Zacks Investment Research upgraded shares of PaySign (NASDAQ:PAYS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The firm currently has $13.00 target price on the stock.
According to Zacks, “PaySign Inc. is a provider of prepaid card programs and processing services for corporate, consumer and government applications through its Paysign(R) brand. PaySign Inc., formerly known as 3PEA International Inc., is based in Henderson, Nevada. “
PAYS has been the topic of a number of other research reports. ValuEngine raised shares of PaySign from a strong sell rating to a sell rating in a report on Friday, November 1st. BTIG Research reissued a hold rating on shares of PaySign in a report on Tuesday, September 10th. Finally, Canaccord Genuity decreased their price objective on shares of PaySign from $17.00 to $16.00 and set a buy rating on the stock in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. PaySign presently has a consensus rating of Buy and an average target price of $13.17.
NASDAQ:PAYS traded down $0.56 during trading hours on Tuesday, hitting $10.73. 2,248,100 shares of the company traded hands, compared to its average volume of 880,845. PaySign has a twelve month low of $3.15 and a twelve month high of $18.67. The stock’s 50-day moving average price is $10.84. The company has a market capitalization of $565.98 million, a PE ratio of 119.22 and a beta of 0.77.
PaySign (NASDAQ:PAYS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. PaySign had a net margin of 19.56% and a return on equity of 66.05%. The firm had revenue of $9.00 million for the quarter, compared to analyst estimates of $8.98 million. The business’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts forecast that PaySign will post 0.27 earnings per share for the current fiscal year.
In other PaySign news, Director Quinn P. Williams sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $11.03, for a total transaction of $165,450.00. Also, Director Daniel R. Henry sold 132,020 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $11.40, for a total transaction of $1,505,028.00. Over the last 90 days, insiders have sold 469,592 shares of company stock worth $5,244,792. Corporate insiders own 38.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new position in PaySign during the 2nd quarter valued at about $33,000. Mascoma Wealth Management LLC acquired a new stake in shares of PaySign in the 2nd quarter valued at approximately $40,000. Royal Bank of Canada acquired a new stake in shares of PaySign in the 2nd quarter valued at approximately $47,000. TRUE Private Wealth Advisors acquired a new stake in shares of PaySign in the 2nd quarter valued at approximately $66,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of PaySign in the 2nd quarter valued at approximately $79,000. Institutional investors own 24.38% of the company’s stock.
PaySign Company Profile
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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