Paymentus (NYSE:PAY) Sets New 52-Week Low – Here’s Why

Paymentus Holdings, Inc. (NYSE:PAY) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $20.27 and last traded at $20.33, with a volume of 118559 shares changing hands. The stock had previously closed at $21.07.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAY shares. The Goldman Sachs Group lowered their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 price target on shares of Paymentus in a report on Friday, March 6th. Robert W. Baird raised their price target on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Wedbush increased their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Price Performance

The business has a 50 day simple moving average of $24.58 and a 200 day simple moving average of $26.63. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 35.75 and a beta of 1.33.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. Paymentus’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, sell-side analysts anticipate that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP increased its position in shares of Paymentus by 82.2% in the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock valued at $270,194,000 after buying an additional 3,859,056 shares in the last quarter. Invesco Ltd. lifted its holdings in Paymentus by 115.8% during the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after acquiring an additional 2,032,819 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Paymentus in the fourth quarter valued at about $60,452,000. Capital International Investors increased its holdings in shares of Paymentus by 17.6% in the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after acquiring an additional 1,072,387 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Paymentus by 148.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after acquiring an additional 943,244 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.