JPMorgan Chase & Co. Grows Stock Holdings in Paysign, Inc. (NASDAQ:PAYS)

JPMorgan Chase & Co. raised its stake in Paysign, Inc. (NASDAQ:PAYS) by 164.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,247 shares of the company’s stock after buying an additional 39,299 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Paysign worth $232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Paysign in the third quarter valued at $43,000. Algert Global LLC purchased a new stake in Paysign in the 2nd quarter valued at about $46,000. The Manufacturers Life Insurance Company acquired a new position in shares of Paysign during the 2nd quarter valued at about $66,000. American Century Companies Inc. purchased a new position in shares of Paysign during the 2nd quarter worth about $92,000. Finally, Bard Associates Inc. acquired a new stake in shares of Paysign in the third quarter worth approximately $103,000. 25.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $7.00 price objective on shares of Paysign in a report on Monday, November 4th. Lake Street Capital assumed coverage on Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 price target for the company.

Insider Buying and Selling

In related news, insider Matthew Louis Lanford sold 25,360 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 approximately $434,534.76. This represents a 18.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of Paysign stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total value of $63,127.02. Following the completion of the transaction, 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. Over the last three months, insiders sold 958,447 shares of company stock worth $3,046,524. 23.40% of the stock is owned by company insiders.

Paysign Trading Down 3.3 %

Shares of NASDAQ PAYS opened at $2.66 on Friday. Paysign, Inc. has a 12-month low of $2.64 and a 12-month high of $5.59. The company has a market cap of $142.44 million, a PE ratio of 17.73 and a beta of 0.95. The stock has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.86.

Paysign (NASDAQ:PAYS) last released its earnings results 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. The firm had revenue of $15.26 million during the quarter, compared to the consensus estimate of $14.96 million. Paysign had a return on equity of 30.64% and a net margin of 14.28%. During the same period in the prior year, the firm posted $0.02 earnings per share. Sell-side analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

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.