Paysign (NASDAQ:PAYS) Shares Down 5.4% - Here's What Happened

Key Points

• Paysign shares fell 5.4% in Monday’s mid-day trading, closing at $13.90 after reaching a low of $14.25; trading volume was 38% below its average.
• Analyst sentiment remained positive: Paysign had an average Buy rating and a consensus price target of $15.00.
• Company insiders sold 294,904 shares worth about $3.84 million over the past 90 days, while institutional investors and hedge funds own 25.89% of the stock.

Paysign, Inc. (NASDAQ:PAYS - Get Free Report)'s share price dropped 5.4% during mid-day trading on Monday. The stock traded as low as $14.25 and last traded at $13.90. Approximately 451,324 shares were traded during trading, a decline of 38% from the average session volume of 729,734 shares. The stock had previously closed at $14.69.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings raised Paysign from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. DA Davidson raised their price objective on shares of Paysign from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, September 30th. Wall Street Zen cut shares of Paysign from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Barrington Research set a $15.00 target price on shares of Paysign in a research note on Tuesday, August 11th. Finally, Lake Street Capital boosted their target price on shares of Paysign from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, September 15th. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Paysign presently has an average rating of "Buy" and a consensus price target of $15.00.

Paysign Trading Down 6.8%

The firm has a market cap of $772.66 million, a price-to-earnings ratio of 51.65 and a beta of 0.92. The stock has a fifty day moving average price of $13.88 and a 200 day moving average price of $8.56.

Insider Buying and Selling

In related news, EVP Joan M. Herman sold 38,900 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $11.74, for a total transaction of $456,686.00. Following the completion of the sale, the executive vice president directly owned 609,421 shares of the company's stock, valued at approximately $7,154,602.54. This represents a 6.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffery Baker sold 35,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $12.62, for a total transaction of $441,700.00. Following the completion of the transaction, the chief financial officer owned 542,171 shares in the company, valued at $6,842,198.02. The trade was a 6.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 294,904 shares of company stock worth $3,844,124 over the last ninety days. Company insiders own 24.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Paysign in the second quarter valued at about $25,219,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Paysign during the 2nd quarter worth about $16,983,000. Renaissance Technologies LLC lifted its position in shares of Paysign by 17.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,531,072 shares of the company's stock worth $9,033,000 after purchasing an additional 227,300 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Paysign during the 2nd quarter worth about $6,560,000. Finally, Dimensional Fund Advisors LP boosted its stake in Paysign by 16.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 575,619 shares of the company's stock valued at $3,396,000 after purchasing an additional 82,736 shares during the period. Institutional investors and hedge funds own 25.89% of the company's stock.

Paysign Company Profile

Paysign, Inc NASDAQ: PAYS is a financial technology company that provides payment and prepaid card solutions for businesses and organizations. Its platform supports the issuance, distribution and management of branded prepaid cards and other electronic payment products, helping clients deliver funds to consumers and program participants.

The company serves several specialized markets, including plasma collection centers, pharmaceutical manufacturers and other healthcare-related organizations.

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