Paysign (NASDAQ:PAYS) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Paysign (NASDAQ:PAYS) in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 price objective on the stock.

Separately, Barrington Research restated an “outperform” rating and issued a $7.00 price objective on shares of Paysign in a research note on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.13.

Paysign Stock Performance

Shares of NASDAQ PAYS opened at $2.99 on Friday. The stock’s 50-day simple moving average is $3.52 and its 200-day simple moving average is $4.07. The firm has a market capitalization of $160.11 million, a PE ratio of 19.93 and a beta of 0.93. Paysign has a fifty-two week low of $2.40 and a fifty-two week high of $5.59.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The company had revenue of $15.26 million for the quarter, compared to analysts’ expectations of $14.96 million. During the same quarter last year, the company earned $0.02 earnings per share. On average, sell-side analysts forecast that Paysign will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Paysign

In other Paysign news, insider Matthew Louis Lanford sold 25,360 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $3.96, for a total transaction of $100,425.60. Following the completion of the sale, the insider now directly owns 109,731 shares of the company’s stock, valued at $434,534.76. This represents a 18.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Newcomer sold 40,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $3.24, for a total value of $129,600.00. Following the sale, the chief executive officer now directly owns 9,296,886 shares of the company’s stock, valued at $30,121,910.64. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,360 shares of company stock worth $1,021,746. Insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Paysign

Large investors have recently modified their holdings of the stock. Joule Financial LLC purchased a new position in Paysign in the 3rd quarter valued at $1,478,000. Renaissance Technologies LLC lifted its stake in shares of Paysign by 25.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company’s stock worth $6,484,000 after acquiring an additional 301,000 shares during the period. Royce & Associates LP purchased a new stake in shares of Paysign in the third quarter valued at about $814,000. Sanctuary Advisors LLC acquired a new position in shares of Paysign during the second quarter worth about $512,000. Finally, Dimensional Fund Advisors LP raised its holdings in Paysign by 51.5% during the second quarter. Dimensional Fund Advisors LP now owns 116,779 shares of the company’s stock worth $502,000 after purchasing an additional 39,710 shares in the last quarter. Hedge funds and other 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.