Paymentus (NYSE:PAY) Sets New 12-Month Low – Here’s Why

Paymentus Holdings, Inc. (NYSE:PAY) hit a new 52-week low during trading on Friday . The company traded as low as $20.52 and last traded at $20.65, with a volume of 519945 shares. The stock had previously closed at $21.17.

Wall Street Analysts Forecast Growth

PAY has been the subject of a number of research reports. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Robert W. Baird raised their price objective on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Wedbush lifted their price target on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $36.00 price target on shares of Paymentus in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Stock Performance

The company has a 50-day simple moving average of $25.46 and a 200 day simple moving average of $27.66. The company has a market capitalization of $2.62 billion, a P/E ratio of 36.52 and a beta of 1.33.

Paymentus (NYSE:PAY) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $358.44 million for the quarter, compared to the consensus estimate of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts forecast that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PAY. Wasatch Advisors LP increased its position 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 position in shares of Paymentus by 6.6% during the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after purchasing an additional 474,780 shares during the period. Vanguard Group Inc. increased its position in shares of Paymentus by 20.7% during the fourth quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after purchasing an additional 753,281 shares during the period. Invesco Ltd. increased its position in shares of Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after purchasing an additional 2,032,819 shares during the period. Finally, Capital World Investors increased its position in shares of Paymentus by 4.4% during the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock valued at $78,962,000 after purchasing an additional 105,970 shares during the period. 78.38% of the stock is owned by institutional investors.

Paymentus Company Profile

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.