Maxim Group Boosts Paysign (NASDAQ:PAYS) Price Target to $6.00

Paysign (NASDAQ:PAYS) had its target price raised by Maxim Group from $5.50 to $6.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

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

Paysign Trading Up 7.7 %

PAYS stock traded up $0.35 during midday trading on Wednesday, hitting $4.92. 318,278 shares of the company’s stock were exchanged, compared to its average volume of 372,252. The stock has a market capitalization of $260.61 million, a price-to-earnings ratio of 40.58 and a beta of 0.98. The firm has a 50 day moving average price of $3.87 and a 200-day moving average price of $3.04. Paysign has a 12-month low of $1.67 and a 12-month high of $4.92.

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

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll bought 25,736 shares of the stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $3.03 per share, with a total value of $77,980.08. Following the purchase, the insider now owns 5,710,392 shares in the company, valued at $17,302,487.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Paysign news, major shareholder Topline Capital Partners, Lp purchased 51,300 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $2.93 per share, for a total transaction of $150,309.00. Following the completion of the transaction, the insider now owns 6,099,317 shares in the company, valued at $17,870,998.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Topline Capital Management, Ll acquired 25,736 shares of Paysign stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of $3.03 per share, with a total value of $77,980.08. Following the transaction, the insider now owns 5,710,392 shares in the company, valued at approximately $17,302,487.76. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 476,086 shares of company stock worth $1,416,208. 23.30% of the stock is owned by company insiders.

Institutional Trading of Paysign

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYS. Owls Nest Partners IA LLC boosted its holdings in shares of Paysign by 1.5% in the fourth quarter. Owls Nest Partners IA LLC now owns 261,661 shares of the company’s stock worth $733,000 after buying an additional 3,853 shares during the period. Norden Group LLC lifted its position in shares of Paysign by 38.7% in the 1st quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after acquiring an additional 4,151 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Paysign by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,205 shares of the company’s stock worth $74,000 after purchasing an additional 5,874 shares during the period. Portside Wealth Group LLC grew 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 in the last quarter. Finally, Spouting Rock Asset Management LLC grew its position in Paysign by 39.0% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company’s stock worth $74,000 after purchasing an additional 10,700 shares in the last quarter. 25.89% of the stock is owned by institutional investors and hedge funds.

About Paysign

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.