Paysign (NASDAQ:PAYS) PT Raised to $6.00 at Maxim Group

Paysign (NASDAQ:PAYS) had its price target increased by stock analysts at Maxim Group from $5.50 to $6.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 21.70% from the company’s previous close.

Several other equities research analysts have also weighed in on PAYS. Barrington Research reissued an “outperform” rating and issued a $5.50 price objective on shares of Paysign in a report on Monday. DA Davidson boosted their price objective on Paysign from $4.50 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, April 30th.

Paysign Stock Up 0.2 %

PAYS stock traded up $0.01 during midday trading on Wednesday, hitting $4.93. The company’s stock had a trading volume of 52,019 shares, compared to its average volume of 368,663. The stock has a market cap of $261.13 million, a price-to-earnings ratio of 37.85 and a beta of 0.98. The stock’s 50-day moving average price is $3.91 and its 200 day moving average price is $3.05. Paysign has a 1 year low of $1.67 and a 1 year high of $4.98.

Paysign (NASDAQ:PAYS) last released its earnings results on Tuesday, March 26th. The company reported $0.10 earnings per share for the quarter. Paysign had a net margin of 13.66% and a return on equity of 34.33%. The firm had revenue of $13.69 million during the quarter, compared to the consensus estimate of $11.57 million. As a group, equities analysts forecast that Paysign will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Topline Capital Management, Ll bought 54,183 shares of Paysign stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $2.97 per share, with a total value of $160,923.51. Following the completion of the purchase, the insider now directly owns 6,153,500 shares in the company, valued at $18,275,895. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Topline Capital Partners, Lp bought 25,082 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $3.08 per share, for a total transaction of $77,252.56. Following the completion of the acquisition, the insider now owns 5,761,918 shares of the company’s stock, valued at $17,746,707.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Topline Capital Management, Ll acquired 54,183 shares of the stock in a transaction dated Friday, March 15th. The shares were purchased at an average cost of $2.97 per share, with a total value of $160,923.51. Following the completion of the purchase, the insider now owns 6,153,500 shares of the company’s stock, valued at approximately $18,275,895. The disclosure for this purchase can be found here. Insiders purchased a total of 476,086 shares of company stock valued at $1,416,208 in the last quarter. Corporate insiders own 23.40% of the company’s stock.

Institutional Trading of Paysign

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Portside Wealth Group LLC raised its position in shares of Paysign by 33.7% in the 3rd quarter. Portside Wealth Group LLC now owns 33,740 shares of the company’s stock worth $68,000 after acquiring an additional 8,508 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Paysign by 18.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,205 shares of the company’s stock valued at $74,000 after purchasing an additional 5,874 shares in the last quarter. Bridge City Capital LLC bought a new stake in shares of Paysign in the 3rd quarter worth approximately $61,000. Spouting Rock Asset Management LLC raised its stake in Paysign by 39.0% during the third quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company’s stock valued at $74,000 after buying an additional 10,700 shares during the last quarter. Finally, Owls Nest Partners IA LLC grew its stake in shares of Paysign by 1.5% in the fourth quarter. Owls Nest Partners IA LLC now owns 261,661 shares of the company’s stock worth $733,000 after acquiring an additional 3,853 shares during the last quarter. Hedge funds and other institutional investors own 25.89% of the company’s stock.

Paysign Company 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.