Paysign (NASDAQ:PAYS) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Paysign, Inc. (NASDAQ:PAYS) shares crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $13.87 and traded as low as $12.32. Paysign shares last traded at $12.51, with a volume of 2,641,194 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. DA Davidson increased their target price on Paysign from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Weiss Ratings upgraded shares of Paysign from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Lake Street Capital lifted their price target on shares of Paysign from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Barrington Research set a $15.00 price target on shares of Paysign in a research note on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Paysign from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Three equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Paysign presently has a consensus rating of “Buy” and a consensus target price of $15.00.

Paysign Stock Performance

The company has a market capitalization of $706.31 million, a P/E ratio of 48.12 and a beta of 0.92. The stock has a fifty day moving average of $13.87 and a 200 day moving average of $8.60.

Paysign (NASDAQ:PAYS) last released its earnings results on Monday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $30.80 million during the quarter, compared to analyst estimates of $29.02 million. Paysign had a net margin of 15.67% and a return on equity of 30.13%. Research analysts anticipate that Paysign, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeffery Baker sold 35,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the sale, the chief financial officer owned 542,171 shares of the company’s stock, valued at approximately $6,842,198.02. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Newcomer sold 50,000 shares of the business’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $15.34, for a total transaction of $767,000.00. Following the sale, the chief executive officer directly owned 9,113,002 shares of the company’s stock, valued at $139,793,450.68. This represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 294,904 shares of company stock worth $3,844,124 in the last 90 days. Company insiders own 24.50% of the company’s stock.

Institutional Trading of Paysign

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Paysign in the second quarter worth $25,219,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Paysign during the 2nd quarter worth approximately $16,983,000. AWM Investment Company Inc. purchased a new position in Paysign in the second quarter valued at $6,560,000. Renaissance Technologies LLC raised its stake in shares of Paysign by 17.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,531,072 shares of the company’s stock worth $9,033,000 after buying an additional 227,300 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Paysign during the second quarter worth about $1,629,000. 25.89% of the stock is currently owned by institutional investors and hedge funds.

Paysign Company Profile

Paysign, Inc (NASDAQ: PAYS) is a financial technology company that provides payment and prepaid card solutions for businesses and organizations. Its platform supports the issuance, distribution and management of branded prepaid cards and other electronic payment products, helping clients deliver funds to consumers and program participants.

The company serves several specialized markets, including plasma collection centers, pharmaceutical manufacturers and other healthcare-related organizations.