StockNews.com Lowers Paymentus (NYSE:PAY) to Sell

Paymentus (NYSE:PAY) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other research analysts have also recently issued reports about the company. Baird R W raised Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research report on Monday, July 8th. Wells Fargo & Company raised their target price on shares of Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Citigroup boosted their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Paymentus currently has an average rating of “Hold” and a consensus price target of $19.06.

Paymentus Stock Performance

Shares of PAY traded up $0.99 during mid-day trading on Friday, hitting $21.30. 191,089 shares of the company’s stock were exchanged, compared to its average volume of 260,796. The stock’s 50-day moving average is $19.23 and its 200-day moving average is $19.01. Paymentus has a fifty-two week low of $10.45 and a fifty-two week high of $25.21. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 92.61 and a beta of 1.46.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $184.88 million for the quarter, compared to analyst estimates of $174.75 million. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. As a group, equities research analysts anticipate that Paymentus will post 0.29 EPS for the current year.

Insider Activity

In other news, General Counsel Andrew A. Gerber sold 1,575 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the transaction, the general counsel now owns 142,112 shares in the company, valued at approximately $2,673,126.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Andrew A. Gerber sold 1,575 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the sale, the general counsel now owns 142,112 shares in the company, valued at approximately $2,673,126.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $18.85, for a total transaction of $105,107.60. Following the completion of the sale, the general counsel now owns 136,536 shares of the company’s stock, valued at approximately $2,573,703.60. The disclosure for this sale can be found here. Company insiders own 87.76% of the company’s stock.

Institutional Trading of Paymentus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Paymentus in the 4th quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 4,629 shares during the period. Russell Investments Group Ltd. purchased a new stake in Paymentus in the 1st quarter valued at approximately $106,000. RiverPark Advisors LLC acquired a new position in Paymentus during the 1st quarter worth approximately $136,000. Finally, Trexquant Investment LP acquired a new position in Paymentus during the 4th quarter worth approximately $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

Paymentus Company Profile

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.