Vanguard Group Inc. bought a new stake in PaySign, Inc. (NASDAQ:PAYS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,574,326 shares of the company’s stock, valued at approximately $21,049,000. Vanguard Group Inc. owned approximately 3.31% of PaySign as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of PAYS. BlackRock Inc. bought a new stake in PaySign in the second quarter worth $21,358,000. Resources Investment Advisors LLC. bought a new stake in shares of PaySign during the second quarter worth $6,290,000. Renaissance Technologies LLC bought a new stake in shares of PaySign during the second quarter worth $5,026,000. Russell Investments Group Ltd. bought a new stake in shares of PaySign during the second quarter worth $3,267,000. Finally, Calamos Advisors LLC bought a new stake in shares of PaySign during the second quarter worth $3,069,000. 24.40% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. ValuEngine upgraded PaySign from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Canaccord Genuity decreased their price objective on PaySign from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. BTIG Research reiterated a “hold” rating on shares of PaySign in a research note on Tuesday, September 10th. Finally, Zacks Investment Research lowered PaySign from a “hold” rating to a “sell” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $13.00.
PaySign (NASDAQ:PAYS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. PaySign had a return on equity of 75.19% and a net margin of 19.56%. The business had revenue of $9.00 million during the quarter, compared to analysts’ expectations of $8.98 million. PaySign’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, equities research analysts forecast that PaySign, Inc. will post 0.24 earnings per share for the current year.
In other news, Director Quinn P. Williams sold 15,000 shares of PaySign stock in a transaction on Monday, October 28th. The stock was sold at an average price of $11.03, for a total value of $165,450.00. Also, CEO Mark Newcomer sold 200,000 shares of PaySign stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.03, for a total value of $2,206,000.00. Over the last three months, insiders sold 469,592 shares of company stock valued at $5,244,792. Insiders own 38.60% of the company’s stock.
PaySign Company Profile
PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.
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