PaySign (NASDAQ:PAYS) Issues FY 2024 Earnings Guidance

PaySign (NASDAQ:PAYS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.040-0.060 for the period, compared to the consensus estimate of 0.070. The company issued revenue guidance of $54.5 million-$56.7 million, compared to the consensus revenue estimate of $52.2 million. PaySign also updated its Q1 2024 guidance to EPS.

PaySign Stock Performance

NASDAQ:PAYS opened at $4.00 on Thursday. PaySign has a one year low of $1.67 and a one year high of $4.53. The stock has a market cap of $211 million, a PE ratio of 33.33 and a beta of 1.06. The stock has a 50 day moving average price of $3.06 and a 200 day moving average price of $2.52.

Analysts Set New Price Targets

PAYS has been the topic of several research reports. DA Davidson upped their price objective on shares of PaySign from $3.00 to $4.00 and gave the company a buy rating in a report on Monday. TheStreet upgraded PaySign from a d+ rating to a c- rating in a research note on Wednesday, January 3rd. Finally, Barrington Research reiterated an outperform rating and issued a $5.50 price objective on shares of PaySign in a report on Wednesday.

Insider Transactions at PaySign

In other news, major shareholder Topline Capital Partners, Lp acquired 51,300 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $2.93 per share, with a total value of $150,309.00. Following the completion of the purchase, the insider now owns 6,099,317 shares of the company’s stock, valued at approximately $17,870,998.81. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Topline Capital Partners, Lp bought 51,300 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $2.93 per share, with a total value of $150,309.00. Following the completion of the purchase, the insider now owns 6,099,317 shares in the company, valued at approximately $17,870,998.81. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Topline Capital Management, Ll bought 54,183 shares of PaySign stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $2.97 per share, for a total transaction of $160,923.51. Following the completion of the acquisition, the insider now directly owns 6,153,500 shares in the company, valued at $18,275,895. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 691,570 shares of company stock valued at $2,046,811. Insiders own 23.40% of the company’s stock.

Hedge Funds Weigh In On PaySign

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in PaySign by 2,499.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,150 shares of the company’s stock worth $64,000 after acquiring an additional 25,144 shares during the period. Virtu Financial LLC bought a new position in shares of PaySign during the fourth quarter valued at approximately $46,000. Cubist Systematic Strategies LLC acquired a new stake in PaySign in the first quarter worth approximately $44,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of PaySign during the 1st quarter valued at about $44,000. Finally, Jane Street Group LLC bought a new stake in PaySign in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 25.89% of the company’s stock.

PaySign Company Profile

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a card processing platform.