Paymentus (NYSE:PAY) Sets New 52-Week High – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.31 and last traded at $44.42, with a volume of 4597536 shares. The stock had previously closed at $34.52.

Analyst Ratings Changes

PAY has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wedbush lifted their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wolfe Research reissued an “outperform” rating and issued a $44.00 price objective on shares of Paymentus in a research report on Tuesday. Finally, Robert W. Baird raised their target price on shares of Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Paymentus Price Performance

The company has a market cap of $5.04 billion, a PE ratio of 60.72 and a beta of 1.29. The company has a 50-day moving average price of $26.83 and a two-hundred day moving average price of $26.10.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The company’s revenue was up 28.8% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. On average, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Sanjay Kalra sold 2,909 shares of Paymentus stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the sale, the chief financial officer owned 505,597 shares in the company, valued at $20,350,279.25. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 147,909 shares of company stock worth $5,735,337 in the last quarter. Insiders own 55.75% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Wasatch Advisors LP lifted its stake in shares of Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after acquiring an additional 3,859,056 shares in the last quarter. Invesco Ltd. boosted its holdings in Paymentus by 115.8% in the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after purchasing an additional 2,032,819 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Paymentus during the 4th quarter valued at approximately $60,452,000. Brown Brothers Harriman & Co. grew its stake in Paymentus by 148.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock valued at $49,931,000 after purchasing an additional 943,244 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Paymentus by 20.7% during the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after purchasing an additional 753,281 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

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.