PaySign (NASDAQ:PAYS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $13.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.97% from the company’s current price.
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 analysts also recently issued reports about the stock. ValuEngine raised shares of PaySign from a “strong sell” rating to a “sell” rating in a research report on Friday, November 1st. Canaccord Genuity dropped their price objective on shares of PaySign from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, BTIG Research restated a “hold” rating on shares of PaySign in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. PaySign presently has a consensus rating of “Buy” and a consensus price target of $12.60.
PaySign (NASDAQ:PAYS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $9.00 million for the quarter, compared to the consensus estimate of $8.98 million. PaySign had a net margin of 19.56% and a return on equity of 66.05%. PaySign’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, research analysts anticipate that PaySign will post 0.27 EPS for the current fiscal year.
In other news, Director Quinn P. Williams sold 15,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $11.03, for a total value of $165,450.00. Also, Director Daniel R. Henry sold 2,572 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.21, for a total transaction of $28,832.12. In the last ninety days, insiders sold 469,592 shares of company stock worth $5,244,792. 38.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in PaySign during the 2nd quarter worth approximately $33,000. Mascoma Wealth Management LLC purchased a new stake in shares of PaySign during the 2nd quarter valued at approximately $40,000. Royal Bank of Canada purchased a new stake in shares of PaySign during the 2nd quarter valued at approximately $47,000. TRUE Private Wealth Advisors purchased a new stake in shares of PaySign during the 2nd quarter valued at approximately $66,000. Finally, Kavar Capital Partners LLC purchased a new stake in shares of PaySign during the 2nd quarter valued at approximately $79,000. 24.38% of the stock is currently owned by institutional investors and hedge funds.
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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