Paysign (NASDAQ:PAYS) Shares Down 3% - What's Next?

Paysign, Inc. (NASDAQ:PAYS - Get Free Report)'s share price fell 3% during mid-day trading on Tuesday . The stock traded as low as $7.97 and last traded at $8.01. 1,006,220 shares were traded during trading, an increase of 247% from the average session volume of 289,839 shares. The stock had previously closed at $8.26.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAYS. Lake Street Capital lifted their price objective on shares of Paysign from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. DA Davidson set a $8.00 price objective on shares of Paysign in a research report on Friday, June 13th. LADENBURG THALM/SH SH boosted their price target 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. Finally, Barrington Research reissued an "outperform" rating and issued a $7.00 price target on shares of Paysign in a research report on Wednesday, March 26th.

Paysign Stock Up 6.1%

The stock has a market capitalization of $460.87 million, a PE ratio of 77.28 and a beta of 0.75. The business's 50-day moving average is $4.70 and its two-hundred day moving average is $3.32.

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 9.55% and a return on equity of 19.49%. The business had revenue of $18.60 million during the quarter, compared to analysts' expectations of $17.49 million. As a group, analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current year.

Insider Transactions at Paysign

In other news, CEO Mark Newcomer sold 8,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $5.00, for a total transaction of $40,000.00. Following the transaction, the chief executive officer directly owned 8,662,886 shares in the company, valued at $43,314,430. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel R. Henry purchased 10,084 shares of the company's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $4.96 per share, for a total transaction of $50,016.64. Following the completion of the purchase, the director owned 129,884 shares of the company's stock, valued at approximately $644,224.64. This trade represents a 8.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 274,000 shares of company stock valued at $1,277,877 over the last ninety days. Corporate insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PAYS. Topline Capital Management LLC acquired a new position in shares of Paysign during the fourth quarter worth about $16,946,000. 1248 Management LLC purchased a new stake in Paysign during the fourth quarter worth about $2,778,000. Millennium Management LLC boosted its holdings in Paysign by 123.6% during the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company's stock worth $983,000 after buying an additional 179,814 shares in the last quarter. Marshall Wace LLP purchased a new stake in Paysign during the fourth quarter worth about $489,000. Finally, Renaissance Technologies LLC boosted its holdings 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 buying an additional 149,200 shares in the last quarter. 25.89% of the stock is currently owned by institutional investors and hedge funds.

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.