Paymentus (NYSE:PAY) Trading Down 4.7% – Should You Sell?

Shares of Paymentus Holdings, Inc. (NYSE:PAY) fell 4.7% during trading on Tuesday . The company traded as low as $37.85 and last traded at $38.0550. Approximately 88,444 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 870,495 shares. The stock had previously closed at $39.94.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Robert W. Baird upped their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group increased their target price on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.67.

Paymentus Trading Down 3.2%

The company’s fifty day simple moving average is $31.25 and its 200 day simple moving average is $27.09. The firm has a market capitalization of $4.87 billion, a P/E ratio of 58.59 and a beta of 1.28.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, analysts predict that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Activity at Paymentus

In other news, CFO Sanjay Kalra sold 2,909 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 505,597 shares in the company, valued at $20,350,279.25. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total value of $3,263,200.00. Following the sale, the director owned 509,888 shares in the company, valued at $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. Over the last ninety days, insiders have sold 147,909 shares of company stock worth $5,735,337. Insiders own 55.75% of the company’s stock.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV purchased a new position in Paymentus during the first quarter valued at $41,000. Los Angeles Capital Management LLC purchased a new stake in shares of Paymentus in the 4th quarter worth about $80,000. Orange County Employees Retirement System bought a new position in shares of Paymentus in the 4th quarter worth about $150,000. Advisors Asset Management Inc. increased its stake in shares of 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 acquiring an additional 1,042 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in Paymentus during the 2nd quarter valued at about $204,000. Institutional investors 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.