Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Sells $376,000.00 in Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of Paysign stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $3.76, for a total transaction of $376,000.00. Following the sale, the insider now owns 8,990,000 shares of the company’s stock, valued at approximately $33,802,400. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Paysign Stock Performance

Shares of PAYS stock opened at $2.48 on Wednesday. The company has a market capitalization of $132.80 million, a price-to-earnings ratio of 16.53 and a beta of 0.93. Paysign, Inc. has a one year low of $2.25 and a one year high of $5.59. The company’s 50-day moving average is $2.67 and its 200 day moving average is $3.25.

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 analysts’ consensus estimates of $0.02. Paysign had a return on equity of 30.64% and a net margin of 14.28%. As a group, research analysts predict that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Paysign

Several hedge funds and other institutional investors have recently made changes to their positions in PAYS. PDT Partners LLC purchased a new position in shares of Paysign during the 4th quarter worth $39,000. Wells Fargo & Company MN raised its holdings in Paysign by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,385 shares of the company’s stock worth $46,000 after purchasing an additional 5,243 shares during the period. SG Americas Securities LLC lifted its position in Paysign by 33.5% during the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company’s stock valued at $47,000 after purchasing an additional 3,895 shares in the last quarter. Virtu Financial LLC bought a new stake in Paysign during the fourth quarter valued at about $78,000. Finally, Occudo Quantitative Strategies LP grew its holdings in Paysign by 56.5% during the fourth quarter. Occudo Quantitative Strategies LP now owns 28,429 shares of the company’s stock valued at $86,000 after purchasing an additional 10,268 shares during the period. Hedge funds and other institutional investors own 25.89% of the company’s stock.

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.