PaySign (NASDAQ:PAYS) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of PaySign (NASDAQ:PAYS) from a hold rating to a buy rating in a research note released on Saturday morning, Zacks.com reports. They currently have $15.00 target price on the stock.
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. “
Several other equities analysts also recently commented on the company. BTIG Research raised PaySign from a sell rating to a neutral rating in a research report on Tuesday, August 6th. Maxim Group reaffirmed a buy rating and issued a $10.00 target price on shares of PaySign in a research report on Wednesday, May 8th. ValuEngine downgraded PaySign from a buy rating to a hold rating in a research report on Thursday, August 1st. Canaccord Genuity assumed coverage on PaySign in a research report on Tuesday, July 2nd. They issued a buy rating on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on PaySign in a research report on Thursday, May 16th. They issued a buy rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. PaySign currently has a consensus rating of Buy and a consensus price target of $12.25.
PaySign (NASDAQ:PAYS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $8.64 million for 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%. During the same quarter in the previous year, the business earned $0.03 earnings per share. The business’s revenue was up 58.2% compared to the same quarter last year. As a group, equities analysts anticipate that PaySign will post 0.29 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of PAYS. BlackRock Inc. acquired a new position in shares of PaySign in the second quarter valued at approximately $21,358,000. Resources Investment Advisors LLC. acquired a new position in shares of PaySign in the second quarter valued at approximately $6,290,000. Renaissance Technologies LLC bought a new stake in shares of PaySign in the second quarter valued at approximately $5,026,000. Russell Investments Group Ltd. bought a new stake in shares of PaySign in the second quarter valued at approximately $3,267,000. Finally, Calamos Advisors LLC bought a new stake in shares of PaySign in the second quarter valued at approximately $3,069,000. 11.88% of the stock is currently owned by 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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