Paymentus (NYSE:PAY) Rating Lowered to Hold at Wall Street Zen

Paymentus (NYSE:PAY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group upped their target price on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Robert W. Baird increased their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.67.

Paymentus Trading Down 0.1%

Shares of NYSE PAY opened at $36.15 on Friday. Paymentus has a twelve month low of $20.11 and a twelve month high of $45.31. The stock has a 50 day moving average of $34.01 and a two-hundred day moving average of $27.88. The stock has a market cap of $4.55 billion, a P/E ratio of 54.77 and a beta of 1.31.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $360.74 million during the quarter, compared to the consensus estimate of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The company’s revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, research analysts predict that Paymentus will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total value of $3,263,200.00. Following the transaction, the director directly owned 509,888 shares of the company’s stock, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Kalra sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the completion of the transaction, the chief financial officer directly owned 508,506 shares in the company, valued at $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 147,909 shares of company stock worth $5,735,337. 55.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares in the last quarter. Capital International Investors raised its position in Paymentus by 6.6% in the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock worth $241,835,000 after acquiring an additional 474,780 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Paymentus by 20.7% during the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after purchasing an additional 753,281 shares in the last quarter. Invesco Ltd. grew its stake in shares of Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after purchasing an additional 2,032,819 shares during the period. Finally, Capital World Investors grew its stake in shares of Paymentus by 4.4% during the 4th quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock worth $78,962,000 after purchasing an additional 105,970 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Company Profile

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.