Brokerages Set Paysign, Inc. (NASDAQ:PAYS) PT at $8.56

Shares of Paysign, Inc. (NASDAQ:PAYS) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $8.5625.

A number of equities analysts have weighed in on PAYS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paysign in a research note on Thursday, January 22nd. Wall Street Zen downgraded Paysign from a “buy” rating to a “hold” rating in a report on Sunday.

Paysign Stock Performance

PAYS opened at $3.23 on Friday. The company’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $4.84. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The stock has a market capitalization of $177.78 million, a PE ratio of 24.85 and a beta of 0.99.

Institutional Investors Weigh In On Paysign

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAYS. Goldman Sachs Group Inc. raised its holdings in shares of Paysign by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock worth $548,000 after purchasing an additional 17,466 shares during the period. Jane Street Group LLC purchased a new stake in shares of Paysign during the 1st quarter worth about $51,000. Rhumbline Advisers increased its position in Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock worth $99,000 after purchasing an additional 2,303 shares in the last quarter. Geode Capital Management LLC increased its position in Paysign by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 788,500 shares of the company’s stock worth $5,679,000 after purchasing an additional 12,490 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Paysign in the second quarter valued at approximately $182,000. 25.89% of the stock is currently owned by institutional investors and hedge funds.

Paysign Company Profile

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.