Paymentus Holdings, Inc. (NYSE:PAY) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

by · The Markets Daily

Shares of Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $38.86.

A number of research firms recently commented on PAY. Weiss Ratings raised Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Robert W. Baird increased their price objective on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Freedom Broker upgraded shares of Paymentus to a “strong-buy” rating in a research report on Tuesday, September 15th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Finally, Wolfe Research downgraded shares of Paymentus from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th.

Check Out Our Latest Research Report on PAY

Insiders Place Their Bets

In other Paymentus news, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction 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 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 legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Kalra sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer owned 508,506 shares in the company, valued at approximately $20,955,532.26. The trade was a 4.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 147,909 shares of company stock valued at $5,735,337. 55.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV bought a new stake in Paymentus in the 1st quarter worth approximately $41,000. State of Alaska Department of Revenue purchased a new stake in shares of Paymentus during the 3rd quarter worth approximately $63,000. OP Asset Management Ltd purchased a new stake in shares of Paymentus during the 1st quarter worth approximately $215,000. The Manufacturers Life Insurance Company boosted its position in shares of Paymentus by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after acquiring an additional 665 shares during the last quarter. Finally, 9823 Capital L.P. bought a new position in shares of Paymentus during the 4th quarter valued at approximately $255,000. Institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

PAY opened at $31.39 on Tuesday. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 47.56 and a beta of 1.34. The firm’s fifty day moving average is $35.01 and its 200 day moving average is $29.62. Paymentus has a fifty-two week low of $20.11 and a fifty-two week high of $45.31.

Paymentus (NYSE:PAY – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%. The business had revenue of $360.74 million during the quarter, compared to analyst estimates of $345.44 million. During the same quarter in the prior year, the business posted $0.11 EPS. Paymentus’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, equities research analysts predict that Paymentus will post 0.75 earnings per share for the current year.

About Paymentus

(Get Free Report)

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.

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