Insider Selling: Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Sells 100,000 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) major shareholder Daniel Spence sold 100,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.76, for a total value of $376,000.00. Following the completion of the sale, the insider now directly owns 8,990,000 shares of the company's stock, valued at approximately $33,802,400. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Paysign Price Performance

Shares of NASDAQ PAYS traded down $0.02 during mid-day trading on Friday, reaching $2.13. 430,362 shares of the company's stock were exchanged, compared to its average volume of 224,030. The firm has a 50-day moving average price of $2.62 and a two-hundred day moving average price of $3.22. The firm has a market capitalization of $114.48 million, a price-to-earnings ratio of 14.20 and a beta of 0.93. Paysign, Inc. has a 52 week low of $2.10 and a 52 week high of $5.59.

Paysign (NASDAQ:PAYS - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $15.61 million for the quarter, compared to analyst estimates of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, sell-side analysts forecast that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Paysign by 257.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 44,793 shares of the company's stock valued at $164,000 after acquiring an additional 32,245 shares during the period. Barclays PLC increased its stake in shares of Paysign by 327.4% in the third quarter. Barclays PLC now owns 47,090 shares of the company's stock worth $173,000 after purchasing an additional 36,071 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Paysign by 4.3% in the third 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of Paysign by 164.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,247 shares of the company's stock valued at $232,000 after buying an additional 39,299 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Paysign by 33.5% in the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock worth $47,000 after buying an additional 3,895 shares during the period. Hedge funds and other institutional investors own 25.89% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. DA Davidson reiterated a "buy" rating and issued a $6.00 target price on shares of Paysign in a research note on Wednesday. Lake Street Capital assumed coverage on shares of Paysign in a research report on Friday, December 20th. They issued a "buy" rating and a $6.00 price objective for the company. Finally, Barrington Research reissued an "outperform" rating and set a $7.00 target price on shares of Paysign in a research report on Wednesday.

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.