Paymentus (NYSE:PAY) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Paymentus (NYSE:PAY) posted its quarterly earnings data on Monday. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02, FiscalAI reports. The company had revenue of $330.46 million for the quarter, compared to the consensus estimate of $313.77 million. Paymentus had a net margin of 5.29% and a return on equity of 12.68%.

Paymentus Trading Down 5.6%

PAY stock traded down $1.45 during mid-day trading on Monday, hitting $24.48. 2,296,372 shares of the company were exchanged, compared to its average volume of 705,917. The business has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $32.02. Paymentus has a 1-year low of $22.65 and a 1-year high of $40.43. The stock has a market capitalization of $3.07 billion, a PE ratio of 53.21 and a beta of 1.49.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in Paymentus during the 4th quarter worth approximately $80,000. Advisors Asset Management Inc. boosted its holdings in Paymentus by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 1,042 shares during the last quarter. Vident Advisory LLC bought a new stake in Paymentus in the second quarter valued at approximately $204,000. Bayesian Capital Management LP acquired a new stake in Paymentus during the 2nd quarter valued at approximately $226,000. Finally, Mangrove Partners IM LLC bought a new position in Paymentus during the 4th quarter worth approximately $244,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PAY has been the topic of several recent research reports. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Raymond James Financial upgraded Paymentus from an “outperform” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a report on Friday. JPMorgan Chase & Co. lifted their target price on Paymentus from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Paymentus in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.