Paysign (NASDAQ:PAYS) Price Target Raised to $6.00

Paysign (NASDAQ:PAYS) had its price objective upped by DA Davidson from $5.00 to $6.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. LADENBURG THALM/SH SH upped their price objective on shares of Paysign from $7.25 to $8.25 and gave the stock a “buy” rating in a report on Friday, May 9th. Barrington Research restated an “outperform” rating and set a $7.00 target price on shares of Paysign in a research note on Wednesday, March 26th. Finally, Lake Street Capital raised their target price on shares of Paysign from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

Paysign Price Performance

PAYS stock opened at $3.61 on Wednesday. Paysign has a one year low of $1.80 and a one year high of $5.59. The stock has a market cap of $194.03 million, a PE ratio of 24.07 and a beta of 0.23. The firm has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $2.82.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The company had revenue of $18.60 million during the quarter, compared to analysts’ expectations of $17.49 million. On average, research analysts expect that Paysign will post 0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mark Newcomer sold 100,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $2.73, for a total transaction of $273,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,936,886 shares of the company’s stock, valued at approximately $24,397,698.78. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is owned by insiders.

Institutional Trading of Paysign

Institutional investors and hedge funds have recently made changes to their positions in the company. PDT Partners LLC bought a new stake in shares of Paysign in the fourth quarter valued at about $39,000. Wells Fargo & Company MN raised its holdings in Paysign by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock worth $46,000 after purchasing an additional 5,243 shares in the last quarter. SG Americas Securities LLC raised its holdings in Paysign by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock worth $47,000 after purchasing an additional 3,895 shares in the last quarter. Royce & Associates LP raised its holdings in Paysign by 36.5% in the first quarter. Royce & Associates LP now owns 19,319 shares of the company’s stock worth $41,000 after purchasing an additional 5,166 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Paysign in the fourth quarter worth about $78,000. 25.89% of the stock is currently owned by institutional investors.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for 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 accessible with a debit card.