Insider Selling: Paysign, Inc. (NASDAQ:PAYS) CEO Sells 62,158 Shares of Stock

Key Points

• Mark Newcomer, CEO of Paysign, Inc., sold 62,158 shares of the company stock for approximately $440,700 on August 4th, decreasing his ownership by 0.71% but still retaining nearly 8.75 million shares valued at over $62 million.
• Paysign, Inc. reported $0.05 earnings per share for the most recent quarter, exceeding analysts' expectations, with revenues totaling $18.60 million.
• Investment firms have shown interest in Paysign, with institutional investors owning 25.89% of the stock, including new stakes from PDT Partners and R Squared Ltd.

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 62,158 shares of Paysign stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $7.09, for a total value of $440,700.22. Following the completion of the sale, the chief executive officer directly owned 8,750,728 shares in the company, valued at $62,042,661.52. This represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mark Newcomer also recently made the following trade(s):

• On Wednesday, June 11th, Mark Newcomer sold 8,000 shares of Paysign stock. The shares were sold at an average price of $5.00, for a total value of $40,000.00.
• On Tuesday, June 10th, Mark Newcomer sold 31,500 shares of Paysign stock. The shares were sold at an average price of $5.00, for a total value of $157,500.00.
• On Monday, June 9th, Mark Newcomer sold 46,500 shares of Paysign stock. The stock was sold at an average price of $5.00, for a total value of $232,500.00.
• On Thursday, June 5th, Mark Newcomer sold 19,693 shares of Paysign stock. The stock was sold at an average price of $4.51, for a total value of $88,815.43.
• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The stock was sold at an average price of $4.50, for a total value of $1,381.50.
• On Thursday, May 29th, Mark Newcomer sold 168,000 shares of Paysign stock. The stock was sold at an average price of $4.51, for a total value of $757,680.00.

Paysign Price Performance

PAYS traded down $0.37 during trading on Friday, hitting $5.53. The company's stock had a trading volume of 662,172 shares, compared to its average volume of 492,824. The firm's 50 day moving average price is $6.64 and its 200-day moving average price is $4.01. The stock has a market cap of $300.00 million, a PE ratio of 46.21 and a beta of 0.78. Paysign, Inc. has a twelve month low of $1.80 and a twelve month high of $8.88.

Paysign (NASDAQ:PAYS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The firm had revenue of $19.08 million for the quarter, compared to analyst estimates of $18.69 million. Paysign had a return on equity of 20.72% and a net margin of 9.90%. Equities analysts anticipate that Paysign, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PAYS. Lake Street Capital boosted their price target on Paysign from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday. LADENBURG THALM/SH SH upped their target price on Paysign from $7.25 to $8.25 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, DA Davidson set a $9.00 target price on Paysign in a research note on Thursday.

Institutional Trading of Paysign

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company's stock worth $99,000 after buying an additional 2,303 shares during the last quarter. Barclays PLC boosted its position in Paysign by 10.8% during the 4th quarter. Barclays PLC now owns 52,178 shares of the company's stock worth $157,000 after purchasing an additional 5,088 shares during the period. Royce & Associates LP boosted its position in Paysign by 36.5% during the 1st quarter. Royce & Associates LP now owns 19,319 shares of the company's stock worth $41,000 after purchasing an additional 5,166 shares during the period. Wells Fargo & Company MN boosted its position in Paysign by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock worth $46,000 after purchasing an additional 5,243 shares during the period. Finally, Bank of America Corp DE boosted its position in Paysign by 20.9% during the 4th quarter. Bank of America Corp DE now owns 47,675 shares of the company's stock worth $144,000 after purchasing an additional 8,235 shares during the period. 25.89% of the stock is currently 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.