Daniel Spence Sells 100,000 Shares of Paysign, Inc. (NASDAQ:PAYS) Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $3.76, for a total transaction of $376,000.00. Following the completion of the transaction, the insider now directly owns 8,990,000 shares in the company, valued at $33,802,400. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Paysign Price Performance

Paysign stock opened at $2.27 on Thursday. Paysign, Inc. has a fifty-two week low of $2.25 and a fifty-two week high of $5.59. The firm has a market capitalization of $121.55 million, a price-to-earnings ratio of 15.13 and a beta of 0.93. The company’s 50 day simple moving average is $2.65 and its 200 day simple moving average is $3.24.

Paysign (NASDAQ:PAYS) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $15.61 million during the quarter, compared to analyst estimates of $15.42 million. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, analysts predict that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and issued a $6.00 price objective on shares of Paysign in a report on Wednesday. Barrington Research reissued an “outperform” rating and issued a $7.00 price target on shares of Paysign in a research note on Wednesday. Finally, Lake Street Capital assumed coverage on Paysign in a research note on Friday, December 20th. They set a “buy” rating and a $6.00 price objective for the company.

Institutional Investors Weigh In On Paysign

Several large investors have recently modified their holdings of PAYS. Squarepoint Ops LLC increased its stake in Paysign by 97.1% during the 4th quarter. Squarepoint Ops LLC now owns 148,847 shares of the company’s stock worth $450,000 after purchasing an additional 73,326 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Paysign by 901.7% in the fourth quarter. Two Sigma Advisers LP now owns 121,200 shares of the company’s stock valued at $366,000 after buying an additional 109,100 shares during the period. Two Sigma Investments LP raised its holdings in shares of Paysign by 98.8% during the fourth quarter. Two Sigma Investments LP now owns 181,775 shares of the company’s stock worth $549,000 after acquiring an additional 90,346 shares during the period. Occudo Quantitative Strategies LP raised its holdings in shares of Paysign by 56.5% during the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company’s stock worth $86,000 after acquiring an additional 10,268 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Paysign by 123.6% during the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock worth $983,000 after acquiring an additional 179,814 shares during the period. 25.89% of the stock is currently owned by institutional investors.

About Paysign

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.