional 5,359 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Paysign by 164.6% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after buying an additional 909,825 shares during the period. 25.89% of the stock is owned by hedge funds and other institutional investors.

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.