Insider Selling: Paysign, Inc. (NASDAQ:PAYS) Insider Sells 26,521 Shares of Stock

Key Points

• Robert Strobo, an insider at Paysign, Inc., sold 26,521 shares for a total of $188,033.89, resulting in a 9.69% decrease in their ownership stake.
• Paysign recently reported a quarterly earnings of $0.05 EPS, beating estimates, with revenue of $18.60 million, exceeding analyst expectations.
• Analysts have set a target price for Paysign shares, with recent estimates ranging from $8.00 to $9.00, indicating potential growth opportunities.

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) insider Robert Strobo sold 26,521 shares of Paysign stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $7.09, for a total transaction of $188,033.89. Following the sale, the insider owned 247,290 shares in the company, valued at approximately $1,753,286.10. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Paysign Trading Down 6.2%

PAYS stock traded down $0.37 during trading on Friday, hitting $5.53. 662,172 shares of the stock traded hands, compared to its average volume of 492,824. Paysign, Inc. has a one year low of $1.80 and a one year high of $8.88. The stock has a market cap of $300.00 million, a price-to-earnings ratio of 46.21 and a beta of 0.78. The company has a 50 day simple moving average of $6.64 and a 200 day simple moving average of $4.01.

Paysign (NASDAQ:PAYS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Paysign had a net margin of 9.90% and a return on equity of 20.72%. The firm had revenue of $19.08 million for the quarter, compared to the consensus estimate of $18.69 million. As a group, analysts predict that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PAYS has been the topic of several recent research reports. Lake Street Capital lifted their target price on shares of Paysign from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday. DA Davidson set a $9.00 target price on shares of Paysign in a research report on Thursday. Finally, 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 research report on Friday, May 9th.

Hedge Funds Weigh In On Paysign

Institutional investors have recently modified their holdings of the stock. PDT Partners LLC bought a new position in shares of Paysign in the fourth quarter worth about $39,000. R Squared Ltd bought a new stake in shares of Paysign during the second quarter worth approximately $108,000. Wells Fargo & Company MN raised its stake in shares of Paysign by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,385 shares of the company's stock worth $46,000 after buying an additional 5,243 shares during the last quarter. Royce & Associates LP raised its stake in shares of Paysign by 36.5% during the first quarter. Royce & Associates LP now owns 19,319 shares of the company's stock worth $41,000 after buying an additional 5,166 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Paysign during the first quarter worth approximately $51,000. 25.89% of the stock is owned by institutional investors.

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.