DA Davidson Reaffirms “Buy” Rating for Paysign (NASDAQ:PAYS)

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

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

Paysign Trading Down 4.2 %

Paysign stock traded down $0.11 during midday trading on Wednesday, hitting $2.38. 98,772 shares of the stock were exchanged, compared to its average volume of 275,000. The stock’s 50-day simple moving average is $2.67 and its 200 day simple moving average is $3.25. Paysign has a fifty-two week low of $2.25 and a fifty-two week high of $5.59. The stock has a market capitalization of $127.18 million, a price-to-earnings ratio of 15.77 and a beta of 0.93.

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

Insider Activity

In other Paysign news, insider Topline Capital Management, Ll sold 227,084 shares of Paysign stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $3.07, for a total transaction of $697,147.88. Following the transaction, the insider now owns 5,631,962 shares of the company’s stock, valued at $17,290,123.34. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Newcomer sold 100,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $2.73, for a total value of $273,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,936,886 shares of the company’s stock, valued at $24,397,698.78. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 927,087 shares of company stock worth $2,872,039. Corporate insiders own 23.40% of the company’s stock.

Institutional Trading of Paysign

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in shares of Paysign by 97.1% during the fourth quarter. Squarepoint Ops LLC now owns 148,847 shares of the company’s stock worth $450,000 after buying an additional 73,326 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Paysign by 901.7% in the fourth quarter. Two Sigma Advisers LP now owns 121,200 shares of the company’s stock valued at $366,000 after purchasing an additional 109,100 shares during the period. Two Sigma Investments LP grew its holdings in shares of Paysign by 98.8% in the 4th quarter. Two Sigma Investments LP now owns 181,775 shares of the company’s stock worth $549,000 after acquiring an additional 90,346 shares during the period. Occudo Quantitative Strategies LP increased its position in shares of Paysign by 56.5% in the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company’s stock valued at $86,000 after buying an additional 10,268 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Paysign by 123.6% in the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock worth $983,000 after acquiring an additional 179,814 shares during the last quarter. Institutional investors and hedge funds own 25.89% of the company’s stock.

About Paysign

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.