Paysign (NASDAQ:PAYS) Stock Price Up 3.8% After Analyst Upgrade

Key Points

• Paysign shares rose 3.8% after Ladenburg Thalmann raised its price target from $14.00 to $15.25 and maintained a Buy rating.
• The company beat quarterly estimates, reporting EPS of $0.11 versus $0.09 expected and revenue of $30.8 million versus $29.02 million, and raised several guidance measures.
• Analyst views were mixed, and concern about a major plasma customer pulling back weighed on the outlook; insiders also sold about 259,900 shares over the past three months.

Shares of Paysign, Inc. (NASDAQ:PAYS - Get Free Report) were up 3.8% during trading on Thursday after Ladenburg Thalmann & Co. Inc. raised their price target on the stock from $14.00 to $15.25. Ladenburg Thalmann & Co. Inc. currently has a buy rating on the stock. Paysign traded as high as $9.78 and last traded at $9.84. 187,447 shares changed hands during trading, a decline of 75% from the average daily volume of 756,951 shares. The stock had previously closed at $9.48.

Several other research firms also recently weighed in on PAYS. Maxim Group downgraded shares of Paysign from a "buy" rating to a "hold" rating in a research report on Wednesday. DA Davidson reduced their price target on shares of Paysign from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday. Barrington Research set a $15.00 price target on shares of Paysign in a research report on Tuesday, August 11th. Lake Street Capital raised their price objective on shares of Paysign from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 15th. Finally, Wall Street Zen cut shares of Paysign from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Paysign presently has an average rating of "Moderate Buy" and a consensus target price of $14.81.

Insider Transactions at Paysign

In related news, insider Michael Ngo sold 79,925 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $12.74, for a total transaction of $1,018,244.50. Following the completion of the sale, the insider directly owned 2,350,000 shares in the company, valued at approximately $29,939,000. This trade represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joan Herman sold 38,900 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 609,421 shares in the company, valued at $7,154,602.54. The trade was a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 259,904 shares of company stock valued at $3,402,424 over the last three months. 24.50% of the stock is owned by corporate insiders.

Key Headlines Impacting Paysign

Here are a few of the latest headlines about PAYS:

• Positive Sentiment: Paysign reported quarterly EPS of $0.11, above the $0.09 consensus, and revenue of $30.80 million, topping estimates of $29.02 million. The company also raised guidance for revenue, gross margin, net income and EBITDA. Paysign sees strong trading volume following strong earnings
• Negative Sentiment: A major plasma customer’s pullback raised concerns about future revenue and contributed to the post-earnings selloff. Paysign falls as customer’s pullback weighs on future revenue
• Negative Sentiment: Analyst actions were mixed: Maxim Group downgraded PAYS from Buy to Hold, and DA Davidson cut its target from $15 to $14, though it retained a Buy rating. Maxim Group recommendations DA Davidson recommendations

Hedge Funds Weigh In On Paysign

Institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new position in Paysign in the third quarter valued at about $297,000. Virtus Advisers LLC purchased a new stake in shares of Paysign during the 3rd quarter worth about $282,000. Diversified Trust Co purchased a new stake in shares of Paysign during the 3rd quarter worth about $234,000. Russell Investments Group Ltd. lifted its holdings in shares of Paysign by 171.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 156,825 shares of the company's stock valued at $2,114,000 after buying an additional 98,980 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Paysign during the 3rd quarter valued at about $839,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

Paysign Stock Performance

The firm has a market cap of $545.12 million, a P/E ratio of 29.28 and a beta of 0.92. The company has a 50 day moving average of $13.76 and a 200 day moving average of $8.66.

Paysign (NASDAQ:PAYS - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $30.80 million for the quarter, compared to the consensus estimate of $29.02 million. Paysign had a return on equity of 37.20% and a net margin of 18.48%. As a group, analysts expect that Paysign, Inc. will post 0.38 EPS for the current fiscal year.

Paysign Company Profile

Paysign, Inc. provides prepaid card programs, payment processing and related financial technology services. Its platform supports organizations that need to distribute funds and manage payments, including businesses in the healthcare sector. The company serves plasma collection centers with donor compensation and payment solutions, and works with pharmaceutical companies on patient assistance and affordability programs. Its services also support payments for clinical trials and other disbursement needs.

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