Paysign, Inc. (NASDAQ:PAYS) Major Shareholder Daniel Spence Sells 100,000 Shares of Stock

Paysign, Inc. (NASDAQ:PAYS) major shareholder Daniel Spence sold 100,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $3.76, for a total transaction of $376,000.00. Following the completion of the transaction, the insider now directly owns 8,990,000 shares in the company, valued at $33,802,400. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Paysign Price Performance

Shares of NASDAQ PAYS opened at $2.48 on Wednesday. The stock has a market capitalization of $132.80 million, a PE ratio of 16.53 and a beta of 0.93. Paysign, Inc. has a one year low of $2.25 and a one year high of $5.59. The business’s fifty day moving average price is $2.67 and its 200-day moving average price is $3.25.

Paysign (NASDAQ:PAYS) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Paysign had a net margin of 14.28% and a return on equity of 30.64%. As a group, equities analysts expect that Paysign, Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PAYS. Topline Capital Management LLC bought a new stake in Paysign during the 4th quarter valued at $16,946,000. 1248 Management LLC bought a new stake in shares of Paysign during the 4th quarter valued at $2,778,000. Millennium Management LLC lifted its holdings in Paysign by 123.6% during the 4th quarter. Millennium Management LLC now owns 325,334 shares of the company’s stock worth $983,000 after purchasing an additional 179,814 shares in the last quarter. Marshall Wace LLP bought a new position in Paysign in the 4th quarter worth about $489,000. Finally, Renaissance Technologies LLC grew its holdings in Paysign by 11.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company’s stock valued at $4,535,000 after buying an additional 149,200 shares in the last quarter. 25.89% of the stock is owned by institutional investors.

About Paysign

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.