Paysign (NASDAQ:PAYS) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Paysign (NASDAQ:PAYS) posted its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01), FiscalAI reports. The business had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $21.54 million. Paysign had a return on equity of 19.18% and a net margin of 10.10%.

Paysign Stock Up 12.9%

PAYS stock traded up $0.43 during trading on Tuesday, hitting $3.77. The company had a trading volume of 3,276,806 shares, compared to its average volume of 374,782. The firm has a 50-day moving average price of $3.79 and a 200-day moving average price of $4.83. The firm has a market cap of $207.51 million, a PE ratio of 29.00 and a beta of 0.99. Paysign has a 1-year low of $1.80 and a 1-year high of $8.88.

Analyst Ratings Changes

PAYS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Wall Street Zen downgraded Paysign from a “buy” rating to a “hold” rating in a research note on Sunday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.56.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PAYS. Invesco Ltd. lifted its holdings in shares of Paysign by 19.1% during the second quarter. Invesco Ltd. now owns 16,942 shares of the company’s stock worth $122,000 after purchasing an additional 2,716 shares during the period. Man Group plc purchased a new position in Paysign in the 3rd quarter valued at $113,000. Intech Investment Management LLC increased its stake in Paysign by 18.0% in the 3rd quarter. Intech Investment Management LLC now owns 17,851 shares of the company’s stock valued at $112,000 after buying an additional 2,723 shares during the period. Rhumbline Advisers raised its position in Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock worth $99,000 after buying an additional 2,303 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Paysign during the 2nd quarter worth $91,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.