Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Rating of “Moderate Buy” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $38.6667.

Several brokerages have recently commented on PAY. Wolfe Research lowered Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Seaport Research Partners began coverage on shares of Paymentus in a report on Thursday. They issued a “buy” rating and a $42.00 price objective on the stock. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Finally, Freedom Broker raised shares of Paymentus to a “strong-buy” rating in a research report on Tuesday.

Insider Buying and Selling

In other news, CFO Sanjay Kalra sold 2,909 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total value of $117,087.25. Following the sale, the chief financial officer directly owned 505,597 shares of the company’s stock, valued at approximately $20,350,279.25. The trade was a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Trainor sold 80,000 shares of the company’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 transaction of $3,263,200.00. Following the completion of 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. Insiders sold a total of 147,909 shares of company stock worth $5,735,337 over the last three months. Insiders own 55.75% of the company’s stock.

Institutional Trading of Paymentus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new position in Paymentus during the first quarter worth $18,658,000. William Blair Investment Management LLC acquired a new stake in shares of Paymentus in the fourth quarter valued at $16,127,000. Capital International Investors raised its holdings 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 buying an additional 474,780 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its holdings in shares of Paymentus by 70.6% in the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock valued at $18,630,000 after buying an additional 303,554 shares during the period. Finally, Castleark Management LLC acquired a new position in Paymentus during the 1st quarter worth about $6,878,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

PAY stock opened at $36.16 on Friday. Paymentus has a one year low of $20.11 and a one year high of $45.31. The firm has a market cap of $4.55 billion, a PE ratio of 54.79 and a beta of 1.31. The firm’s 50 day moving average price is $35.71 and its 200-day moving average price is $28.62.

Paymentus (NYSE:PAY) last issued its quarterly earnings data 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. The company had revenue of $360.74 million during the quarter, compared to analyst estimates of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Equities research analysts predict that Paymentus will post 0.75 EPS 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.