DA Davidson Increases PaySign (NASDAQ:PAYS) Price Target to $4.50

PaySign (NASDAQ:PAYS - Get Free Report) had its price objective increased by stock analysts at DA Davidson from $4.00 to $4.50 in a report released on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's target price suggests a potential upside of 9.49% from the stock's current price.

PAYS has been the subject of a number of other reports. Barrington Research reaffirmed an "outperform" rating and issued a $5.50 price target on shares of PaySign in a research note on Wednesday, March 27th. TheStreet raised shares of PaySign from a "d+" rating to a "c-" rating in a research note on Wednesday, January 3rd.

PaySign Stock Performance

Shares of NASDAQ:PAYS traded up $0.45 during trading on Monday, reaching $4.11. The company had a trading volume of 1,298,150 shares, compared to its average volume of 392,339. The firm's fifty day moving average is $3.14 and its 200 day moving average is $2.56. The firm has a market capitalization of $216.82 million, a PE ratio of 34.25 and a beta of 1.06. PaySign has a twelve month low of $1.67 and a twelve month high of $4.53.

Insider Activity at PaySign

In other PaySign news, major shareholder Topline Capital Partners, Lp bought 51,300 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $2.93 per share, with a total value of $150,309.00. Following the completion of the purchase, the insider now directly owns 6,099,317 shares in the company, valued at $17,870,998.81. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Topline Capital Management, Ll purchased 19,098 shares of the business's stock in a transaction dated Tuesday, January 23rd. The shares were acquired at an average price of $2.74 per share, for a total transaction of $52,328.52. Following the completion of the acquisition, the insider now directly owns 5,375,970 shares of the company's stock, valued at $14,730,157.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp purchased 51,300 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $2.93 per share, for a total transaction of $150,309.00. Following the acquisition, the insider now directly owns 6,099,317 shares of the company's stock, valued at $17,870,998.81. The disclosure for this purchase can be found here. Insiders acquired a total of 691,570 shares of company stock valued at $2,046,811 over the last ninety days. Insiders own 23.40% of the company's stock.

Institutional Investors Weigh In On PaySign

Large investors have recently made changes to their positions in the company. Spouting Rock Asset Management LLC raised its holdings in shares of PaySign by 39.0% during the third quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company's stock valued at $74,000 after acquiring an additional 10,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased 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 valued at $74,000 after buying an additional 5,874 shares during the period. Portside Wealth Group LLC increased its stake in PaySign by 33.7% in the 3rd quarter. Portside Wealth Group LLC now owns 33,740 shares of the company's stock valued at $68,000 after buying an additional 8,508 shares during the period. Bridge City Capital LLC acquired a new position in PaySign in the 3rd quarter valued at approximately $61,000. Finally, Citigroup Inc. acquired a new position in PaySign in the 1st quarter valued at approximately $198,000. Institutional investors and hedge funds own 25.89% of the company's stock.

About PaySign

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, data and analytics, and customer services. The company also offers 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.