Wall Street Zen Upgrades Paysign (NASDAQ:PAYS) to “Buy”

Paysign (NASDAQ:PAYS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other research analysts have also commented on PAYS. DA Davidson reiterated a “buy” rating and issued a $9.00 price target on shares of Paysign in a research report on Thursday, March 26th. Lake Street Capital boosted their price objective on Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Paysign has an average rating of “Moderate Buy” and a consensus target price of $9.42.

Paysign Stock Up 2.4%

PAYS stock opened at $5.90 on Monday. Paysign has a 52 week low of $1.80 and a 52 week high of $8.88. The company has a fifty day simple moving average of $3.86 and a two-hundred day simple moving average of $4.83. The firm has a market capitalization of $325.62 million, a P/E ratio of 45.39 and a beta of 0.99.

Paysign (NASDAQ:PAYS) last posted its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $22.76 million during the quarter, compared to the consensus estimate of $21.54 million. Paysign had a return on equity of 17.19% and a net margin of 9.21%. As a group, analysts anticipate that Paysign will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Paysign

Several institutional investors have recently made changes to their positions in PAYS. Topline Capital Management LLC boosted its position in Paysign by 0.4% in the 3rd quarter. Topline Capital Management LLC now owns 5,445,188 shares of the company’s stock valued at $34,250,000 after buying an additional 23,451 shares during the period. Vanguard Group Inc. increased its position in shares of Paysign by 1.6% during the third quarter. Vanguard Group Inc. now owns 1,820,371 shares of the company’s stock worth $11,450,000 after acquiring an additional 29,150 shares during the period. Punch & Associates Investment Management Inc. raised its stake in shares of Paysign by 164.6% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock valued at $7,532,000 after acquiring an additional 909,825 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Paysign by 14.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,457,941 shares of the company’s stock valued at $7,508,000 after acquiring an additional 187,767 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Paysign by 15.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,303,772 shares of the company’s stock valued at $6,714,000 after purchasing an additional 177,350 shares during the period. Institutional investors own 25.89% of the company’s stock.

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.