Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given an average rating of “Hold” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $38.6667.

A number of equities research analysts have recently weighed in on the company. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group raised their price target on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Wolfe Research cut Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Finally, Robert W. Baird increased their price objective on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th.

Insider Buying and Selling at Paymentus

In related news, CFO Sanjay Kalra sold 25,000 shares of the company’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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary Trainor sold 80,000 shares of the stock in a transaction 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 directly owned 509,888 shares of the company’s stock, valued at $20,798,331.52. The trade was a 13.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 147,909 shares of company stock worth $5,735,337. 55.75% of the stock is owned by insiders.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAY. Royal Bank of Canada increased its position in Paymentus by 26.8% during the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock valued at $4,780,000 after purchasing an additional 38,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Paymentus by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after buying an additional 683 shares during the period. Millennium Management LLC raised its stake in Paymentus by 4.2% in the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after buying an additional 9,890 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Paymentus by 275.8% in the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after buying an additional 419,736 shares during the period. Finally, Legal & General Group Plc boosted its position in Paymentus by 34.7% during the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 6,616 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

PAY stock opened at $36.08 on Monday. The firm has a market cap of $4.54 billion, a P/E ratio of 54.67 and a beta of 1.29. The firm’s fifty day moving average is $32.56 and its 200 day moving average is $27.44. Paymentus has a 52 week low of $20.11 and a 52 week high of $45.31.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The business had revenue of $360.74 million during the quarter, compared to the consensus estimate of $345.44 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, analysts forecast that Paymentus will post 0.77 EPS for the current 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.