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 Paysign stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief executive officer now directly owns 8,670,886 shares in the company, valued at $43,354,430. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $5.00, for a total transaction of $40,000.00.
• On Monday, June 9th, Mark Newcomer sold 46,500 shares of Paysign stock. The shares were sold at an average price of $5.00, for a total transaction of $232,500.00.
• 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 Performance

Shares of NASDAQ PAYS traded down $0.19 during mid-day trading on Friday, hitting $4.86. The stock had a trading volume of 411,659 shares, compared to its average volume of 232,952. Paysign, Inc. has a 1 year low of $1.80 and a 1 year high of $5.59. The business has a 50 day moving average price of $3.17 and a two-hundred day moving average price of $2.91. The firm has a market cap of $263.50 million, a P/E ratio of 32.40 and a beta of 0.60.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Paysign

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted 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 valued at $99,000 after buying an additional 2,303 shares in the last quarter. SG Americas Securities LLC boosted its stake 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 purchasing an additional 3,895 shares in the last quarter. Barclays PLC boosted its stake 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 purchasing an additional 5,088 shares in the last quarter. Royce & Associates LP boosted its stake 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 purchasing an additional 5,166 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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 purchasing an additional 5,243 shares in the last quarter. Institutional investors own 25.89% of the company's stock.

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.