Lake Street Capital Initiates Coverage on Paysign (NASDAQ:PAYS)

Investment analysts at Lake Street Capital initiated coverage on shares of Paysign (NASDAQ:PAYSGet Free Report) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Lake Street Capital’s target price suggests a potential upside of 100.67% from the company’s previous close.

Separately, Barrington Research reiterated an “outperform” rating and issued a $7.00 price objective on shares of Paysign in a research note on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $6.13.

Check Out Our Latest Research Report on Paysign

Paysign Trading Up 2.0 %

Shares of PAYS stock opened at $2.99 on Friday. The stock has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $4.07. The company has a market cap of $160.11 million, a price-to-earnings ratio of 19.93 and a beta of 0.93. Paysign has a 12-month low of $2.40 and a 12-month high of $5.59.

Paysign (NASDAQ:PAYSGet Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The firm had revenue of $15.26 million for the quarter, compared to analyst estimates of $14.96 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, equities analysts forecast that Paysign will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew Louis Lanford sold 25,360 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $3.96, for a total transaction of $100,425.60. Following the completion of the transaction, the insider now directly owns 109,731 shares of the company’s stock, valued at $434,534.76. This trade represents a 18.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Newcomer sold 41,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $3.31, for a total value of $135,710.00. Following the completion of the sale, the chief executive officer now directly owns 9,195,886 shares in the company, valued at approximately $30,438,382.66. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 339,360 shares of company stock worth $1,234,246. 23.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paysign

Several hedge funds have recently bought and sold shares of PAYS. Renaissance Technologies LLC boosted its stake in shares of Paysign by 25.0% during the second quarter. Renaissance Technologies LLC now owns 1,504,380 shares of the company’s stock valued at $6,484,000 after acquiring an additional 301,000 shares during the last quarter. Joule Financial LLC acquired a new stake in shares of Paysign during the 3rd quarter worth about $1,478,000. Royce & Associates LP purchased a new stake in shares of Paysign during the third quarter worth about $814,000. Sanctuary Advisors LLC raised its position in shares of Paysign by 4.3% in the third quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock valued at $419,000 after buying an additional 5,000 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Paysign by 31.2% during the third quarter. GSA Capital Partners LLP now owns 117,028 shares of the company’s stock valued at $429,000 after buying an additional 27,829 shares during the period. Hedge funds and other institutional investors own 25.89% of the company’s stock.

About Paysign

(Get Free Report)

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.

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