Q: Can you please provide an update on the current situation at PAY.?
I tried selling my shares today through my online brokerage but transaction was denied
due to 'pending sale'.
Would appreciate your comments on latest developments.
Thank you
I tried selling my shares today through my online brokerage but transaction was denied
due to 'pending sale'.
Would appreciate your comments on latest developments.
Thank you
5i Research Answer:
PAY is still undergoing a strategic review, but this should not restrict trading in any way. No announcements have been made at the time of this answer. Sales rose 25% in the Q3 and net income rose 8%. It has $87M cash on the books. With the loss of its biggest contract, EPS next year is expected to fall by at least 50%. We do not find it overly attractive today, but holders could wait until the review is completed, as there is always a chance of a positive outcome from it.