Paysign (NASDAQ:PAYS) Rating Increased to Buy at Wall Street Zen

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

Several other analysts have also recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $9.00 price objective on shares of Paysign in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Finally, Lake Street Capital increased their target price on Paysign from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.42.

Paysign Stock Performance

Shares of NASDAQ PAYS opened at $5.62 on Monday. The business has a 50-day moving average of $3.80 and a 200-day moving average of $4.82. The firm has a market capitalization of $310.14 million, a price-to-earnings ratio of 43.23 and a beta of 0.99. Paysign has a 12 month low of $1.80 and a 12 month high of $8.88.

Paysign (NASDAQ:PAYS) last announced its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Paysign had a net margin of 9.21% and a return on equity of 17.19%. The company had revenue of $22.76 million for the quarter, compared to the consensus estimate of $21.54 million. On average, analysts predict that Paysign will post 0.21 earnings per share for the current year.

Institutional Investors Weigh In On Paysign

Several institutional investors have recently bought and sold shares of the stock. Punch & Associates Investment Management Inc. increased its stake in Paysign by 164.6% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after purchasing an additional 909,825 shares during the period. Palisades Investment Partners LLC purchased a new stake in shares of Paysign during the third quarter valued at approximately $5,646,000. Royce & Associates LP grew its holdings in shares of 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 purchasing an additional 373,519 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Paysign by 2,943.3% in the third quarter. New York State Common Retirement Fund now owns 385,732 shares of the company’s stock worth $2,426,000 after purchasing an additional 373,057 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Paysign by 139.5% in the third quarter. Two Sigma Investments LP now owns 504,887 shares of the company’s stock worth $3,176,000 after buying an additional 294,041 shares during the period. 25.89% of the stock is currently 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.