Connors Investor Services Inc. bought a new stake in PaySign, Inc. (NASDAQ:PAYS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,300 shares of the company’s stock, valued at approximately $185,000. Connors Investor Services Inc. owned approximately 0.11% of PaySign at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its position in PaySign by 32.1% during the first quarter. Wasatch Advisors Inc. now owns 1,519,857 shares of the company’s stock worth $6,642,000 after purchasing an additional 369,735 shares during the period. Renaissance Technologies LLC boosted its position in PaySign by 5.2% during the first quarter. Renaissance Technologies LLC now owns 1,547,958 shares of the company’s stock worth $6,765,000 after purchasing an additional 76,426 shares during the period. JCSD Capital LLC boosted its position in PaySign by 138.8% during the first quarter. JCSD Capital LLC now owns 116,410 shares of the company’s stock worth $509,000 after purchasing an additional 67,668 shares during the period. Janus Henderson Group PLC bought a new position in PaySign during the first quarter worth $273,000. Finally, Geode Capital Management LLC boosted its position in PaySign by 11.9% during the first quarter. Geode Capital Management LLC now owns 488,419 shares of the company’s stock worth $2,134,000 after purchasing an additional 52,042 shares during the period. 19.63% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Joan M. Herman sold 76,004 shares of the business’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $2.38, for a total value of $180,889.52. Following the completion of the transaction, the executive vice president now owns 836,615 shares of the company’s stock, valued at $1,991,143.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Newcomer sold 39,455 shares of the business’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $3.13, for a total value of $123,494.15. Following the completion of the transaction, the chief executive officer now directly owns 9,322,986 shares of the company’s stock, valued at approximately $29,180,946.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,584 shares of company stock valued at $326,827. 41.30% of the stock is owned by insiders.
PaySign (NASDAQ:PAYS) last posted its earnings results on Tuesday, August 10th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The firm had revenue of $6.65 million during the quarter. As a group, sell-side analysts expect that PaySign, Inc. will post 0.04 EPS for the current year.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of PaySign from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research report on Friday, September 10th. DA Davidson raised shares of PaySign from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Thursday, August 19th. Finally, LADENBURG THALM/SH SH raised PaySign from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.50 to $3.75 in a report on Thursday, August 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.75.
PaySign Company Profile
PaySign, Inc engages in the provision of prepaid card programs and processing services for corporate, consumer and government applications. It specializes in corporate incentive products, payroll cards, general purpose re-loadable cards, and travel cards. It markets its prepaid solutions through its PaySign brand.
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