Paysign (NASDAQ:PAYS) PT Raised to $6.00

Paysign (NASDAQ:PAYS - Free Report) had its price objective boosted by Maxim Group from $5.50 to $6.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on PAYS. Barrington Research reissued an outperform rating and issued a $5.50 price target on shares of Paysign in a research note on Monday. DA Davidson raised their price target on shares of Paysign from $4.50 to $5.50 and gave the stock a buy rating in a report on Tuesday, April 30th.

Paysign Stock Down 2.1 %

Shares of NASDAQ:PAYS traded down $0.10 during midday trading on Wednesday, hitting $4.57. The stock had a trading volume of 388,687 shares, compared to its average volume of 372,810. The company has a market capitalization of $242.07 million, a P/E ratio of 38.08 and a beta of 0.98. The company's 50-day moving average price is $3.87 and its 200-day moving average price is $3.04. Paysign has a fifty-two week low of $1.67 and a fifty-two week high of $4.80.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $13.69 million for the quarter, compared to analyst estimates of $11.57 million. Paysign had a return on equity of 34.33% and a net margin of 13.66%. Research analysts expect that Paysign will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paysign news, insider Topline Capital Management, Ll purchased 25,736 shares of the business's stock in a transaction on Friday, February 16th. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $77,980.08. Following the acquisition, the insider now owns 5,710,392 shares of the company's stock, valued at $17,302,487.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Topline Capital Management, Ll acquired 25,736 shares of the company's stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $3.03 per share, for a total transaction of $77,980.08. Following the completion of the acquisition, the insider now owns 5,710,392 shares of the company's stock, valued at $17,302,487.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 25,082 shares of Paysign stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average price of $3.08 per share, with a total value of $77,252.56. Following the completion of the purchase, the insider now owns 5,761,918 shares in the company, valued at $17,746,707.44. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 476,086 shares of company stock worth $1,416,208. 23.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paysign

A number of large investors have recently modified their holdings of PAYS. Bridge City Capital LLC bought a new position in shares of Paysign in the third quarter worth approximately $61,000. BNP Paribas Financial Markets boosted its holdings in shares of Paysign by 49.7% in the 1st quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company's stock worth $144,000 after purchasing an additional 13,093 shares in the last quarter. Spouting Rock Asset Management LLC lifted its position in Paysign by 39.0% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company's stock worth $74,000 after buying an additional 10,700 shares during the last quarter. Portside Wealth Group LLC boosted its stake in shares of 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 purchasing an additional 8,508 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paysign by 18.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,205 shares of the company's stock worth $74,000 after purchasing an additional 5,874 shares during the last quarter. 25.89% of the stock is currently owned by institutional investors.

Paysign Company 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.