Paysign (NASDAQ:PAYS) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Paysign (NASDAQ:PAYS) released its quarterly earnings data on Tuesday. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), FiscalAI reports. The firm had revenue of $22.76 million for the quarter, compared to the consensus estimate of $21.54 million. Paysign had a net margin of 10.10% and a return on equity of 19.18%.

Paysign Stock Up 12.9%

PAYS traded up $0.43 during trading on Tuesday, hitting $3.77. The company’s stock had a trading volume of 2,157,011 shares, compared to its average volume of 369,644. The business’s 50 day simple moving average is $3.79 and its 200-day simple moving average is $4.83. The firm has a market cap of $207.51 million, a PE ratio of 29.00 and a beta of 0.99. Paysign has a one year low of $1.80 and a one year high of $8.88.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAYS. Wall Street Zen downgraded Paysign from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paysign has an average rating of “Moderate Buy” and an average price target of $8.56.

Institutional Investors Weigh In On Paysign

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Paysign by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 258,334 shares of the company’s stock worth $548,000 after purchasing an additional 17,466 shares during the period. Jane Street Group LLC bought a new stake in Paysign during the first quarter valued at about $51,000. Rhumbline Advisers increased its position in Paysign by 5.2% in the first quarter. Rhumbline Advisers now owns 46,587 shares of the company’s stock worth $99,000 after buying an additional 2,303 shares in the last quarter. Geode Capital Management LLC increased its position in Paysign by 1.6% in the second quarter. Geode Capital Management LLC now owns 788,500 shares of the company’s stock worth $5,679,000 after buying an additional 12,490 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Paysign by 19.1% in the second quarter. Invesco Ltd. now owns 16,942 shares of the company’s stock worth $122,000 after buying an additional 2,716 shares during the period. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

Paysign Company Profile

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.