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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.6667.

Several research firms recently commented on PAY. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Robert W. Baird upped their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group increased their target price on shares of Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Seaport Research Partners assumed coverage on Paymentus in a research note on Thursday, September 17th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Freedom Broker raised Paymentus to a “strong-buy” rating in a report on Tuesday, September 15th.

Insider Buying and Selling at Paymentus

In related news, CFO Sanjay Kalra sold 2,909 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares in the company, valued at approximately $20,350,279.25. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following the transaction, the director owned 509,888 shares in the company, valued at approximately $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 147,909 shares of company stock worth $5,735,337. 55.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paymentus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Capital International Investors lifted its stake in shares of Paymentus by 6.6% in the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after purchasing an additional 474,780 shares during the last quarter. Capital World Investors increased its position 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 last quarter. Next Century Growth Investors LLC raised its holdings in Paymentus by 1.3% in the 4th quarter. Next Century Growth Investors LLC now owns 1,181,624 shares of the business services provider’s stock valued at $37,328,000 after buying an additional 14,786 shares during the period. Dimensional Fund Advisors LP lifted its position in Paymentus by 42.3% in the first quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock valued at $21,227,000 after buying an additional 248,514 shares during the last quarter. Finally, North Reef Capital Management LP acquired a new position in Paymentus in the first quarter valued at about $18,658,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Trading Down 6.4%

Shares of NYSE:PAY opened at $32.29 on Friday. Paymentus has a 12-month low of $20.11 and a 12-month high of $45.31. The company has a market capitalization of $4.07 billion, a PE ratio of 48.92 and a beta of 1.31. The business has a 50 day moving average of $36.03 and a two-hundred day moving average of $28.80.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The business’s revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. Equities research analysts predict that Paymentus will post 0.75 earnings per share for the current fiscal year.

Paymentus Company Profile

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based electronic bill presentment and payment technology. Its platform enables organizations to issue bills and invoices, accept digital payments, and manage payment-related communications through web, mobile, text, interactive voice response, and other channels.

The company serves billers across industries including utilities, government, financial services, telecommunications, insurance, and other recurring-payment businesses. Its offerings are designed to support payment processing, billing and account management, customer engagement, automated notifications, and related back-office workflows through a unified software platform.

Paymentus was founded in 2004 and primarily serves organizations in the United States and Canada.