Paymentus (NYSE:PAY) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Paymentus (NYSE:PAY) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upgraded Paymentus from a neutral rating to an outperform rating and set a $23.00 price target for the company in a report on Wednesday, July 10th. Citigroup boosted their price objective on Paymentus from $20.00 to $22.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price target on Paymentus from $19.00 to $21.00 and gave the stock an equal weight rating in a research report on Tuesday, May 7th. Canaccord Genuity Group raised Paymentus to a strong-buy rating in a research report on Monday, July 8th. Finally, The Goldman Sachs Group upped their target price on Paymentus from $20.00 to $22.50 and gave the company a neutral rating in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $19.06.

Paymentus Stock Performance

PAY stock opened at $18.40 on Friday. The business’s 50-day moving average is $19.42 and its two-hundred day moving average is $19.16. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 80.00 and a beta of 1.47. Paymentus has a fifty-two week low of $10.51 and a fifty-two week high of $25.21.

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 the consensus estimate of $0.06 by $0.02. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. The firm had revenue of $184.88 million during the quarter, compared to analysts’ expectations of $174.75 million. Equities analysts predict that Paymentus will post 0.29 earnings per share for the current year.

Insider Transactions at Paymentus

In related news, General Counsel Andrew A. Gerber sold 5,576 shares of Paymentus stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.85, for a total value of $105,107.60. Following the completion of the transaction, the general counsel now directly owns 136,536 shares in the company, valued at $2,573,703.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, General Counsel Andrew A. Gerber sold 1,575 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.81, for a total value of $29,625.75. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.85, for a total value of $105,107.60. Following the completion of the transaction, the general counsel now owns 136,536 shares in the company, 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 Investors Weigh In On Paymentus

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Paymentus by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock valued at $31,596,000 after buying an additional 8,457 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Paymentus by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock valued at $4,699,000 after buying an additional 1,141 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Paymentus by 53,916.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock worth $3,475,000 after purchasing an additional 194,100 shares during the last quarter. CenterBook Partners LP acquired a new stake in Paymentus during the fourth quarter worth about $1,465,000. Finally, Quadrature Capital Ltd raised its stake in Paymentus by 130.1% during the first quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock worth $1,575,000 after acquiring an additional 39,136 shares during the period. 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.