Paymentus (NYSE:PAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a research note published on Sunday morning,Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. The Goldman Sachs Group increased their price target on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Finally, Robert W. Baird lifted their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.67.

Paymentus Stock Down 3.3%

PAY stock opened at $35.86 on Friday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 54.33 and a beta of 1.31. Paymentus has a 12 month low of $20.11 and a 12 month high of $45.31. The firm has a 50 day moving average of $35.38 and a two-hundred day moving average of $28.45.

Paymentus (NYSE:PAY) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The company had revenue of $360.74 million for 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 quarterly revenue was up 28.8% on a year-over-year basis. On average, research analysts expect that Paymentus will post 0.76 EPS for the current fiscal year.

Insider Activity at Paymentus

In related news, Director Gary Trainor sold 80,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 509,888 shares in the company, valued at approximately $20,798,331.52. This trade represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 2,909 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the completion of the sale, the chief financial officer owned 505,597 shares of the company’s stock, valued at approximately $20,350,279.25. The trade was a 0.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 147,909 shares of company stock valued at $5,735,337 over the last three months. 55.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paymentus

Several large investors have recently added to or reduced their stakes in PAY. Engineers Gate Manager LP acquired a new stake in shares of Paymentus during the 2nd quarter worth approximately $367,000. Arizona State Retirement System raised its stake in shares of Paymentus by 13.5% in the second quarter. Arizona State Retirement System now owns 15,611 shares of the business services provider’s stock valued at $377,000 after purchasing an additional 1,861 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Paymentus in the second quarter valued at $2,134,000. Wedge Capital Management L L P NC bought a new position in Paymentus in the second quarter worth $2,008,000. Finally, Handelsbanken Fonder AB lifted its position in Paymentus by 88.7% in the second quarter. Handelsbanken Fonder AB now owns 18,300 shares of the business services provider’s stock worth $442,000 after purchasing an additional 8,600 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based electronic bill presentment and payment technology. Its platform enables organizations to issue bills and invoices, accept digital payments, and manage payment-related communications through web, mobile, text, interactive voice response, and other channels.

The company serves billers across industries including utilities, government, financial services, telecommunications, insurance, and other recurring-payment businesses. Its offerings are designed to support payment processing, billing and account management, customer engagement, automated notifications, and related back-office workflows through a unified software platform.

Paymentus was founded in 2004 and primarily serves organizations in the United States and Canada.