Wall Street Zen Upgrades Paysign (NASDAQ:PAYS) to “Buy”

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

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

Paysign Price Performance

NASDAQ:PAYS opened at $3.39 on Friday. Paysign has a 1 year low of $1.80 and a 1 year high of $8.88. The stock’s fifty day moving average price is $4.65 and its two-hundred day moving average price is $5.20. The company has a market cap of $186.59 million, a P/E ratio of 26.08 and a beta of 0.96.

Insider Activity at Paysign

In other news, insider Robert Strobo sold 20,000 shares of the 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 transaction, the insider owned 327,290 shares of the company’s stock, valued at $1,790,276.30. This represents a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAYS. Goldman Sachs Group Inc. increased its stake in Paysign by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock valued at $548,000 after acquiring an additional 17,466 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Paysign in the 1st quarter worth about $51,000. Rhumbline Advisers increased its position in shares of Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock valued at $99,000 after purchasing an additional 2,303 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Paysign during the 2nd quarter valued at about $392,000. Finally, R Squared Ltd purchased a new position in shares of Paysign during the 2nd quarter valued at about $108,000. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

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.