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

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

A number of other brokerages also recently commented on PAYS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paysign in a research note on Thursday, January 22nd. DA Davidson restated a “buy” rating and set a $9.00 price target on shares of Paysign in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.56.

Paysign Price Performance

PAYS stock opened at $3.39 on Friday. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The firm has a market capitalization of $186.60 million, a PE ratio of 26.08 and a beta of 0.96. The business has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $5.24.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $21.60 million for the quarter, compared to analyst estimates of $19.92 million. Paysign had a return on equity of 19.18% and a net margin of 10.10%. On average, equities research analysts expect that Paysign will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Robert Strobo sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $5.47, for a total value of $109,400.00. Following the transaction, the insider directly owned 327,290 shares in the company, valued at approximately $1,790,276.30. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Paysign in the 2nd quarter valued at about $30,000. BNP Paribas Financial Markets raised 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 acquiring an additional 3,453 shares in the last quarter. Quarry LP purchased a new position in Paysign in the third quarter worth approximately $54,000. SG Americas Securities LLC acquired a new position in Paysign during the 4th quarter worth approximately $52,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Paysign in the 3rd quarter valued at $67,000. 25.89% of the stock is owned by institutional investors and hedge funds.

Paysign Company Profile

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.