Paymentus (NYSE:PAY) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Paymentus Holdings, Inc. (NYSE:PAY) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $29.31 and traded as high as $32.31. Paymentus shares last traded at $31.8360, with a volume of 423,908 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PAY shares. Wolfe Research cut shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Robert W. Baird upped their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Seaport Research Partners initiated coverage on shares of Paymentus in a research report on Thursday, September 17th. They set a “buy” rating and a $42.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.67.

Paymentus Trading Down 0.3%

The company has a fifty day moving average of $35.96 and a 200-day moving average of $29.31. The stock has a market cap of $4.01 billion, a PE ratio of 48.24 and a beta of 1.34.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The company had revenue of $360.74 million during the quarter, compared to analysts’ expectations of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%. Paymentus’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. As a group, research analysts anticipate that Paymentus Holdings, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the stock in a transaction that occurred 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 $20,798,331.52. This represents a 13.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the sale, the chief financial officer owned 508,506 shares in the company, valued at approximately $20,955,532.26. This trade represents a 4.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,909 shares of company stock valued at $5,735,337 in the last 90 days. Company insiders own 55.75% of the company’s stock.

Hedge Funds Weigh In On Paymentus

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Paymentus by 42.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock worth $21,227,000 after purchasing an additional 248,514 shares in the last quarter. California State Teachers Retirement System increased its holdings in Paymentus by 77.1% during the 1st quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock worth $1,629,000 after purchasing an additional 27,921 shares during the period. Bank of America Corp DE raised its position in Paymentus by 155.1% in the 1st quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after purchasing an additional 212,778 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Paymentus in the 2nd quarter valued at about $2,008,000. Finally, Lazard Asset Management LLC raised its position in Paymentus by 83.8% in the 1st quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider’s stock valued at $1,854,000 after purchasing an additional 33,278 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based bill payment and electronic bill presentment technology. Its platform enables organizations to accept and process payments through digital and traditional channels, while helping customers manage billing, communications and payment-related interactions.

The company serves billers across industries including utilities, municipalities and other government entities, financial institutions, telecommunications providers, insurance companies, health-care organizations and education providers.