PaySign, Inc. (NASDAQ:PAYS) rose 15.2% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $11.98 and last traded at $11.43, approximately 3,014,529 shares were traded during mid-day trading. An increase of 213% from the average daily volume of 962,207 shares. The stock had previously closed at $9.92.
The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $9.00 million during the quarter, compared to analyst estimates of $8.98 million. PaySign had a return on equity of 66.14% and a net margin of 13.90%. The business’s revenue was up 40.6% compared to the same quarter last year.
PAYS has been the subject of a number of recent analyst reports. ValuEngine raised PaySign from a “strong sell” rating to a “sell” rating in a research report on Friday, November 1st. BTIG Research reaffirmed a “hold” rating on shares of PaySign in a research report on Tuesday, September 10th. Canaccord Genuity lowered their price target on PaySign from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Zacks Investment Research raised PaySign from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. PaySign currently has a consensus rating of “Hold” and a consensus target price of $13.00.
In other news, Director Daniel R. Henry sold 2,572 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $11.21, for a total value of $28,832.12. Also, major shareholder Daniel Spence sold 23,781 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $11.01, for a total value of $261,828.81. Insiders sold a total of 469,592 shares of company stock valued at $5,244,792 in the last three months. Corporate insiders own 38.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of PaySign in the 2nd quarter worth approximately $21,358,000. Vanguard Group Inc. bought a new position in PaySign during the 2nd quarter valued at approximately $21,049,000. Invesco Ltd. bought a new position in PaySign during the 2nd quarter valued at approximately $7,465,000. Resources Investment Advisors LLC. bought a new position in PaySign during the 2nd quarter valued at approximately $6,290,000. Finally, Renaissance Technologies LLC bought a new position in PaySign during the 2nd quarter valued at approximately $5,026,000. 24.40% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $496.64 million, a P/E ratio of 127.00 and a beta of 0.77. The business’s 50-day moving average is $10.64.
PaySign Company Profile (NASDAQ:PAYS)
PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.
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