Lake Street Capital Raises Paysign (NASDAQ:PAYS) Price Target to $10.00

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 objective raised by Lake Street Capital from $9.00 to $10.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

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

Paysign Price Performance

Shares of PAYS stock traded down $0.28 during mid-day trading on Wednesday, hitting $5.61. The stock had a trading volume of 1,282,804 shares, compared to its average volume of 1,045,148. Paysign has a 12-month low of $1.80 and a 12-month high of $8.88. The firm has a market capitalization of $305.46 million, a P/E ratio of 46.75 and a beta of 0.78. The firm's 50-day moving average is $6.66 and its two-hundred day moving average is $4.04.

Paysign (NASDAQ:PAYS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Paysign had a return on equity of 19.32% and a net margin of 9.90%. The firm had revenue of $19.08 million during the quarter, compared to analysts' expectations of $18.69 million. Analysts expect that Paysign will post 0.21 EPS for the current year.

Insider Transactions at Paysign

In related news, CFO Jeffery Bradford Baker sold 30,396 shares of the company's 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 transaction, the chief financial officer directly owned 252,273 shares of the company's stock, valued at $1,788,615.57. This represents a 10.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Newcomer sold 168,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $4.51, for a total value of $757,680.00. Following the transaction, the chief executive officer directly owned 8,768,886 shares in the company, valued at $39,547,675.86. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,602 shares of company stock worth $2,409,455. Company insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in 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. Barclays PLC increased its holdings in shares of Paysign by 10.8% in the fourth quarter. Barclays PLC now owns 52,178 shares of the company's stock valued at $157,000 after purchasing an additional 5,088 shares during the period. Royce & Associates LP increased its holdings in shares of Paysign by 36.5% in the first quarter. Royce & Associates LP now owns 19,319 shares of the company's stock valued at $41,000 after purchasing an additional 5,166 shares during the period. Wells Fargo & Company MN raised its stake in shares of Paysign by 51.7% in the fourth 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 during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Paysign by 20.9% in the fourth quarter. Bank of America Corp DE now owns 47,675 shares of the company's stock worth $144,000 after purchasing an additional 8,235 shares during the last quarter. 25.89% of the stock is owned by institutional investors and hedge funds.

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.