Paymentus (NYSE:PAY) Rating Lowered to Neutral at Robert W. Baird

Paymentus (NYSE:PAY) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $34.00 price target on the business services provider’s stock. Robert W. Baird’s target price suggests a potential downside of 0.38% from the stock’s current price.

Several other research analysts have also recently issued reports on PAY. Weiss Ratings cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wedbush upped their target price on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Trading Down 2.1%

NYSE:PAY opened at $34.13 on Thursday. The firm has a fifty day simple moving average of $25.52 and a 200-day simple moving average of $25.84. Paymentus has a 12 month low of $20.11 and a 12 month high of $39.38. The company has a market capitalization of $4.29 billion, a P/E ratio of 59.88 and a beta of 1.31.

Paymentus (NYSE:PAY) last issued its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. Equities analysts forecast that Paymentus will post 0.71 EPS for the current year.

Insider Transactions at Paymentus

In related news, Director Gary Trainor sold 40,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $33.12, for a total transaction of $1,324,800.00. Following the completion of the transaction, the director directly owned 629,888 shares in the company, valued at $20,861,890.56. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 55.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new stake in Paymentus during the first quarter worth about $41,000. Blue Trust Inc. lifted its holdings in Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 1,319 shares during the period. Los Angeles Capital Management LLC acquired a new position in Paymentus in the fourth quarter valued at approximately $80,000. Orange County Employees Retirement System purchased a new stake in Paymentus in the 4th quarter worth approximately $150,000. Finally, Advisors Asset Management Inc. boosted its position in Paymentus by 26.0% in the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,042 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.