Mark Newcomer Sells 69,593 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) CEO Mark Newcomer sold 69,593 shares of Paysign stock in a transaction on Monday, August 5th. The stock was sold at an average price of $4.54, for a total transaction of $315,952.22. Following the sale, the chief executive officer now directly owns 9,548,886 shares of the company’s stock, valued at $43,351,942.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Paysign Stock Up 3.6 %

Shares of NASDAQ PAYS traded up $0.16 during midday trading on Tuesday, hitting $4.63. The company had a trading volume of 289,636 shares, compared to its average volume of 303,290. The business has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $3.98. Paysign, Inc. has a twelve month low of $1.67 and a twelve month high of $5.59. The firm has a market capitalization of $245.30 million, a price-to-earnings ratio of 35.62 and a beta of 0.97.

Paysign (NASDAQ:PAYS) last posted its earnings results on Tuesday, May 7th. The company reported $0.01 earnings per share for the quarter. Paysign had a return on equity of 34.04% and a net margin of 14.42%. The company had revenue of $13.19 million for the quarter, compared to analyst estimates of $12.46 million. On average, equities analysts forecast that Paysign, Inc. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Paysign

A number of large investors have recently bought and sold shares of the stock. Norden Group LLC grew its stake in shares of Paysign by 38.7% in the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock valued at $54,000 after buying an additional 4,151 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Paysign by 49.7% in the 1st quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company’s stock worth $144,000 after acquiring an additional 13,093 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Paysign during the first quarter valued at about $147,000. Rhumbline Advisers increased its position in shares of Paysign by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock valued at $154,000 after purchasing an additional 7,190 shares during the period. Finally, Herr Investment Group LLC acquired a new stake in Paysign during the first quarter valued at approximately $179,000. Institutional investors and hedge funds own 25.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $7.00 price target on shares of Paysign in a research note on Friday, June 28th. Maxim Group upped their price target on shares of Paysign from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, DA Davidson raised their price objective on shares of Paysign from $4.50 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, April 30th.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for 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 accessible with a debit card.