Paymentus (NYSE:PAY) Releases Earnings Results, Beats Expectations By $0.02 EPS

Paymentus (NYSE:PAY) released its earnings results on Monday. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02, Zacks reports. Paymentus had a net margin of 5.78% and a return on equity of 13.75%.

Paymentus Stock Up 0.7%

Shares of PAY traded up $0.24 during midday trading on Monday, reaching $34.34. The company had a trading volume of 1,334,302 shares, compared to its average volume of 828,656. Paymentus has a 1-year low of $20.11 and a 1-year high of $39.38. The stock has a market cap of $4.32 billion, a PE ratio of 60.25 and a beta of 1.31. The firm has a 50 day simple moving average of $25.52 and a 200-day simple moving average of $25.81.

Wall Street Analysts Forecast Growth

PAY has been the topic of a number of recent research reports. Robert W. Baird lowered shares of Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Thursday. Weiss Ratings downgraded shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Wedbush raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paymentus has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.

Insider Activity at Paymentus

In other news, Director Gary Trainor sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $33.12, for a total transaction of $1,324,800.00. Following the transaction, the director owned 629,888 shares of the company’s stock, valued at approximately $20,861,890.56. The trade was a 5.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 bought and sold shares of PAY. Los Angeles Capital Management LLC acquired a new position in Paymentus in the 4th quarter valued at about $80,000. Advisors Asset Management Inc. grew its stake in shares of Paymentus by 26.0% in the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after buying an additional 1,042 shares during the period. Vident Advisory LLC acquired a new stake in shares of Paymentus during the 2nd quarter worth approximately $204,000. Bayesian Capital Management LP acquired a new stake in shares of Paymentus during the 2nd quarter worth approximately $226,000. Finally, Mangrove Partners IM LLC purchased a new stake in shares of Paymentus during the 4th quarter valued at approximately $244,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.