Paysign (NASDAQ:PAYS) Given New $5.50 Price Target at DA Davidson

Paysign (NASDAQ:PAYS) had its price target lifted by DA Davidson from $4.50 to $5.50 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on PAYS. Barrington Research reissued an outperform rating and set a $5.50 price objective on shares of Paysign in a research note on Wednesday, March 27th. TheStreet raised shares of Paysign from a d+ rating to a c- rating in a research note on Wednesday, January 3rd.

Paysign Price Performance

Shares of NASDAQ PAYS opened at $4.60 on Tuesday. Paysign has a 1 year low of $1.67 and a 1 year high of $4.75. The company’s 50-day moving average is $3.70 and its 200 day moving average is $2.92. The stock has a market capitalization of $243.66 million, a P/E ratio of 38.33 and a beta of 1.08.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.10 earnings per share (EPS) for the quarter. Paysign had a net margin of 13.66% and a return on equity of 34.33%. The company had revenue of $13.69 million for the quarter, compared to analysts’ expectations of $11.57 million. Research analysts anticipate that Paysign will post 0.22 earnings per share for the current year.

Insider Transactions at Paysign

In other news, insider Topline Capital Management, Ll bought 39,674 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $2.86 per share, for a total transaction of $113,467.64. Following the completion of the purchase, the insider now owns 5,801,592 shares in the company, valued at approximately $16,592,553.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jeffery Bradford Baker sold 27,691 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $2.87, for a total transaction of $79,473.17. Following the transaction, the chief financial officer now owns 157,097 shares in the company, valued at $450,868.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll acquired 39,674 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $2.86 per share, for a total transaction of $113,467.64. Following the transaction, the insider now owns 5,801,592 shares of the company’s stock, valued at $16,592,553.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 476,086 shares of company stock worth $1,416,208. Corporate insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Owls Nest Partners IA LLC lifted its position in Paysign by 1.5% during 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 during the period. Norden Group LLC lifted its position in Paysign by 38.7% during the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after purchasing an additional 4,151 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 purchasing an additional 5,874 shares during the period. Portside Wealth Group LLC increased its holdings in Paysign by 33.7% during the third quarter. Portside Wealth Group LLC now owns 33,740 shares of the company’s stock valued at $68,000 after buying an additional 8,508 shares during the last quarter. Finally, Spouting Rock Asset Management LLC increased its holdings in Paysign by 39.0% during the third quarter. Spouting Rock Asset Management LLC now owns 38,167 shares of the company’s stock valued at $74,000 after buying an additional 10,700 shares during the last quarter. Institutional investors own 25.89% of the company’s stock.

About Paysign

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.