Paymentus (NYSE:PAY) Releases Earnings Results, Beats Expectations By $0.04 EPS

Paymentus (NYSE:PAY) issued its earnings results on Monday. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04, FiscalAI reports. The business had revenue of $372.18 million during the quarter, compared to analysts’ expectations of $358.87 million. Paymentus had a net margin of 6.24% and a return on equity of 15.26%.

Paymentus Trading Up 6.9%

NYSE:PAY traded up $2.26 during trading hours on Monday, hitting $35.08. The company had a trading volume of 1,885,166 shares, compared to its average volume of 907,274. The company has a 50-day moving average of $33.73 and a 200 day moving average of $28.81. The company has a market cap of $4.42 billion, a P/E ratio of 53.15 and a beta of 1.34. Paymentus has a 1 year low of $20.11 and a 1 year high of $45.31.

Insiders Place Their Bets

In other Paymentus news, CFO Sanjay Kalra sold 2,909 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total value of $117,087.25. Following the completion of the sale, the chief financial officer directly owned 505,597 shares of the company’s stock, valued at $20,350,279.25. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,909 shares of company stock valued at $4,410,537 over the last ninety days. Corporate insiders own 55.75% of the company’s stock.

Wall Street Analysts Forecast Growth

PAY has been the topic of a number of recent research reports. Yorkville Ives began coverage on shares of Paymentus in a research report on Tuesday, October 6th. They set an “outperform” rating and a $40.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Robert W. Baird increased their price objective on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings lowered shares of Paymentus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Finally, Seaport Research Partners started coverage on shares of Paymentus in a research note on Thursday, September 17th. They issued a “buy” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Paymentus currently has an average rating of “Moderate Buy” and an average target price of $38.86.

About Paymentus

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.