PaySign (NASDAQ:PAYS) Updates FY 2024 Earnings Guidance

PaySign (NASDAQ:PAYS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.040-0.060 for the period, compared to the consensus earnings per share estimate of 0.070. The company issued revenue guidance of $54.5 million-$56.7 million, compared to the consensus revenue estimate of $52.2 million. PaySign also updated its Q1 2024 guidance to EPS.

PaySign Price Performance

Shares of PAYS stock opened at $3.66 on Friday. The stock has a market capitalization of $193.07 million, a PE ratio of 30.50 and a beta of 1.06. The business’s 50 day simple moving average is $3.08 and its 200 day simple moving average is $2.53. PaySign has a one year low of $1.67 and a one year high of $4.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PAYS shares. TheStreet raised shares of PaySign from a d+ rating to a c- rating in a research note on Wednesday, January 3rd. DA Davidson upped their price target on shares of PaySign from $3.00 to $4.00 and gave the company a buy rating in a research report on Monday. Finally, Barrington Research reiterated an outperform rating and set a $5.50 price target on shares of PaySign in a report on Wednesday.

Insider Buying and Selling at PaySign

In related news, insider Topline Capital Management, Ll acquired 19,098 shares of PaySign stock in a transaction dated Tuesday, January 23rd. The stock was bought at an average price of $2.74 per share, with a total value of $52,328.52. Following the transaction, the insider now directly owns 5,375,970 shares in the company, valued at approximately $14,730,157.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Topline Capital Management, Ll acquired 19,098 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were purchased at an average price of $2.74 per share, for a total transaction of $52,328.52. Following the completion of the acquisition, the insider now owns 5,375,970 shares of the company’s stock, valued at $14,730,157.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 73,000 shares of PaySign stock in a transaction dated Wednesday, January 24th. The stock was purchased at an average price of $2.80 per share, with a total value of $204,400.00. Following the completion of the purchase, the insider now owns 5,448,970 shares in the company, valued at $15,257,116. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 691,570 shares of company stock valued at $2,046,811. 23.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PaySign

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of PaySign by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,402,339 shares of the company’s stock worth $2,763,000 after purchasing an additional 27,541 shares in the last quarter. State Street Corp lifted its stake in shares of PaySign by 8.9% in the first quarter. State Street Corp now owns 110,543 shares of the company’s stock valued at $218,000 after buying an additional 9,059 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of PaySign by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,256,232 shares of the company’s stock valued at $1,909,000 after buying an additional 28,700 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of PaySign during the second quarter worth about $40,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of PaySign by 281.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,382 shares of the company’s stock worth $39,000 after acquiring an additional 12,086 shares during the last quarter. Institutional investors own 25.89% of the company’s stock.

PaySign Company Profile

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, data and analytics, and customer services. The company also offers 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.