Paymentus (NYSE:PAY) Stock Price Up 6.8% – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price traded up 6.8% during trading on Tuesday . The company traded as high as $33.51 and last traded at $33.6060. Approximately 275,655 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 800,332 shares. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PAY shares. Weiss Ratings cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wedbush raised their price objective on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird cut Paymentus from an “outperform” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Stock Down 4.3%

The firm has a market cap of $4.42 billion, a P/E ratio of 61.91 and a beta of 1.31. The company’s 50 day simple moving average is $25.07 and its 200-day simple moving average is $25.75.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Equities research analysts predict that Paymentus Holdings, Inc. will post 0.71 EPS for the current year.

Institutional Trading of Paymentus

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