Paysign (NASDAQ:PAYS) Upgraded by Wall Street Zen to Buy Rating

by · The Markets Daily

Wall Street Zen upgraded shares of Paysign (NASDAQ:PAYS – Free Report) from a hold rating to a buy rating in a research report sent to investors on Sunday.

A number of other equities research analysts also recently weighed in on PAYS. Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research note on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and set a $9.00 target price on shares of Paysign in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Paysign has a consensus rating of “Moderate Buy” and a consensus price target of $8.56.

Get Our Latest Stock Report on Paysign

Paysign Stock Up 2.1%

Paysign stock opened at $3.39 on Friday. The business’s 50-day simple moving average is $4.68 and its 200 day simple moving average is $5.23. The stock has a market cap of $186.59 million, a price-to-earnings ratio of 26.08 and a beta of 0.96. Paysign has a 12-month low of $1.80 and a 12-month high of $8.88.

Insiders Place Their Bets

In other news, insider Robert Strobo sold 20,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $5.47, for a total value of $109,400.00. Following the completion of the transaction, the insider owned 327,290 shares of the company’s stock, valued at $1,790,276.30. The trade was a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYS. Allspring Global Investments Holdings LLC bought a new stake in Paysign in the 2nd quarter valued at $392,000. Palisades Investment Partners LLC bought a new position in Paysign during the 3rd quarter worth about $5,646,000. New York State Common Retirement Fund raised its stake in shares of Paysign by 2,943.3% in the 3rd quarter. New York State Common Retirement Fund now owns 385,732 shares of the company’s stock valued at $2,426,000 after purchasing an additional 373,057 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Paysign in the second quarter valued at about $869,000. Finally, R Squared Ltd bought a new stake in shares of Paysign in the second quarter valued at about $108,000. 25.89% of the stock is currently owned by institutional investors.

About Paysign

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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.

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