DA Davidson Reiterates "Buy" Rating for Paysign (NASDAQ:PAYS)

DA Davidson restated their buy rating on shares of Paysign (NASDAQ:PAYS - Free Report) in a research report report published on Wednesday,Benzinga reports. DA Davidson currently has a $6.00 price target on the stock.

Several other analysts have also commented on PAYS. Barrington Research restated an "outperform" rating and issued a $7.00 price objective on shares of Paysign in a report on Wednesday. Lake Street Capital began coverage on Paysign in a research note on Friday, December 20th. They issued a "buy" rating and a $6.00 target price for the company.

Paysign Price Performance

PAYS traded down $0.02 during midday trading on Wednesday, reaching $2.13. 430,362 shares of the company's stock traded hands, compared to its average volume of 224,030. Paysign has a 52 week low of $2.10 and a 52 week high of $5.59. The firm has a fifty day moving average of $2.62 and a two-hundred day moving average of $3.21. The stock has a market capitalization of $114.48 million, a price-to-earnings ratio of 14.20 and a beta of 0.93.

Paysign (NASDAQ:PAYS - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $15.61 million for the quarter, compared to analysts' expectations of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. Sell-side analysts forecast that Paysign will post 0.21 EPS for the current year.

Insider Buying and Selling

In other news, CEO Mark Newcomer sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $2.85, for a total transaction of $34,200.00. Following the sale, the chief executive officer now owns 9,036,886 shares in the company, valued at $25,755,125.10. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $3.03, for a total value of $63,127.02. Following the sale, the insider now owns 5,611,128 shares in the company, valued at approximately $17,001,717.84. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 695,900 shares of company stock worth $2,106,810 in the last 90 days. Insiders own 23.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. PDT Partners LLC purchased a new position in Paysign in the 4th quarter worth about $39,000. Wells Fargo & Company MN raised its holdings in shares of Paysign by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock valued at $46,000 after purchasing an additional 5,243 shares during the last quarter. SG Americas Securities LLC lifted its position in Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock valued at $47,000 after purchasing an additional 3,895 shares during the period. Virtu Financial LLC purchased a new stake in Paysign in the fourth quarter worth approximately $78,000. Finally, Occudo Quantitative Strategies LP boosted its holdings in Paysign by 56.5% in the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company's stock worth $86,000 after purchasing an additional 10,268 shares during the last quarter. 25.89% of the stock is owned by institutional investors.

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.