Connors Investor Services Inc. Sells 11,000 Shares of Paysign, Inc. (NASDAQ:PAYS)

Connors Investor Services Inc. lowered its stake in shares of Paysign, Inc. (NASDAQ:PAYS) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,980 shares of the company’s stock after selling 11,000 shares during the quarter. Connors Investor Services Inc. owned 0.12% of Paysign worth $227,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PAYS. Vanguard Group Inc. grew its holdings in Paysign by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,649,043 shares of the company’s stock worth $6,035,000 after buying an additional 48,489 shares in the last quarter. Bridge City Capital LLC grew its holdings in Paysign by 17.9% during the first quarter. Bridge City Capital LLC now owns 102,401 shares of the company’s stock worth $375,000 after buying an additional 15,549 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Paysign by 49.7% during the first quarter. BNP Paribas Financial Markets now owns 39,452 shares of the company’s stock worth $144,000 after buying an additional 13,093 shares in the last quarter. Norden Group LLC grew its holdings in Paysign by 38.7% during the first quarter. Norden Group LLC now owns 14,883 shares of the company’s stock worth $54,000 after buying an additional 4,151 shares in the last quarter. Finally, Owls Nest Partners IA LLC grew its stake in Paysign by 1.5% in the 4th quarter. Owls Nest Partners IA LLC now owns 261,661 shares of the company’s stock valued at $733,000 after purchasing an additional 3,853 shares during the period. Institutional investors own 25.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PAYS shares. DA Davidson upped their price objective on Paysign from $4.50 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Barrington Research restated an “outperform” rating and issued a $7.00 price objective on shares of Paysign in a research note on Friday, June 28th. Finally, Maxim Group increased their price target on Paysign from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th.

Paysign Trading Down 0.6 %

Shares of PAYS stock traded down $0.03 on Monday, hitting $5.12. 110,830 shares of the stock were exchanged, compared to its average volume of 305,559. The firm has a market capitalization of $271.26 million, a PE ratio of 39.62 and a beta of 0.98. Paysign, Inc. has a one year low of $1.67 and a one year high of $5.32. The firm’s 50 day moving average is $4.36 and its two-hundred day moving average is $3.79.

Paysign (NASDAQ:PAYS) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $13.19 million during the quarter, compared to the consensus estimate of $12.46 million. Paysign had a return on equity of 32.75% and a net margin of 13.77%. On average, sell-side analysts expect that Paysign, Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Matthew Louis Lanford sold 8,038 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.03, for a total transaction of $32,393.14. Following the sale, the insider now owns 100,431 shares of the company’s stock, valued at approximately $404,736.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.40% of the stock is currently owned by insiders.

Paysign 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.