Mark Newcomer Sells 46,500 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 46,500 shares of Paysign stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $5.00, for a total transaction of $232,500.00. Following the completion of the sale, the chief executive officer now owns 8,702,386 shares of the company's stock, valued at $43,511,930. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $5.00, for a total transaction 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 transaction of $157,500.00.
• On Thursday, June 5th, Mark Newcomer sold 19,693 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total transaction of $88,815.43.
• On Monday, June 2nd, Mark Newcomer sold 307 shares of Paysign stock. The shares were sold at an average price of $4.50, for a total transaction of $1,381.50.
• On Thursday, May 29th, Mark Newcomer sold 168,000 shares of Paysign stock. The shares were sold at an average price of $4.51, for a total transaction of $757,680.00.

Paysign Stock Up 4.1%

Shares of NASDAQ:PAYS traded up $0.20 during trading on Thursday, hitting $5.05. 345,936 shares of the stock traded hands, compared to its average volume of 231,679. The company has a market cap of $273.80 million, a price-to-earnings ratio of 33.67 and a beta of 0.60. The company has a fifty day moving average price of $3.05 and a two-hundred day moving average price of $2.89. Paysign, Inc. has a 52-week low of $1.80 and a 52-week high of $5.59.

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

Analysts Set New Price Targets

PAYS has been the subject of several research reports. Lake Street Capital lifted their price objective on shares of Paysign from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, May 9th. DA Davidson lifted their price objective on shares of Paysign from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH lifted their target price on shares of Paysign from $7.25 to $8.25 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $7.00 target price on shares of Paysign in a report on Wednesday, March 26th.

Institutional Investors Weigh In On Paysign

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in Paysign by 5.2% in the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company's stock worth $99,000 after acquiring an additional 2,303 shares in the last quarter. SG Americas Securities LLC increased its holdings in Paysign by 33.5% in the 4th quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock worth $47,000 after acquiring an additional 3,895 shares in the last quarter. Barclays PLC increased its holdings in Paysign by 10.8% in the 4th quarter. Barclays PLC now owns 52,178 shares of the company's stock worth $157,000 after acquiring an additional 5,088 shares in the last quarter. Royce & Associates LP increased its holdings in Paysign by 36.5% in the 1st quarter. Royce & Associates LP now owns 19,319 shares of the company's stock worth $41,000 after acquiring an additional 5,166 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock worth $46,000 after acquiring an additional 5,243 shares in the last quarter. Hedge funds and other institutional investors own 25.89% of the company's stock.

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.