Paysign (NASDAQ:PAYS) Stock Falls 5.4% – Time to Sell?

Shares of Paysign, Inc. (NASDAQ:PAYS) were down 5.4% during trading on Monday. The company traded as low as $14.25 and last traded at $13.90. 451,324 shares changed hands during trading, a decline of 38% from the average session volume of 729,734 shares. The stock had previously closed at $14.69.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PAYS. Lake Street Capital increased their price objective on Paysign from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Barrington Research set a $15.00 target price on shares of Paysign in a research report on Tuesday, August 11th. DA Davidson upped their target price on shares of Paysign from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Wall Street Zen cut shares of Paysign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings raised shares of Paysign from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.00.

Paysign Stock Performance

The company has a market cap of $772.66 million, a P/E ratio of 51.65 and a beta of 0.92. The stock has a 50-day simple moving average of $13.88 and a 200 day simple moving average of $8.56.

Insider Transactions at Paysign

In other Paysign news, CEO Mark Newcomer sold 50,000 shares of Paysign stock in a transaction on Friday, October 9th. The shares were sold at an average price of $15.34, for a total transaction of $767,000.00. Following the sale, the chief executive officer owned 9,113,002 shares in the company, valued at $139,793,450.68. The trade was a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joan M. Herman sold 38,900 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $11.74, for a total transaction of $456,686.00. Following the completion of the sale, the executive vice president directly owned 609,421 shares in the company, valued at $7,154,602.54. This trade represents a 6.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 294,904 shares of company stock valued at $3,844,124. Company insiders own 24.50% of the company’s stock.

Institutional Trading of Paysign

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Paysign during the 2nd quarter worth approximately $25,219,000. Punch & Associates Investment Management Inc. acquired a new stake in Paysign in the 2nd quarter valued at $16,983,000. Renaissance Technologies LLC grew its position in Paysign by 17.4% in the first quarter. Renaissance Technologies LLC now owns 1,531,072 shares of the company’s stock valued at $9,033,000 after acquiring an additional 227,300 shares during the period. AWM Investment Company Inc. bought a new stake in Paysign in the second quarter valued at $6,560,000. Finally, Dimensional Fund Advisors LP grew its position in Paysign by 16.8% in the first quarter. Dimensional Fund Advisors LP now owns 575,619 shares of the company’s stock valued at $3,396,000 after acquiring an additional 82,736 shares during the period. 25.89% of the stock is currently owned by institutional investors and hedge funds.

Paysign Company Profile

Paysign, Inc (NASDAQ: PAYS) is a financial technology company that provides payment and prepaid card solutions for businesses and organizations. Its platform supports the issuance, distribution and management of branded prepaid cards and other electronic payment products, helping clients deliver funds to consumers and program participants.

The company serves several specialized markets, including plasma collection centers, pharmaceutical manufacturers and other healthcare-related organizations.