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

Paysign (NASDAQ:PAYS)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. DA Davidson’s price target indicates a potential upside of 179.07% from the stock’s previous close.

PAYS has been the subject of several other reports. Barrington Research reissued an “outperform” rating and issued a $7.00 price objective on shares of Paysign in a research report on Wednesday. Lake Street Capital initiated coverage on shares of Paysign in a report on Friday, December 20th. They issued a “buy” rating and a $6.00 price target for the company.

Paysign Price Performance

Shares of PAYS opened at $2.15 on Wednesday. The company has a market capitalization of $115.13 million, a PE ratio of 14.33 and a beta of 0.93. Paysign has a one year low of $2.10 and a one year high of $5.59. The company’s fifty day moving average price is $2.64 and its 200 day moving average price is $3.24.

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

Insider Transactions at Paysign

In other news, CEO Mark Newcomer sold 12,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $2.85, for a total transaction of $34,200.00. Following the completion of the transaction, the chief executive officer now directly owns 9,036,886 shares of the company’s stock, valued at approximately $25,755,125.10. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were 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 directly owns 5,611,128 shares in the company, valued at approximately $17,001,717.84. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 695,900 shares of company stock valued at $2,106,810. 23.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paysign

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in Paysign by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock valued at $47,000 after acquiring an additional 3,895 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Paysign by 4.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock valued at $419,000 after purchasing an additional 5,000 shares in the last quarter. Barclays PLC grew its holdings in shares of Paysign by 10.8% in the 4th quarter. Barclays PLC now owns 52,178 shares of the company’s stock worth $157,000 after purchasing an additional 5,088 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Paysign by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock worth $46,000 after purchasing an additional 5,243 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Paysign by 13.7% during the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company’s stock valued at $134,000 after purchasing an additional 5,339 shares during the last quarter. 25.89% of the stock is owned by institutional investors and hedge funds.

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.