Paysign (NASDAQ:PAYS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Paysign (NASDAQ:PAYS) from a buy rating to a hold rating in a report issued on Saturday.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and issued a $9.00 price target on shares of Paysign in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.56.

Paysign Price Performance

Paysign stock opened at $3.63 on Friday. The stock has a market capitalization of $199.80 million, a PE ratio of 27.93 and a beta of 0.99. The business has a 50 day simple moving average of $4.25 and a 200-day simple moving average of $5.01. Paysign has a 12 month low of $1.80 and a 12 month high of $8.88.

Insider Transactions at Paysign

In other Paysign news, insider Robert Strobo sold 20,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $5.47, for a total value of $109,400.00. Following the completion of the sale, the insider owned 327,290 shares in the company, valued at approximately $1,790,276.30. This represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Paysign

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Paysign by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock valued at $548,000 after purchasing an additional 17,466 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Paysign in the 1st quarter worth $51,000. Rhumbline Advisers raised its holdings in shares of Paysign by 5.2% during the 1st quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock worth $99,000 after acquiring an additional 2,303 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Paysign during the 2nd quarter valued at about $869,000. Finally, Geode Capital Management LLC boosted its position in shares of Paysign by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 788,500 shares of the company’s stock valued at $5,679,000 after acquiring an additional 12,490 shares during the last quarter. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

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.