Insider Selling: Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Sells $376,000.00 in Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of Paysign stock in a transaction on Monday, September 30th. The shares were sold at an average price of $3.76, for a total transaction of $376,000.00. Following the completion of the sale, the insider now owns 8,990,000 shares of the company’s stock, valued at $33,802,400. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Paysign Trading Down 5.3 %

PAYS opened at $2.15 on Friday. Paysign, Inc. has a 1-year low of $2.10 and a 1-year high of $5.59. The company has a market cap of $115.13 million, a price-to-earnings ratio of 14.33 and a beta of 0.93. The company’s fifty day moving average price is $2.64 and its two-hundred day moving average price is $3.24.

Paysign (NASDAQ:PAYS) last posted its earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $15.61 million for the quarter, compared to analyst estimates of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, equities analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Barclays PLC raised its position in Paysign by 327.4% in the 3rd quarter. Barclays PLC now owns 47,090 shares of the company’s stock valued at $173,000 after buying an additional 36,071 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Paysign by 164.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,247 shares of the company’s stock worth $232,000 after acquiring an additional 39,299 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Paysign by 257.0% in the third quarter. BNP Paribas Financial Markets now owns 44,793 shares of the company’s stock valued at $164,000 after purchasing an additional 32,245 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Paysign by 4.3% in the third quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock valued at $419,000 after purchasing an additional 5,000 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock valued at $47,000 after purchasing an additional 3,895 shares in the last quarter. Institutional investors own 25.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PAYS shares. Barrington Research restated an “outperform” rating and issued a $7.00 price target on shares of Paysign in a report on Wednesday. DA Davidson restated a “buy” rating and issued a $6.00 target price on shares of Paysign in a research note on Wednesday. Finally, Lake Street Capital began coverage on Paysign in a research note on Friday, December 20th. They set a “buy” rating and a $6.00 price target on the stock.

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.