PaySign, Inc. (NASDAQ:PAYS) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.13.
Several equities analysts have recently commented on the company. TheStreet cut PaySign from a “c-” rating to a “d” rating in a research note on Tuesday, March 30th. LADENBURG THALM/SH SH upgraded PaySign from a “sell” rating to a “neutral” rating and set a $3.50 target price for the company in a research note on Wednesday, May 12th. Finally, Zacks Investment Research upgraded PaySign from a “sell” rating to a “hold” rating in a research note on Wednesday, July 14th.
PAYS traded down $0.07 on Friday, reaching $2.65. 1,343 shares of the company’s stock were exchanged, compared to its average volume of 456,625. PaySign has a twelve month low of $2.46 and a twelve month high of $10.98. The company’s 50 day simple moving average is $3.17. The company has a market capitalization of $134.59 million, a P/E ratio of -10.96 and a beta of 1.55.
In related news, CEO Mark Newcomer sold 39,455 shares of the firm’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $3.13, for a total transaction of $123,494.15. Following the transaction, the chief executive officer now directly owns 9,322,986 shares in the company, valued at $29,180,946.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 41.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in PaySign by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 202,902 shares of the company’s stock worth $942,000 after buying an additional 3,198 shares during the period. JPMorgan Chase & Co. increased its position in PaySign by 43.2% in the first quarter. JPMorgan Chase & Co. now owns 139,914 shares of the company’s stock worth $611,000 after buying an additional 42,196 shares during the period. Virtu Financial LLC acquired a new stake in PaySign in the fourth quarter worth $202,000. Engineers Gate Manager LP acquired a new stake in PaySign in the fourth quarter worth $47,000. Finally, Paloma Partners Management Co acquired a new stake in PaySign in the fourth quarter worth $63,000. 25.74% of the stock is currently owned by hedge funds and other institutional investors.
PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. 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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