PaySign (NASDAQ:PAYS) Trading 7.8% Higher
Shares of PaySign, Inc. (NASDAQ:PAYS) traded up 7.8% during mid-day trading on Tuesday . The company traded as high as $14.59 and last traded at $14.21, 1,722,503 shares were traded during trading. An increase of 109% from the average session volume of 824,933 shares. The stock had previously closed at $13.18.
A number of equities research analysts recently issued reports on the company. LADENBURG THALM/SH SH assumed coverage on PaySign in a research note on Thursday, May 16th. They set a “buy” rating and a $12.00 price target for the company. BTIG Research reissued a “hold” rating on shares of PaySign in a research note on Monday. Zacks Investment Research raised PaySign from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Saturday. Canaccord Genuity assumed coverage on PaySign in a research note on Tuesday, July 2nd. They set a “buy” rating for the company. Finally, ValuEngine lowered PaySign from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. PaySign currently has an average rating of “Buy” and a consensus price target of $12.25.
The firm has a market capitalization of $675.98 million, a PE ratio of 157.89 and a beta of 0.73. The firm has a 50 day moving average of $14.25.
Several hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in PaySign during the 2nd quarter valued at approximately $149,000. Hennessy Advisors Inc. purchased a new position in PaySign during the 2nd quarter valued at approximately $535,000. Navellier & Associates Inc purchased a new position in PaySign during the 2nd quarter valued at approximately $491,000. Cim LLC purchased a new position in PaySign during the 2nd quarter valued at approximately $270,000. Finally, Strs Ohio purchased a new position in PaySign during the 2nd quarter valued at approximately $105,000. 11.88% of the stock is owned by hedge funds and other institutional investors.
About PaySign (NASDAQ:PAYS)
PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.
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