DA Davidson Increases PaySign (NASDAQ:PAYS) Price Target to $4.00

PaySign (NASDAQ:PAYS) had its price target lifted by DA Davidson from $3.00 to $4.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also issued reports on the company. TheStreet upgraded PaySign from a d+ rating to a c- rating in a report on Wednesday, January 3rd. Barrington Research restated an outperform rating and issued a $5.50 target price on shares of PaySign in a report on Thursday, March 21st.

PaySign Stock Performance

Shares of NASDAQ:PAYS opened at $3.66 on Monday. PaySign has a one year low of $1.67 and a one year high of $4.53. The stock has a fifty day moving average of $3.08 and a 200-day moving average of $2.53. The company has a market capitalization of $193.07 million, a PE ratio of 30.50 and a beta of 1.06.

Insiders Place Their Bets

In other PaySign news, insider Topline Capital Management, Ll purchased 87,344 shares of the stock in a transaction dated Wednesday, January 31st. The shares were bought at an average cost of $3.08 per share, with a total value of $269,019.52. Following the completion of the transaction, the insider now owns 5,572,356 shares in the company, valued at approximately $17,162,856.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Topline Capital Partners, Lp bought 73,000 shares of PaySign stock in a transaction that occurred on Wednesday, January 24th. The stock was acquired at an average price of $2.80 per share, for a total transaction of $204,400.00. Following the completion of the purchase, the insider now owns 5,448,970 shares in the company, valued at $15,257,116. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Topline Capital Management, Ll bought 87,344 shares of PaySign stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average price of $3.08 per share, with a total value of $269,019.52. Following the purchase, the insider now owns 5,572,356 shares of the company’s stock, valued at approximately $17,162,856.48. The disclosure for this purchase can be found here. Insiders have acquired 691,570 shares of company stock valued at $2,046,811 over the last three months. 23.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PaySign

Several hedge funds have recently made changes to their positions in the stock. Freedom Wealth Alliance LLC acquired a new stake in PaySign during the fourth quarter valued at approximately $25,000. California State Teachers Retirement System acquired a new stake in PaySign during the second quarter valued at approximately $27,000. Walleye Capital LLC acquired a new stake in PaySign during the second quarter valued at approximately $29,000. Wells Fargo & Company MN boosted its holdings in PaySign by 6,091.8% during the second quarter. Wells Fargo & Company MN now owns 13,622 shares of the company’s stock valued at $33,000 after purchasing an additional 13,402 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC acquired a new stake in PaySign during the second quarter valued at approximately $35,000. Institutional investors own 25.89% of the company’s stock.

PaySign Company Profile

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, data and analytics, and customer services. The company also offers corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts.