PaySign (NASDAQ:PAYS) Releases FY 2024 Earnings Guidance

PaySign (NASDAQ:PAYS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.040-0.060 for the period, compared to the consensus EPS estimate of 0.070. The company issued revenue guidance of $54.5 million-$56.7 million, compared to the consensus revenue estimate of $52.2 million. PaySign also updated its Q1 2024 guidance to EPS.

PaySign Stock Performance

Shares of PAYS opened at $3.38 on Wednesday. The firm has a market cap of $178.30 million, a PE ratio of 112.70 and a beta of 1.06. The firm’s 50 day moving average price is $3.02 and its 200 day moving average price is $2.50. PaySign has a twelve month low of $1.67 and a twelve month high of $3.85.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PAYS shares. DA Davidson raised their target price on PaySign from $3.00 to $4.00 and gave the company a buy rating in a report on Monday. TheStreet upgraded PaySign from a d+ rating to a c- rating in a report on Wednesday, January 3rd. Finally, Barrington Research reiterated an outperform rating and set a $5.50 price target on shares of PaySign in a report on Thursday, March 21st.

Insider Activity at PaySign

In other PaySign news, insider Topline Capital Management, Ll purchased 19,098 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was bought at an average cost of $2.74 per share, for a total transaction of $52,328.52. Following the completion of the acquisition, the insider now directly owns 5,375,970 shares in the company, valued at $14,730,157.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Topline Capital Management, Ll purchased 19,098 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was purchased at an average price of $2.74 per share, with a total value of $52,328.52. Following the acquisition, the insider now directly owns 5,375,970 shares in the company, valued at approximately $14,730,157.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffery Bradford Baker sold 27,691 shares of PaySign stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $2.87, for a total value of $79,473.17. Following the sale, the chief financial officer now directly owns 157,097 shares in the company, valued at approximately $450,868.39. The disclosure for this sale can be found here. Insiders acquired a total of 691,570 shares of company stock worth $2,046,811 in the last 90 days. 41.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On PaySign

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in PaySign by 2,499.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,150 shares of the company’s stock valued at $64,000 after buying an additional 25,144 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of PaySign in the 4th quarter worth about $46,000. Cubist Systematic Strategies LLC acquired a new stake in shares of PaySign during the 1st quarter worth about $44,000. Schonfeld Strategic Advisors LLC bought a new position in PaySign during the 1st quarter valued at about $44,000. Finally, Jane Street Group LLC acquired a new position in PaySign in the second quarter valued at about $40,000. 25.89% of the stock is owned by institutional investors and hedge funds.

About PaySign

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a card processing platform.