Paymentus (NYSE:PAY) Raised to “Buy” at Wall Street Zen

Paymentus (NYSE:PAY) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other analysts also recently commented on PAY. Wolfe Research downgraded Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group boosted their price target 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 upped their price target on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Paymentus currently has an average rating of “Hold” and an average target price of $38.67.

Paymentus Stock Performance

Shares of PAY stock opened at $37.14 on Friday. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 56.27 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 50-day moving average is $35.23 and its 200 day moving average is $28.37.

Paymentus (NYSE:PAY) last issued its earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The business had revenue of $360.74 million during the quarter, compared to analysts’ expectations of $345.44 million. During the same period in the previous year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, research analysts predict that Paymentus will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Paymentus

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the business’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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 2,909 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total value of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares in the company, valued at $20,350,279.25. The trade was a 0.57% decrease in their ownership of the stock. 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 corporate insiders.

Institutional Trading of Paymentus

Several large investors have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new stake in Paymentus during the second quarter valued at $367,000. Arizona State Retirement System grew its stake in shares of Paymentus by 13.5% during the 2nd quarter. Arizona State Retirement System now owns 15,611 shares of the business services provider’s stock valued at $377,000 after purchasing an additional 1,861 shares during the period. California State Teachers Retirement System grew its stake in shares of Paymentus by 2,346.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,569,216 shares of the business services provider’s stock valued at $37,912,000 after purchasing an additional 1,505,085 shares during the period. Globeflex Capital L P purchased a new stake in shares of Paymentus during the 2nd quarter valued at about $2,134,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Paymentus during the 2nd quarter valued at about $2,008,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based electronic bill presentment and payment technology. Its platform enables organizations to issue bills and invoices, accept digital payments, and manage payment-related communications through web, mobile, text, interactive voice response, and other channels.

The company serves billers across industries including utilities, government, financial services, telecommunications, insurance, and other recurring-payment businesses. Its offerings are designed to support payment processing, billing and account management, customer engagement, automated notifications, and related back-office workflows through a unified software platform.

Paymentus was founded in 2004 and primarily serves organizations in the United States and Canada.