Insider Selling: Paysign, Inc. (NASDAQ:PAYS) CEO Sells 31,500 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) CEO Mark Newcomer sold 31,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $5.00, for a total value of $157,500.00. Following the sale, the chief executive officer now directly owns 8,670,886 shares of the company's stock, valued at approximately $43,354,430. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $40,000.00.
• 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

NASDAQ:PAYS traded down $0.19 during trading hours on Friday, reaching $4.86. 411,659 shares of the company traded hands, compared to its average volume of 233,151. The firm's 50-day moving average is $3.17 and its 200-day moving average is $2.91. The stock has a market cap of $263.50 million, a P/E ratio of 32.40 and a beta of 0.60. Paysign, Inc. has a 1-year low of $1.80 and a 1-year high of $5.59.

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

Wall Street Analysts Forecast Growth

PAYS has been the topic of a number of research reports. DA Davidson upped their price target on Paysign from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Barrington Research restated an "outperform" rating and issued a $7.00 price target on shares of Paysign in a report on Wednesday, March 26th. LADENBURG THALM/SH SH upped their price target on Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Lake Street Capital upped their price target on Paysign from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Topline Capital Management LLC acquired a new stake in Paysign in the 4th quarter valued at $16,946,000. 1248 Management LLC acquired a new stake in Paysign in the 4th quarter valued at $2,778,000. Millennium Management LLC increased its holdings in Paysign by 123.6% in the 4th quarter. Millennium Management LLC now owns 325,334 shares of the company's stock valued at $983,000 after purchasing an additional 179,814 shares in the last quarter. Marshall Wace LLP acquired a new stake in Paysign in the 4th quarter valued at $489,000. Finally, Renaissance Technologies LLC increased its holdings in Paysign by 11.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock valued at $4,535,000 after purchasing an additional 149,200 shares in the last quarter. 25.89% of the stock is owned by hedge funds and other 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.