Paysign (NASDAQ:PAYS) Price Target Increased to $6.00 by Analysts at Maxim Group

Paysign (NASDAQ:PAYS) had its price target lifted by investment analysts at Maxim Group from $5.50 to $6.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 31.29% from the stock’s current price.

A number of other brokerages have also commented on PAYS. DA Davidson boosted their target price on Paysign from $4.50 to $5.50 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Barrington Research reissued an “outperform” rating and issued a $5.50 price target on shares of Paysign in a research report on Monday.

Paysign Stock Down 2.1 %

Paysign stock traded down $0.10 during mid-day trading on Wednesday, hitting $4.57. 153,940 shares of the stock were exchanged, compared to its average volume of 370,042. The firm’s fifty day simple moving average is $3.84 and its two-hundred day simple moving average is $3.03. Paysign has a 12 month low of $1.67 and a 12 month high of $4.80. The stock has a market capitalization of $242.07 million, a price-to-earnings ratio of 38.08 and a beta of 0.98.

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

Insider Buying and Selling at Paysign

In other Paysign news, CFO Jeffery Bradford Baker sold 27,691 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $2.87, for a total value of $79,473.17. Following the completion of the sale, the chief financial officer now directly owns 157,097 shares of the company’s stock, valued at approximately $450,868.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jeffery Bradford Baker sold 27,691 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $2.87, for a total transaction of $79,473.17. Following the completion of the sale, the chief financial officer now directly owns 157,097 shares of the company’s stock, valued at approximately $450,868.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Topline Capital Management, Ll acquired 26,444 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $3.01 per share, with a total value of $79,596.44. Following the acquisition, the insider now directly owns 5,736,836 shares of the company’s stock, valued at approximately $17,267,876.36. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 476,086 shares of company stock worth $1,416,208. Corporate insiders own 23.30% of the company’s stock.

Institutional Trading of Paysign

A number of institutional investors have recently modified their holdings of the business. Owls Nest Partners IA LLC grew its position 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 valued at $733,000 after purchasing an additional 3,853 shares in the last quarter. Norden Group LLC raised its position in shares of Paysign by 38.7% in the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock worth $54,000 after buying an additional 4,151 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 buying an additional 5,874 shares during the period. Portside Wealth Group LLC increased its stake in 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 during the last quarter. Finally, Spouting Rock Asset Management LLC boosted its position in shares of Paysign by 39.0% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company’s stock valued at $74,000 after acquiring an additional 10,700 shares during the last quarter. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

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.