Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Rating of “Moderate Buy” from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $38.6667.

A number of research analysts have recently issued reports on PAY shares. The Goldman Sachs Group raised their price target on shares of Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wedbush increased their price objective on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wolfe Research reissued an “outperform” rating and issued a $44.00 target price on shares of Paymentus in a report on Tuesday. Finally, Robert W. Baird lifted their target price on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday.

Insider Buying and Selling at Paymentus

In related news, Director Gary Trainor sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $33.12, for a total value of $1,324,800.00. Following the sale, the director owned 629,888 shares of the company’s stock, valued at approximately $20,861,890.56. This trade represents a 5.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 55.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PAY. Wedge Capital Management L L P NC acquired a new stake in Paymentus in the second quarter worth $2,008,000. Handelsbanken Fonder AB boosted its holdings in shares of Paymentus by 88.7% during the second quarter. Handelsbanken Fonder AB now owns 18,300 shares of the business services provider’s stock valued at $442,000 after acquiring an additional 8,600 shares during the period. Bank of America Corp DE boosted its holdings in shares of Paymentus by 155.1% during the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after acquiring an additional 212,778 shares during the period. California State Teachers Retirement System grew its position in shares of Paymentus by 77.1% during the first quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock worth $1,629,000 after acquiring an additional 27,921 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Paymentus by 7.2% during the first quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock worth $253,000 after acquiring an additional 665 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Trading Down 9.6%

PAY stock opened at $40.32 on Thursday. The firm has a market cap of $5.07 billion, a P/E ratio of 61.09 and a beta of 1.29. Paymentus has a 12-month low of $20.11 and a 12-month high of $45.31. The stock’s 50 day simple moving average is $26.50 and its 200 day simple moving average is $26.03.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a return on equity of 15.62% and a net margin of 6.24%.The firm had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. During the same period last year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, research analysts forecast that Paymentus will post 0.71 EPS for the current fiscal year.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.