Lake Street Capital Issues Positive Forecast for Paysign (NASDAQ:PAYS) Stock Price

Key Points

• Lake Street Capital has raised its price target for Paysign from $9.00 to $10.00, indicating a potential upside of 91.57% from the current share price.
• Paysign's stock is currently down 26.7%, trading at $5.22, with analysts noting a 52-week low of $1.80 and high of $8.88.
• Recent insider activity includes sales by executives, with a total of 433,602 shares sold valued at $2,409,455 over the last 90 days, reflecting decreased ownership percentages among insiders.

Paysign (NASDAQ:PAYS - Free Report) had its price target upped by Lake Street Capital from $9.00 to $10.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

PAYS has been the topic of several other research reports. DA Davidson set a $8.00 price objective on Paysign in a research note on Friday, June 13th. LADENBURG THALM/SH SH increased their target price on Paysign from $7.25 to $8.25 and gave the stock a "buy" rating in a report on Friday, May 9th.

Paysign Stock Down 6.3%

Paysign stock traded down $0.37 during mid-day trading on Wednesday, hitting $5.53. 662,172 shares of the company's stock were exchanged, compared to its average volume of 492,824. The firm has a market capitalization of $299.84 million, a P/E ratio of 46.21 and a beta of 0.78. Paysign has a fifty-two week low of $1.80 and a fifty-two week high of $8.88. The company's 50 day simple moving average is $6.64 and its 200-day simple moving average is $4.01.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $19.08 million for the quarter, compared to analyst estimates of $18.69 million. Paysign had a return on equity of 20.72% and a net margin of 9.90%. Research analysts expect that Paysign will post 0.21 EPS for the current year.

Insider Activity

In other Paysign news, CFO Jeffery Bradford Baker sold 30,396 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $7.09, for a total transaction of $215,507.64. Following the completion of the transaction, the chief financial officer owned 252,273 shares in the company, valued at approximately $1,788,615.57. This represents a 10.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Strobo sold 26,521 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $7.09, for a total value of $188,033.89. Following the completion of the transaction, the insider owned 247,290 shares of the company's stock, valued at $1,753,286.10. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 433,602 shares of company stock worth $2,409,455. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently modified their holdings of PAYS. JPMorgan Chase & Co. grew its holdings in Paysign by 145.6% during the fourth quarter. JPMorgan Chase & Co. now owns 155,347 shares of the company's stock worth $469,000 after purchasing an additional 92,100 shares during the period. Wells Fargo & Company MN lifted its position in 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 acquiring an additional 5,243 shares during the last quarter. Renaissance Technologies LLC lifted its position in Paysign by 11.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock worth $4,535,000 after acquiring an additional 149,200 shares during the last quarter. Barclays PLC lifted its position in Paysign by 10.8% during the fourth quarter. Barclays PLC now owns 52,178 shares of the company's stock worth $157,000 after acquiring an additional 5,088 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Paysign during the fourth quarter worth approximately $489,000. 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.