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 stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $3.76, for a total transaction of $376,000.00. Following the transaction, the insider now directly owns 8,990,000 shares in the company, valued at approximately $33,802,400. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Paysign Stock Performance

PAYS traded down $0.04 on Tuesday, reaching $2.48. 717,053 shares of the company’s stock were exchanged, compared to its average volume of 273,926. Paysign, Inc. has a twelve month low of $2.25 and a twelve month high of $5.59. The company’s 50 day moving average is $2.67 and its 200-day moving average is $3.25. The company has a market cap of $132.80 million, a price-to-earnings ratio of 16.53 and a beta of 0.93.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. Sell-side analysts forecast that Paysign, Inc. will post 0.21 EPS for the current year.

Institutional Trading of Paysign

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

Analyst Ratings Changes

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

Paysign Company Profile

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.