Paysign (NASDAQ:PAYS) Stock Price Up 3.8% After Analyst Upgrade

Paysign, Inc. (NASDAQ:PAYS)’s stock price was up 3.8% during mid-day trading on Thursday after Ladenburg Thalmann & Co. Inc. raised their price target on the stock from $14.00 to $15.25. Ladenburg Thalmann & Co. Inc. currently has a buy rating on the stock. Paysign traded as high as $9.78 and last traded at $9.84. Approximately 187,447 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 756,951 shares. The stock had previously closed at $9.48.

Several other equities analysts have also weighed in on PAYS. Barrington Research set a $15.00 target price on Paysign in a report on Tuesday, August 11th. Lake Street Capital upped their price target on Paysign from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. DA Davidson lowered their price objective on Paysign from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday. Maxim Group downgraded Paysign from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wall Street Zen lowered Paysign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Paysign presently has an average rating of “Moderate Buy” and an average price target of $14.81.

Insider Activity at Paysign

In related news, insider Michael Ngo sold 79,925 shares of Paysign stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $12.74, for a total value of $1,018,244.50. Following the transaction, the insider owned 2,350,000 shares in the company, valued at $29,939,000. This trade represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joan Herman sold 38,900 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $11.74, for a total transaction of $456,686.00. Following the transaction, the executive vice president directly owned 609,421 shares of the company’s stock, valued at approximately $7,154,602.54. This represents a 6.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 259,904 shares of company stock worth $3,402,424. 24.50% of the stock is owned by insiders.

Latest Paysign News

Here’s some of the latest news about PAYS:

• Positive Sentiment: Ladenburg Thalmann raised its price target to $15.25 and maintained a Buy rating, signaling substantial potential upside in its view. Ladenburg Thalmann recommendations
• Negative Sentiment: A major plasma customer’s pullback raised concerns about future revenue and contributed to the post-earnings selloff. Paysign falls as customer’s pullback weighs on future revenue
• Negative Sentiment: Analyst actions were mixed: Maxim Group downgraded PAYS from Buy to Hold, and DA Davidson cut its target from $15 to $14, though it retained a Buy rating. Maxim Group recommendations DA Davidson recommendations

Hedge Funds Weigh In On Paysign

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Paysign by 16.8% in the first quarter. Dimensional Fund Advisors LP now owns 575,619 shares of the company’s stock valued at $3,396,000 after acquiring an additional 82,736 shares during the period. Bank of America Corp DE raised its position in Paysign by 345.9% in the first quarter. Bank of America Corp DE now owns 130,930 shares of the company’s stock worth $772,000 after purchasing an additional 101,568 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new position in shares of Paysign in the 2nd quarter worth approximately $16,983,000. OneDigital Investment Advisors LLC bought a new position in shares of Paysign during the second quarter valued at $877,000. Finally, Renaissance Technologies LLC lifted its holdings in Paysign by 17.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,531,072 shares of the company’s stock valued at $9,033,000 after purchasing an additional 227,300 shares during the last quarter. Institutional investors and hedge funds own 25.89% of the company’s stock.

Paysign Stock Performance

The stock has a 50-day moving average of $13.76 and a 200 day moving average of $8.66. The firm has a market capitalization of $545.12 million, a P/E ratio of 29.28 and a beta of 0.92.

Paysign (NASDAQ:PAYS) last released its quarterly earnings results on Monday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $30.80 million during the quarter, compared to analysts’ expectations of $29.02 million. Paysign had a return on equity of 37.20% and a net margin of 18.48%. On average, equities analysts predict that Paysign, Inc. will post 0.38 EPS for the current year.

About Paysign

Paysign, Inc. provides prepaid card programs, payment processing and related financial technology services. Its platform supports organizations that need to distribute funds and manage payments, including businesses in the healthcare sector. The company serves plasma collection centers with donor compensation and payment solutions, and works with pharmaceutical companies on patient assistance and affordability programs. Its services also support payments for clinical trials and other disbursement needs.