Vanguard Group Inc. Raises Holdings in PaySign, Inc. (NASDAQ:PAYS)

Vanguard Group Inc. grew its position in shares of PaySign, Inc. (NASDAQ:PAYS) by 0.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,570,117 shares of the company’s stock after buying an additional 3,711 shares during the quarter. Vanguard Group Inc.’s holdings in PaySign were worth $3,062,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PAYS. Geode Capital Management LLC grew its holdings in shares of PaySign by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 284,821 shares of the company’s stock worth $734,000 after buying an additional 3,981 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in PaySign by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,205 shares of the company’s stock valued at $74,000 after purchasing an additional 5,874 shares during the period. Marshall Wace LLP lifted its position in PaySign by 23.4% in the second quarter. Marshall Wace LLP now owns 38,726 shares of the company’s stock valued at $95,000 after purchasing an additional 7,346 shares during the period. State Street Corp lifted its position in shares of PaySign by 6.7% during the 1st quarter. State Street Corp now owns 117,943 shares of the company’s stock valued at $428,000 after acquiring an additional 7,400 shares during the period. Finally, Portside Wealth Group LLC lifted its position in shares of PaySign by 33.7% during the 3rd quarter. Portside Wealth Group LLC now owns 33,740 shares of the company’s stock valued at $68,000 after acquiring an additional 8,508 shares during the period. Hedge funds and other institutional investors own 25.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of PaySign from a “d+” rating to a “c-” rating in a research report on Wednesday, January 3rd. Barrington Research reiterated an “outperform” rating and set a $5.50 price target on shares of PaySign in a research report on Wednesday, March 27th. Finally, DA Davidson lifted their price target on shares of PaySign from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, April 1st.

PaySign Price Performance

Shares of PAYS opened at $4.06 on Tuesday. The firm has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $2.72. PaySign, Inc. has a 1-year low of $1.67 and a 1-year high of $4.70. The stock has a market cap of $215.05 million, a price-to-earnings ratio of 33.83 and a beta of 1.08.

Insider Transactions at PaySign

In other news, CFO Jeffery Bradford Baker sold 27,691 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.87, for a total transaction of $79,473.17. Following the completion of the transaction, the chief financial officer now directly owns 157,097 shares of the company’s stock, valued at approximately $450,868.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Topline Capital Management, Ll bought 87,344 shares of the stock in a transaction on Wednesday, January 31st. The stock was purchased at an average cost of $3.08 per share, with a total value of $269,019.52. Following the purchase, the insider now owns 5,572,356 shares of the company’s stock, valued at $17,162,856.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffery Bradford Baker sold 27,691 shares of PaySign stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.87, for a total transaction of $79,473.17. Following the completion of the sale, the chief financial officer now directly owns 157,097 shares of the company’s stock, valued at $450,868.39. The disclosure for this sale can be found here. Insiders acquired a total of 691,570 shares of company stock valued at $2,046,811 in the last ninety days. Corporate insiders own 23.40% of the company’s stock.

PaySign Company Profile

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, data and analytics, and customer services. The company also offers 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.