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 business’s stock in a transaction on Monday, September 30th. The stock was 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 owns 8,990,000 shares in the company, valued at $33,802,400. This represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Paysign Price Performance

Shares of NASDAQ:PAYS traded down $0.04 during midday trading on Tuesday, reaching $2.48. The company had a trading volume of 717,053 shares, compared to its average volume of 273,926. The stock has a market capitalization of $132.80 million, a P/E ratio of 16.53 and a beta of 0.93. The stock’s fifty day moving average price is $2.67 and its 200-day moving average price is $3.25. Paysign, Inc. has a one year low of $2.25 and a one year high of $5.59.

Paysign (NASDAQ:PAYS) last released its earnings results on Tuesday, March 25th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, sell-side analysts forecast that Paysign, Inc. will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Paysign

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Paysign by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock valued at $47,000 after buying an additional 3,895 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Paysign by 4.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company’s stock worth $419,000 after acquiring an additional 5,000 shares during the period. Barclays PLC lifted its position in Paysign by 10.8% in the 4th quarter. Barclays PLC now owns 52,178 shares of the company’s stock valued at $157,000 after purchasing an additional 5,088 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Paysign by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock valued at $46,000 after purchasing an additional 5,243 shares during the period. Finally, Rhumbline Advisers grew its position in Paysign by 13.7% in the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company’s stock worth $134,000 after purchasing an additional 5,339 shares during the last quarter. 25.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital assumed coverage on Paysign in a research report on Friday, December 20th. They set a “buy” rating and a $6.00 target price on the stock.

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.