Paysign, Inc. (NASDAQ:PAYS) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. decreased its holdings in shares of Paysign, Inc. (NASDAQ:PAYS) by 27.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 45,000 shares of the company’s stock after selling 16,980 shares during the period. Connors Investor Services Inc.’s holdings in Paysign were worth $194,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Owls Nest Partners IA LLC grew its position in Paysign by 1.5% during the 4th quarter. Owls Nest Partners IA LLC now owns 261,661 shares of the company’s stock worth $733,000 after purchasing an additional 3,853 shares during the last quarter. Norden Group LLC lifted its stake in shares of Paysign by 38.7% during the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock worth $54,000 after buying an additional 4,151 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Paysign by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 85,964 shares of the company’s stock valued at $371,000 after buying an additional 4,248 shares during the last quarter. Rhumbline Advisers increased its position in shares of Paysign by 25.1% in the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock valued at $154,000 after acquiring an additional 7,190 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Paysign by 49.7% in the 1st quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company’s stock worth $144,000 after acquiring an additional 13,093 shares during the last quarter. Institutional investors and hedge funds own 25.89% of the company’s stock.

Paysign Price Performance

NASDAQ:PAYS opened at $4.33 on Tuesday. The company’s fifty day moving average price is $4.69 and its 200-day moving average price is $4.31. Paysign, Inc. has a 1-year low of $1.67 and a 1-year high of $5.59. The firm has a market capitalization of $230.10 million, a P/E ratio of 33.31 and a beta of 0.96.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.01 earnings per share for the quarter. The company had revenue of $14.33 million for the quarter, compared to the consensus estimate of $14.07 million. Paysign had a return on equity of 32.55% and a net margin of 14.42%. Equities analysts anticipate that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and set a $7.00 price target on shares of Paysign in a research note on Friday, June 28th.

Insider Activity at Paysign

In other Paysign news, insider Matthew Louis Lanford sold 8,038 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.03, for a total value of $32,393.14. Following the sale, the insider now owns 100,431 shares in the company, valued at approximately $404,736.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Paysign news, insider Matthew Louis Lanford sold 8,038 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.03, for a total value of $32,393.14. Following the completion of the transaction, the insider now owns 100,431 shares in the company, valued at $404,736.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Newcomer sold 69,593 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $4.54, for a total transaction of $315,952.22. Following the sale, the chief executive officer now directly owns 9,548,886 shares in the company, valued at $43,351,942.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,207 shares of company stock worth $709,620. 23.40% of the stock is owned by corporate insiders.

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.