Paysign (NASDAQ:PAYS) Upgraded to “Buy” at Wall Street Zen

Paysign (NASDAQ:PAYS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

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

Paysign Price Performance

NASDAQ PAYS opened at $3.44 on Friday. The stock’s fifty day moving average price is $3.98 and its 200 day moving average price is $4.92. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The company has a market cap of $189.34 million, a price-to-earnings ratio of 26.46 and a beta of 0.99.

Institutional Investors Weigh In On Paysign

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Paysign in the 2nd quarter worth about $30,000. BNP Paribas Financial Markets grew its holdings in Paysign by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 6,912 shares of the company’s stock valued at $43,000 after purchasing an additional 3,453 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Paysign by 381.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock valued at $51,000 after buying an additional 7,825 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Paysign during the 1st quarter worth approximately $51,000. Finally, SG Americas Securities LLC acquired a new position in shares of Paysign during the 4th quarter worth approximately $52,000. 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.