Paysign (NASDAQ:PAYS) Rating Lowered to Hold at Wall Street Zen

Paysign (NASDAQ:PAYS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Paysign currently has an average rating of “Moderate Buy” and an average price target of $8.56.

Paysign Price Performance

Shares of PAYS opened at $3.34 on Friday. The stock has a market capitalization of $183.84 million, a price-to-earnings ratio of 25.69 and a beta of 0.99. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The business’s 50 day simple moving average is $3.79 and its 200-day simple moving average is $4.83.

Institutional Trading of Paysign

Several hedge funds and other institutional investors have recently bought and sold shares of PAYS. Raymond James Financial Inc. purchased a new position in Paysign during the second quarter worth $30,000. BNP Paribas Financial Markets raised its stake in shares of Paysign by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 6,912 shares of the company’s stock valued at $43,000 after acquiring an additional 3,453 shares during the period. Quarry LP bought a new stake in shares of Paysign in the 3rd quarter worth about $54,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Paysign by 381.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock worth $51,000 after acquiring an additional 7,825 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Paysign during the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 25.89% of the company’s stock.

About Paysign

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.