Paysign (NASDAQ:PAYS) Rating Lowered to Hold at Wall Street Zen

Paysign (NASDAQ:PAYS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

Paysign Stock Performance

Shares of Paysign stock opened at $3.23 on Friday. The stock has a market capitalization of $177.78 million, a P/E ratio of 24.85 and a beta of 0.99. The stock’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $4.85. Paysign has a 52-week low of $1.80 and a 52-week high of $8.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Palisades Investment Partners LLC bought a new position in shares of Paysign during the third quarter valued at approximately $5,646,000. New York State Common Retirement Fund increased its holdings in Paysign by 2,943.3% during the third quarter. New York State Common Retirement Fund now owns 385,732 shares of the company’s stock valued at $2,426,000 after buying an additional 373,057 shares during the period. Royce & Associates LP raised its stake in Paysign by 150.0% in the third quarter. Royce & Associates LP now owns 622,577 shares of the company’s stock worth $3,916,000 after buying an additional 373,519 shares in the last quarter. Precision Wealth Strategies LLC bought a new position in Paysign in the third quarter worth approximately $1,013,000. Finally, Joule Financial LLC lifted its holdings in Paysign by 53.2% during the third quarter. Joule Financial LLC now owns 614,175 shares of the company’s stock worth $3,863,000 after buying an additional 213,206 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.