Paymentus (NYSE:PAY) Stock Price Down 4.7% – What’s Next?

Paymentus Holdings, Inc. (NYSE:PAY) dropped 4.7% on Tuesday . The company traded as low as $37.85 and last traded at $38.0550. Approximately 88,444 shares were traded during mid-day trading, a decline of 90% from the average session volume of 870,495 shares. The stock had previously closed at $39.94.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAY. Weiss Ratings lowered Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. The Goldman Sachs Group raised their target price on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Wedbush lifted their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Wolfe Research downgraded shares of Paymentus from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, Robert W. Baird increased their price target on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.67.

Paymentus Trading Down 3.2%

The business’s fifty day simple moving average is $31.25 and its 200-day simple moving average is $27.09. The firm has a market cap of $4.87 billion, a P/E ratio of 58.59 and a beta of 1.28.

Paymentus (NYSE:PAY) last posted its earnings results 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 15.26% and a net margin of 6.24%.The firm had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, research analysts expect that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Transactions at Paymentus

In related news, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the sale, the director owned 509,888 shares of the company’s stock, valued at approximately $20,798,331.52. This represents a 13.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the completion of the sale, the chief financial officer 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. Insiders have sold a total of 147,909 shares of company stock valued at $5,735,337 in the last ninety days. Insiders own 55.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. KBC Group NV purchased a new position in Paymentus during the first quarter worth about $41,000. Los Angeles Capital Management LLC bought a new stake in shares of Paymentus during the 4th quarter valued at about $80,000. Orange County Employees Retirement System bought a new stake in shares of Paymentus during the 4th quarter valued at about $150,000. Advisors Asset Management Inc. grew its holdings in shares of Paymentus by 26.0% during the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Paymentus during the second quarter worth about $204,000. Institutional investors own 78.38% of the company’s stock.

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.