PaySign (NASDAQ:PAYS) Cut to “Sell” at Zacks Investment Research

PaySign (NASDAQ:PAYS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

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According to Zacks, “PaySign Inc. is a provider of prepaid card programs and processing services for corporate, consumer and government applications through its Paysign(R) brand. PaySign Inc., formerly known as 3PEA International Inc., is based in Henderson, Nevada. “

PAYS has been the subject of a number of other reports. BTIG Research reiterated a “hold” rating on shares of PaySign in a research report on Tuesday, September 10th. ValuEngine raised shares of PaySign from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity decreased their price objective on shares of PaySign from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. PaySign has an average rating of “Hold” and a consensus target price of $13.00.

Shares of NASDAQ PAYS traded down $0.36 during mid-day trading on Thursday, hitting $11.83. The company had a trading volume of 956,200 shares, compared to its average volume of 964,905. PaySign has a one year low of $3.15 and a one year high of $18.67. The company has a 50-day moving average price of $10.71. The company has a market cap of $471.90 million, a P/E ratio of 131.44 and a beta of 0.77.

PaySign (NASDAQ:PAYS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. PaySign had a net margin of 19.56% and a return on equity of 75.19%. The company had revenue of $9.00 million during the quarter, compared to the consensus estimate of $8.98 million. The firm’s revenue was up 40.6% on a year-over-year basis. Analysts predict that PaySign will post 0.24 earnings per share for the current year.

In related news, Director Quinn P. Williams sold 15,000 shares of PaySign stock in a transaction that occurred on Monday, October 28th. The shares were 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 that occurred on Monday, September 16th. The shares were sold at an average price of $11.03, for a total transaction of $2,206,000.00. Insiders sold 469,592 shares of company stock worth $5,244,792 over the last three months. 38.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of PaySign during the second quarter worth $21,358,000. Vanguard Group Inc. bought a new stake in shares of PaySign during the second quarter worth $21,049,000. Invesco Ltd. bought a new stake in shares of PaySign during the second quarter worth $7,465,000. Resources Investment Advisors LLC. bought a new stake in shares of PaySign during the second quarter worth $6,290,000. Finally, Renaissance Technologies LLC bought a new stake in shares of PaySign during the second quarter worth $5,026,000. 24.40% of the stock is currently owned by hedge funds and other institutional investors.

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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