Paysign (NASDAQ:PAYS) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Paysign (NASDAQ:PAYS) from a buy rating to a hold rating in a report issued on Sunday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.56.

Paysign Stock Performance

Shares of PAYS opened at $3.23 on Friday. The company has a market capitalization of $177.78 million, a PE ratio of 24.85 and a beta of 0.99. The company’s 50 day moving average price is $3.82 and its 200 day moving average price is $4.84. Paysign has a 52 week low of $1.80 and a 52 week high of $8.88.

Hedge Funds Weigh In On Paysign

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Paysign by 4.7% during the second quarter. Rhumbline Advisers now owns 48,770 shares of the company’s stock valued at $351,000 after acquiring an additional 2,183 shares in the last quarter. Invesco Ltd. lifted its stake in Paysign by 19.1% in the second quarter. Invesco Ltd. now owns 16,942 shares of the company’s stock valued at $122,000 after acquiring an additional 2,716 shares during the last quarter. Intech Investment Management LLC grew its position in Paysign by 18.0% in the third quarter. Intech Investment Management LLC now owns 17,851 shares of the company’s stock worth $112,000 after acquiring an additional 2,723 shares in the last quarter. Alliancebernstein L.P. grew its position in Paysign by 11.6% in the third quarter. Alliancebernstein L.P. now owns 29,930 shares of the company’s stock worth $188,000 after acquiring an additional 3,100 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Paysign by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,912 shares of the company’s stock worth $43,000 after purchasing an additional 3,453 shares during the last quarter. Institutional investors and hedge funds 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.