Joan Herman Sells 6,667 Shares of Paysign (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) EVP Joan Herman sold 6,667 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $7.01, for a total transaction of $46,735.67. Following the completion of the transaction, the executive vice president directly owned 831,583 shares of the company’s stock, valued at approximately $5,829,396.83. The trade was a 0.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paysign Stock Down 3.3%

NASDAQ PAYS traded down $0.22 during trading hours on Wednesday, hitting $6.53. 493,704 shares of the company were exchanged, compared to its average volume of 674,670. Paysign, Inc. has a 52 week low of $2.28 and a 52 week high of $8.88. The stock has a 50-day moving average price of $4.97 and a 200 day moving average price of $4.88. The stock has a market cap of $360.39 million, a PE ratio of 50.23 and a beta of 0.72.

Paysign (NASDAQ:PAYS) last announced its earnings results on Tuesday, March 24th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Paysign had a return on equity of 17.19% and a net margin of 9.21%.The company had revenue of $22.76 million during the quarter, compared to analysts’ expectations of $21.54 million. As a group, sell-side analysts anticipate that Paysign, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAYS. Lake Street Capital lifted their price target on shares of Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. DA Davidson reaffirmed a “buy” rating and set a $9.00 target price on shares of Paysign in a research note on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Paysign from a “hold” rating to a “buy” rating in a research report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Paysign presently has an average rating of “Moderate Buy” and a consensus price target of $9.42.

Institutional Trading of Paysign

A number of large investors have recently modified their holdings of PAYS. Raymond James Financial Inc. purchased a new position in Paysign during the 2nd quarter worth $30,000. BNP Paribas Financial Markets grew its position in shares of Paysign by 99.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,912 shares of the company’s stock worth $43,000 after buying an additional 3,453 shares in the last quarter. Quarry LP purchased a new position in shares of Paysign during the third quarter valued at $54,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Paysign by 381.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock valued at $51,000 after acquiring an additional 7,825 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Paysign in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 25.89% of the company’s stock.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.