TRUE Private Wealth Advisors purchased a new stake in shares of PaySign, Inc. (NASDAQ:PAYS) during the second quarter, Holdings Channel reports. The fund purchased 5,000 shares of the company’s stock, valued at approximately $66,000.
Other hedge funds have also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in shares of PaySign in the second quarter worth approximately $535,000. Navellier & Associates Inc acquired a new position in shares of PaySign in the second quarter worth approximately $491,000. Janus Henderson Group PLC acquired a new position in shares of PaySign in the second quarter worth approximately $355,000. Cim LLC acquired a new position in shares of PaySign in the second quarter worth approximately $270,000. Finally, Advisor Group Inc. acquired a new position in shares of PaySign in the second quarter worth approximately $218,000. 11.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. ValuEngine lowered PaySign from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BTIG Research reaffirmed a “hold” rating on shares of PaySign in a research note on Monday. Maxim Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of PaySign in a research note on Wednesday, May 8th. LADENBURG THALM/SH SH assumed coverage on PaySign in a research note on Thursday, May 16th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Investment Research raised PaySign from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Saturday, August 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $12.25.
PAYS stock traded up $0.39 during mid-day trading on Friday, reaching $14.25. The company’s stock had a trading volume of 30,329 shares, compared to its average volume of 2,282,256. The company has a market capitalization of $659.32 million, a P/E ratio of 156.56 and a beta of 0.73. The business’s 50 day moving average price is $14.32. PaySign, Inc. has a 12 month low of $2.63 and a 12 month high of $18.67.
PaySign (NASDAQ:PAYS) last issued its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $8.64 million during the quarter, compared to the consensus estimate of $8.48 million. PaySign had a return on equity of 66.14% and a net margin of 13.90%. The firm’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, equities research analysts expect that PaySign, Inc. will post 0.29 EPS for the current year.
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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