Paysign (NASDAQ:PAYS) Given “Buy” Rating at DA Davidson

Paysign (NASDAQ:PAYS)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $6.00 target price on the stock. DA Davidson’s target price points to a potential upside of 152.63% from the company’s previous close.

Several other research firms also recently weighed in on PAYS. Barrington Research reissued an “outperform” rating and issued a $7.00 target price on shares of Paysign in a research report on Wednesday. Lake Street Capital started coverage on Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 price target on the stock.

Paysign Price Performance

NASDAQ PAYS traded down $0.11 during mid-day trading on Wednesday, hitting $2.38. The company’s stock had a trading volume of 98,772 shares, compared to its average volume of 275,000. Paysign has a 52-week low of $2.25 and a 52-week high of $5.59. The stock’s fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $3.25. The firm has a market capitalization of $127.18 million, a P/E ratio of 15.77 and a beta of 0.93.

Paysign (NASDAQ:PAYS) last posted its earnings results on Tuesday, March 25th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $15.61 million for the quarter, compared to analysts’ expectations of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. On average, equities analysts forecast that Paysign will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark Newcomer sold 61,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $2.89, for a total transaction of $176,290.00. Following the completion of the transaction, the chief executive officer now owns 9,075,886 shares in the company, valued at approximately $26,229,310.54. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total transaction of $63,127.02. Following the completion of the sale, the insider now owns 5,611,128 shares in the company, valued at $17,001,717.84. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 927,087 shares of company stock worth $2,872,039 over the last three months. Corporate insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PAYS. Topline Capital Management LLC acquired a new position in shares of Paysign in the 4th quarter worth $16,946,000. Renaissance Technologies LLC lifted its position in shares of Paysign by 11.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company’s stock valued at $4,535,000 after acquiring an additional 149,200 shares in the last quarter. 1248 Management LLC purchased a new stake in Paysign in the 4th quarter worth about $2,778,000. Millennium Management LLC increased its stake in Paysign by 123.6% in the 4th quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock valued at $983,000 after buying an additional 179,814 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Paysign by 4.5% during the fourth quarter. Northern Trust Corp now owns 274,005 shares of the company’s stock worth $827,000 after acquiring an additional 11,806 shares in the last quarter. Institutional investors own 25.89% of the company’s stock.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.