Paysign (NASDAQ:PAYS) Stock Rating Upgraded by Wall Street Zen

Paysign (NASDAQ:PAYS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.56.

Paysign Price Performance

NASDAQ PAYS opened at $3.44 on Friday. The business has a 50 day moving average price of $3.98 and a 200 day moving average price of $4.91. The company has a market capitalization of $189.34 million, a P/E ratio of 26.46 and a beta of 0.99. Paysign has a 1-year low of $1.80 and a 1-year high of $8.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PAYS. Palisades Investment Partners LLC purchased a new stake in Paysign in the 3rd quarter valued at approximately $5,646,000. New York State Common Retirement Fund grew its holdings in Paysign by 2,943.3% during the 3rd quarter. New York State Common Retirement Fund now owns 385,732 shares of the company’s stock valued at $2,426,000 after buying an additional 373,057 shares during the last quarter. Royce & Associates LP increased its position in Paysign by 150.0% during the third quarter. Royce & Associates LP now owns 622,577 shares of the company’s stock worth $3,916,000 after buying an additional 373,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Paysign during the second quarter worth $869,000. Finally, Precision Wealth Strategies LLC acquired a new position in shares of Paysign in the third quarter worth $1,013,000. 25.89% of the stock is owned by hedge funds and other institutional investors.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.