Paysign, Inc. (NASDAQ:PAYS) Receives $8.56 Average PT from Brokerages

Shares of Paysign, Inc. (NASDAQ:PAYS) have received an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.5625.

A number of analysts have recently issued reports on PAYS shares. Wall Street Zen lowered Paysign from a “buy” rating to a “hold” rating in a report on Saturday. DA Davidson reissued a “buy” rating and issued a $9.00 price objective on shares of Paysign in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paysign in a research note on Thursday, January 22nd.

Paysign Stock Performance

Shares of NASDAQ:PAYS opened at $3.55 on Monday. The firm has a 50 day simple moving average of $4.28 and a 200 day simple moving average of $5.03. Paysign has a 52 week low of $1.80 and a 52 week high of $8.88. The company has a market cap of $195.39 million, a PE ratio of 27.31 and a beta of 0.96.

Insiders Place Their Bets

In other Paysign news, insider Robert Strobo sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $5.47, for a total value of $109,400.00. Following the transaction, the insider owned 327,290 shares in the company, valued at approximately $1,790,276.30. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Paysign

Institutional investors and hedge funds have recently modified their holdings of the stock. Topline Capital Management LLC raised its holdings in shares of Paysign by 0.4% during the third quarter. Topline Capital Management LLC now owns 5,445,188 shares of the company’s stock worth $34,250,000 after acquiring an additional 23,451 shares in the last quarter. Vanguard Group Inc. increased its position in Paysign by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,820,371 shares of the company’s stock worth $11,450,000 after purchasing an additional 29,150 shares during the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Paysign by 164.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after purchasing an additional 909,825 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Paysign by 14.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,457,941 shares of the company’s stock valued at $7,508,000 after buying an additional 187,767 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Paysign by 15.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,303,772 shares of the company’s stock valued at $6,714,000 after buying an additional 177,350 shares in the last quarter. 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.