Paysign (NASDAQ:PAYS) Receives Outperform Rating from Barrington Research

Paysign (NASDAQ:PAYS - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Barrington Research in a report released on Monday, Benzinga reports. They currently have a $7.00 price target on the stock. Barrington Research's target price indicates a potential upside of 91.26% from the stock's previous close.

Paysign Stock Performance

NASDAQ:PAYS traded up $0.12 during mid-day trading on Monday, reaching $3.66. 123,092 shares of the company's stock were exchanged, compared to its average volume of 253,360. Paysign has a one year low of $1.94 and a one year high of $5.59. The firm has a market capitalization of $194.49 million, a PE ratio of 26.07 and a beta of 0.95. The business's fifty day simple moving average is $4.08 and its two-hundred day simple moving average is $4.37.

Insider Buying and Selling

In related news, CEO Mark Newcomer sold 36,000 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $3.66, for a total transaction of $131,760.00. Following the transaction, the chief executive officer now directly owns 9,336,886 shares of the company's stock, valued at approximately $34,173,002.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paysign news, major shareholder Daniel Spence sold 100,000 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $3.60, for a total value of $360,000.00. Following the transaction, the insider now directly owns 9,090,000 shares of the company's stock, valued at $32,724,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Newcomer sold 36,000 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $3.66, for a total transaction of $131,760.00. Following the completion of the transaction, the chief executive officer now directly owns 9,336,886 shares in the company, valued at approximately $34,173,002.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,000 shares of company stock valued at $800,260. 23.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently bought and sold shares of PAYS. SG Americas Securities LLC bought a new position in Paysign in the 3rd quarter valued at about $43,000. Algert Global LLC bought a new stake in shares of Paysign during the 2nd quarter valued at approximately $46,000. Norden Group LLC grew its holdings in shares of Paysign by 38.7% during the 1st quarter. Norden Group LLC now owns 14,883 shares of the company's stock valued at $54,000 after purchasing an additional 4,151 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Paysign during the 2nd quarter valued at approximately $66,000. Finally, American Century Companies Inc. bought a new stake in shares of Paysign during the 2nd quarter valued at approximately $92,000. 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.