Paysign, Inc. (NASDAQ:PAYS) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Paysign, Inc. (NASDAQ:PAYS - Free Report) by 123.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 325,334 shares of the company's stock after buying an additional 179,814 shares during the quarter. Millennium Management LLC owned about 0.61% of Paysign worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PAYS. Topline Capital Management LLC purchased a new position in shares of Paysign during the 4th quarter worth about $16,946,000. 1248 Management LLC purchased a new position in shares of Paysign in the 4th quarter worth $2,778,000. Marshall Wace LLP acquired a new position in Paysign in the fourth quarter valued at $489,000. Renaissance Technologies LLC boosted its holdings in Paysign by 11.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock valued at $4,535,000 after acquiring an additional 149,200 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Paysign by 145.6% during the fourth quarter. JPMorgan Chase & Co. now owns 155,347 shares of the company's stock valued at $469,000 after acquiring an additional 92,100 shares during the period. 25.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Lake Street Capital raised their price objective on Paysign from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, May 9th. DA Davidson raised their price target on shares of Paysign from $5.00 to $6.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. LADENBURG THALM/SH SH lifted their price target on shares of Paysign from $7.25 to $8.25 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Barrington Research reissued an "outperform" rating and issued a $7.00 price objective on shares of Paysign in a research report on Wednesday, March 26th.

Insider Buying and Selling

In other Paysign news, CEO Mark Newcomer sold 168,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $4.51, for a total value of $757,680.00. Following the transaction, the chief executive officer now directly owns 8,768,886 shares of the company's stock, valued at $39,547,675.86. This represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel R. Henry purchased 19,800 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $3.42 per share, with a total value of $67,716.00. Following the transaction, the director now directly owns 99,800 shares of the company's stock, valued at approximately $341,316. This represents a 24.75% increase in their position. The disclosure for this purchase can be found here. Insiders own 22.40% of the company's stock.

Paysign Price Performance

Paysign stock traded up $0.22 during midday trading on Friday, hitting $4.93. 264,260 shares of the company were exchanged, compared to its average volume of 227,400. The company has a market cap of $267.29 million, a PE ratio of 32.87 and a beta of 0.23. Paysign, Inc. has a fifty-two week low of $1.80 and a fifty-two week high of $5.59. The company's fifty day moving average price is $2.83 and its 200-day moving average price is $2.85.

Paysign (NASDAQ:PAYS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $18.60 million for the quarter, compared to analysts' expectations of $17.49 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. On average, analysts expect that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Paysign Profile

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.