Paysign (NASDAQ:PAYS) Stock Rating Lowered by Maxim Group

Paysign (NASDAQ:PAYS) was downgraded by equities researchers at Maxim Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

Several other brokerages have also recently commented on PAYS. Weiss Ratings raised shares of Paysign from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen downgraded shares of Paysign from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. DA Davidson raised their price objective on Paysign from $12.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Lake Street Capital lifted their target price on Paysign from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Finally, Barrington Research set a $15.00 target price on Paysign in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Paysign currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Paysign Stock Down 18.9%

NASDAQ PAYS opened at $10.14 on Wednesday. Paysign has a 12-month low of $3.08 and a 12-month high of $16.15. The company has a market capitalization of $572.52 million, a PE ratio of 30.73 and a beta of 0.92. The firm’s 50 day moving average is $13.82 and its 200-day moving average is $8.63.

Paysign (NASDAQ:PAYS) last announced its earnings results on Monday, November 9th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Paysign had a net margin of 18.48% and a return on equity of 37.20%. The business had revenue of $30.80 million during the quarter, compared to analysts’ expectations of $29.02 million. As a group, sell-side analysts expect that Paysign will post 0.58 EPS for the current year.

Insider Activity

In other news, insider Michael C. Ngo sold 79,925 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $12.74, for a total value of $1,018,244.50. Following the sale, the insider directly owned 2,350,000 shares of the company’s stock, valued at approximately $29,939,000. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joan M. Herman sold 38,900 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $11.74, for a total transaction of $456,686.00. Following the completion of the sale, the executive vice president owned 609,421 shares of the company’s stock, valued at $7,154,602.54. This trade represents a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 259,904 shares of company stock valued at $3,402,424 in the last quarter. Company insiders own 24.50% of the company’s stock.

Institutional Trading of Paysign

Several institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in shares of Paysign in the third quarter valued at approximately $297,000. Virtus Advisers LLC acquired a new position in shares of Paysign during the 3rd quarter worth approximately $282,000. Diversified Trust Co acquired a new position in shares of Paysign during the 3rd quarter worth approximately $234,000. Russell Investments Group Ltd. increased its holdings in shares of Paysign by 171.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 156,825 shares of the company’s stock worth $2,114,000 after acquiring an additional 98,980 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in Paysign in the 3rd quarter valued at $839,000. Institutional investors own 25.89% of the company’s stock.

About Paysign

Paysign, Inc. provides prepaid card programs, payment processing and related financial technology services. Its platform supports organizations that need to distribute funds and manage payments, including businesses in the healthcare sector. The company serves plasma collection centers with donor compensation and payment solutions, and works with pharmaceutical companies on patient assistance and affordability programs. Its services also support payments for clinical trials and other disbursement needs.