Paysign (NASDAQ:PAYS) Price Target Raised to $6.00

Paysign (NASDAQ:PAYS) had its price target upped by investment analysts at Maxim Group from $5.50 to $6.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 31.29% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on PAYS. Barrington Research restated an “outperform” rating and set a $5.50 price objective on shares of Paysign in a research report on Monday. DA Davidson increased their target price on shares of Paysign from $4.50 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, April 30th.

Paysign Trading Down 2.1 %

Shares of PAYS stock traded down $0.10 during mid-day trading on Wednesday, reaching $4.57. The stock had a trading volume of 153,940 shares, compared to its average volume of 370,042. Paysign has a 1-year low of $1.67 and a 1-year high of $4.80. The firm has a market cap of $242.07 million, a price-to-earnings ratio of 38.08 and a beta of 0.98. The business’s fifty day moving average is $3.84 and its 200-day moving average is $3.03.

Paysign (NASDAQ:PAYS) last issued its earnings results on Tuesday, March 26th. The company reported $0.10 EPS for the quarter. The firm had revenue of $13.69 million for the quarter, compared to the consensus estimate of $11.57 million. Paysign had a return on equity of 34.33% and a net margin of 13.66%. On average, analysts forecast that Paysign will post 0.22 earnings per share for the current year.

Insider Activity

In related news, major shareholder Topline Capital Partners, Lp acquired 25,082 shares of Paysign stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $3.08 per share, for a total transaction of $77,252.56. Following the completion of the purchase, the insider now owns 5,761,918 shares in the company, valued at $17,746,707.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Paysign news, major shareholder Topline Capital Partners, Lp bought 25,082 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $3.08 per share, with a total value of $77,252.56. Following the purchase, the insider now owns 5,761,918 shares in the company, valued at approximately $17,746,707.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Topline Capital Management, Ll bought 86,978 shares of Paysign stock in a transaction that occurred on Thursday, March 7th. The shares were acquired at an average price of $2.99 per share, for a total transaction of $260,064.22. Following the completion of the transaction, the insider now directly owns 5,943,619 shares of the company’s stock, valued at approximately $17,771,420.81. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 476,086 shares of company stock valued at $1,416,208. 23.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Norden Group LLC raised its holdings in Paysign by 38.7% in the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after buying an additional 4,151 shares during the period. Bridge City Capital LLC acquired a new position in shares of Paysign during the 3rd quarter valued at $61,000. Portside Wealth Group LLC boosted its position in Paysign by 33.7% during the 3rd quarter. Portside Wealth Group LLC now owns 33,740 shares of the company’s stock worth $68,000 after purchasing an additional 8,508 shares during the period. Spouting Rock Asset Management LLC increased its holdings in Paysign by 39.0% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company’s stock valued at $74,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Paysign by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,205 shares of the company’s stock valued at $74,000 after purchasing an additional 5,874 shares during the period. 25.89% of the stock is owned by hedge funds and other institutional investors.

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.