Topline Capital Management LLC Takes $16.95 Million Position in Paysign, Inc. (NASDAQ:PAYS)

Topline Capital Management LLC purchased a new stake in Paysign, Inc. (NASDAQ:PAYS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,611,128 shares of the company's stock, valued at approximately $16,946,000. Paysign comprises 3.2% of Topline Capital Management LLC's portfolio, making the stock its 10th largest holding. Topline Capital Management LLC owned 10.48% of Paysign at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Paysign by 11.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock valued at $4,535,000 after acquiring an additional 149,200 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Paysign by 51.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 267,899 shares of the company's stock worth $809,000 after buying an additional 90,702 shares during the period. Marshall Wace LLP bought a new stake in shares of Paysign in the 4th quarter valued at about $489,000. JPMorgan Chase & Co. increased its stake in shares of Paysign by 145.6% in the 4th quarter. JPMorgan Chase & Co. now owns 155,347 shares of the company's stock valued at $469,000 after acquiring an additional 92,100 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in Paysign by 4.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company's stock worth $419,000 after acquiring an additional 5,000 shares during the last quarter. 25.89% of the stock is currently owned by institutional investors and hedge funds.

Paysign Stock Down 1.3 %

Shares of PAYS stock traded down $0.03 during trading on Wednesday, reaching $2.33. 33,952 shares of the company's stock were exchanged, compared to its average volume of 206,162. The firm's fifty day moving average price is $2.30 and its 200-day moving average price is $2.91. Paysign, Inc. has a twelve month low of $1.80 and a twelve month high of $5.59. The stock has a market capitalization of $125.23 million, a PE ratio of 15.53 and a beta of 0.77.

Paysign (NASDAQ:PAYS - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $15.61 million during the quarter, compared to analysts' expectations of $15.42 million. Paysign had a return on equity of 30.64% and a net margin of 14.28%. As a group, analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark Newcomer sold 100,000 shares of Paysign stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $2.73, for a total transaction of $273,000.00. Following the sale, the chief executive officer now directly owns 8,936,886 shares of the company's stock, valued at approximately $24,397,698.78. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barrington Research reiterated an "outperform" rating and issued a $7.00 target price on shares of Paysign in a report on Wednesday, March 26th. DA Davidson reiterated a "buy" rating and issued a $6.00 price objective on shares of Paysign in a research report on Wednesday, March 26th.

Paysign 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.