DA Davidson Reaffirms Buy Rating for Paysign (NASDAQ:PAYS)

Paysign (NASDAQ:PAYS)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the stock. DA Davidson’s price objective would indicate a potential upside of 179.07% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $7.00 price objective on shares of Paysign in a research report on Wednesday. Lake Street Capital began coverage on Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 target price for the company.

Paysign Stock Performance

Shares of NASDAQ:PAYS opened at $2.15 on Wednesday. The business has a fifty day moving average of $2.64 and a 200-day moving average of $3.24. Paysign has a twelve month low of $2.10 and a twelve month high of $5.59. The firm has a market cap of $115.13 million, a PE ratio of 14.33 and a beta of 0.93.

Paysign (NASDAQ:PAYS) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. The firm had revenue of $15.61 million during the quarter, compared to analysts’ expectations of $15.42 million. On average, analysts anticipate that Paysign will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Topline Capital Partners, Lp sold 20,834 shares of Paysign stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total transaction of $63,127.02. Following the completion of the sale, the insider now directly owns 5,611,128 shares of the company’s stock, valued at $17,001,717.84. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Topline Capital Management, Ll sold 227,084 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $3.07, for a total value of $697,147.88. Following the completion of the transaction, the insider now directly owns 5,631,962 shares in the company, valued at $17,290,123.34. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 695,900 shares of company stock valued at $2,106,810 over the last ninety days. Insiders own 23.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Topline Capital Management LLC acquired a new stake in Paysign in the fourth quarter worth $16,946,000. Renaissance Technologies LLC raised its stake in Paysign by 11.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company’s stock worth $4,535,000 after buying an additional 149,200 shares during the period. 1248 Management LLC bought a new position in Paysign during the fourth quarter worth about $2,778,000. Millennium Management LLC lifted its holdings in Paysign by 123.6% during the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock worth $983,000 after acquiring an additional 179,814 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Paysign by 4.5% in the fourth quarter. Northern Trust Corp now owns 274,005 shares of the company’s stock valued at $827,000 after acquiring an additional 11,806 shares during the period. Institutional investors and hedge funds own 25.89% of the company’s stock.

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.