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

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

Several other research firms have also recently weighed in on PAYS. Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. DA Davidson restated a “buy” rating and set a $9.00 target price on shares of Paysign in a report on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.56.

Paysign Trading Down 3.3%

Paysign stock opened at $3.55 on Friday. The firm has a market cap of $195.39 million, a P/E ratio of 27.31 and a beta of 0.96. Paysign has a 1-year low of $1.80 and a 1-year high of $8.88. The firm has a 50-day moving average of $4.28 and a 200-day moving average of $5.03.

Insider Activity

In other news, insider Robert Strobo sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 327,290 shares in the company, valued at $1,790,276.30. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Paysign

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYS. Topline Capital Management LLC boosted its holdings in shares of Paysign by 0.4% during the 3rd quarter. Topline Capital Management LLC now owns 5,445,188 shares of the company’s stock valued at $34,250,000 after buying an additional 23,451 shares in the last quarter. Vanguard Group Inc. lifted its position in Paysign by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,820,371 shares of the company’s stock valued at $11,450,000 after acquiring an additional 29,150 shares during the period. Punch & Associates Investment Management Inc. boosted its stake in Paysign by 164.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after acquiring an additional 909,825 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Paysign by 14.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,457,941 shares of the company’s stock worth $7,508,000 after acquiring an additional 187,767 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Paysign by 15.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,303,772 shares of the company’s stock worth $6,714,000 after purchasing an additional 177,350 shares during the period. Hedge funds and other institutional investors own 25.89% of the company’s stock.

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.