Insider Selling: Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Sells 100,000 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $3.60, for a total transaction of $360,000.00. Following the sale, the insider now directly owns 9,090,000 shares of the company’s stock, valued at approximately $32,724,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Paysign Stock Down 1.8 %

NASDAQ:PAYS opened at $3.60 on Friday. The company has a market cap of $190.72 million, a PE ratio of 27.69 and a beta of 0.96. The business’s 50 day moving average is $4.50 and its two-hundred day moving average is $4.39. Paysign, Inc. has a 52 week low of $1.67 and a 52 week high of $5.59.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.01 EPS for the quarter. Paysign had a net margin of 14.42% and a return on equity of 32.55%. The firm had revenue of $14.33 million during the quarter, compared to the consensus estimate of $14.07 million. As a group, sell-side analysts expect that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Paysign

A number of institutional investors have recently modified their holdings of PAYS. Owls Nest Partners IA LLC boosted its stake in Paysign by 1.5% in the fourth quarter. Owls Nest Partners IA LLC now owns 261,661 shares of the company’s stock valued at $733,000 after acquiring an additional 3,853 shares during the period. Norden Group LLC lifted its holdings in shares of Paysign by 38.7% in the 1st quarter. Norden Group LLC now owns 14,883 shares of the company’s stock worth $54,000 after purchasing an additional 4,151 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Paysign by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 85,964 shares of the company’s stock valued at $371,000 after purchasing an additional 4,248 shares during the period. Rhumbline Advisers boosted its position in Paysign by 25.1% during the 2nd quarter. Rhumbline Advisers now owns 35,835 shares of the company’s stock valued at $154,000 after purchasing an additional 7,190 shares during the period. Finally, Algert Global LLC bought a new position in Paysign during the 2nd quarter worth $46,000. Institutional investors own 25.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an “outperform” rating and set a $7.00 price objective on shares of Paysign in a report on Friday, June 28th.

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.