Paymentus (NYSE:PAY) Share Price Crosses Above Two Hundred Day Moving Average of $17.62

Shares of Paymentus Holdings, Inc. (NYSE:PAY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.62 and traded as high as $19.64. Paymentus shares last traded at $19.34, with a volume of 166,694 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. TheStreet cut shares of Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.81.

Paymentus Stock Up 0.2 %

The business’s 50 day moving average is $19.71 and its two-hundred day moving average is $17.62. The firm has a market cap of $2.40 billion, a P/E ratio of 107.44 and a beta of 1.51.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The business had revenue of $164.80 million during the quarter, compared to the consensus estimate of $157.38 million. During the same quarter last year, the firm earned $0.02 earnings per share. Paymentus’s quarterly revenue was up 24.7% on a year-over-year basis. Equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Barclays PLC purchased a new stake in Paymentus in the second quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paymentus during the 4th quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paymentus by 2,948.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after acquiring an additional 4,629 shares during the last quarter. Trexquant Investment LP bought a new stake in Paymentus in the 4th quarter valued at about $254,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Paymentus during the fourth quarter valued at about $283,000. 12.55% of the stock is owned by institutional investors.

About Paymentus

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.