PaySign (NASDAQ:PAYS) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research downgraded shares of PaySign (NASDAQ:PAYS) from a buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “PaySign Inc. is a provider of prepaid card programs and processing services for corporate, consumer and government applications through its Paysign(R) brand. PaySign Inc., formerly known as 3PEA International Inc., is based in Henderson, Nevada. “

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of PaySign from a buy rating to a hold rating in a research report on Thursday, August 1st. Canaccord Genuity dropped their target price on shares of PaySign from $17.00 to $16.00 and set a buy rating for the company in a research report on Tuesday, September 10th. LADENBURG THALM/SH SH initiated coverage on shares of PaySign in a research report on Thursday, May 16th. They set a buy rating and a $12.00 target price for the company. Finally, BTIG Research restated a hold rating on shares of PaySign in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $13.00.

PAYS opened at $11.32 on Friday. The company has a market capitalization of $488.55 million, a price-to-earnings ratio of 125.78 and a beta of 0.91. PaySign has a 1-year low of $2.94 and a 1-year high of $18.67. The stock has a 50 day moving average price of $13.41.

PaySign (NASDAQ:PAYS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $8.64 million during the quarter, compared to analyst estimates of $8.48 million. PaySign had a net margin of 13.90% and a return on equity of 66.14%. The company’s revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, analysts forecast that PaySign will post 0.24 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in PaySign during the second quarter valued at $33,000. Mascoma Wealth Management LLC purchased a new stake in PaySign during the second quarter valued at $40,000. Royal Bank of Canada purchased a new stake in PaySign during the second quarter valued at $47,000. TRUE Private Wealth Advisors purchased a new stake in PaySign during the second quarter valued at $66,000. Finally, Kavar Capital Partners LLC purchased a new stake in PaySign during the second quarter valued at $79,000. 24.39% of the stock is currently owned by institutional investors.

About PaySign

PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.

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