Paymentus (NYSE:PAY) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Paymentus (NYSE:PAY) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

PAY has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Robert W. Baird lifted their target price on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings raised Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Wolfe Research downgraded Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.67.

Paymentus Price Performance

Shares of PAY stock opened at $36.15 on Friday. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 54.77 and a beta of 1.31. Paymentus has a one year low of $20.11 and a one year high of $45.31. The company’s fifty day moving average price is $34.01 and its 200-day moving average price is $27.85.

Paymentus (NYSE:PAY) last released 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 company had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. During the same quarter in the previous year, the company earned $0.11 EPS. Paymentus’s revenue for the quarter was up 28.8% on a year-over-year basis. Equities research analysts expect that Paymentus will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Paymentus

In related news, CFO Sanjay Kalra sold 2,909 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the sale, the chief financial officer owned 505,597 shares of the company’s stock, valued at $20,350,279.25. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the sale, the director directly owned 509,888 shares in the company, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 147,909 shares of company stock worth $5,735,337 in the last 90 days. 55.75% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

Several hedge funds have recently made changes to their positions in PAY. Raymond James Financial Inc. grew its position in Paymentus by 0.7% in the second quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock worth $1,834,000 after acquiring an additional 413 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Paymentus by 7.2% during the first quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after purchasing an additional 665 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Paymentus by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 683 shares during the period. LVZ Inc. lifted its stake in shares of Paymentus by 5.5% in the 1st quarter. LVZ Inc. now owns 13,760 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 713 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of Paymentus by 6.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 14,000 shares of the business services provider’s stock valued at $442,000 after purchasing an additional 900 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Paymentus

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.