Insider Selling: Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Sells 20,834 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) major shareholder Topline Capital Partners, Lp sold 20,834 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Paysign Price Performance

Shares of PAYS traded down $0.05 during mid-day trading on Tuesday, reaching $3.02. The stock had a trading volume of 231,026 shares, compared to its average volume of 247,984. The firm has a market cap of $161.71 million, a price-to-earnings ratio of 20.13 and a beta of 0.93. The business's fifty day moving average is $3.41 and its 200 day moving average is $4.02. Paysign, Inc. has a 52-week low of $2.40 and a 52-week high of $5.59.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The business had revenue of $15.26 million during the quarter, compared to analysts' expectations of $14.96 million. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, sell-side analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

PAYS has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and set a $7.00 target price on shares of Paysign in a research report on Monday, November 4th. Lake Street Capital initiated coverage on shares of Paysign in a report on Friday, December 20th. They set a "buy" rating and a $6.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $6.13.

Institutional Investors Weigh In On Paysign

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in shares of Paysign by 25.0% in the second quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company's stock worth $6,484,000 after acquiring an additional 301,000 shares in the last quarter. Royce & Associates LP purchased a new position in Paysign in the third quarter valued at $814,000. Rhumbline Advisers grew its stake in Paysign by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company's stock worth $154,000 after purchasing an additional 7,190 shares in the last quarter. Joule Financial LLC acquired a new position in Paysign during the 3rd quarter worth $1,478,000. Finally, BNP Paribas Financial Markets increased its holdings in Paysign by 257.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 44,793 shares of the company's stock worth $164,000 after purchasing an additional 32,245 shares during the period. 25.89% of the stock is currently owned by institutional investors and hedge funds.

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.