Paymentus (NYSE:PAY) Shares Down 5% – Time to Sell?

Paymentus Holdings, Inc. (NYSE:PAY) shares fell 5% during trading on Tuesday . The company traded as low as $32.67 and last traded at $32.7690. Approximately 432,751 shares traded hands during trading, a decline of 51% from the average session volume of 891,033 shares. The stock had previously closed at $34.50.

Analyst Ratings Changes

A number of equities analysts recently commented on PAY shares. The Goldman Sachs Group increased their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Seaport Research Partners initiated coverage on shares of Paymentus in a research report on Thursday, September 17th. They set a “buy” rating and a $42.00 target price on the stock. Robert W. Baird upped their price target on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Freedom Broker raised shares of Paymentus to a “strong-buy” rating in a report on Tuesday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

Paymentus Stock Performance

The company has a 50-day simple moving average of $35.96 and a 200-day simple moving average of $28.75. The stock has a market cap of $4.13 billion, a P/E ratio of 49.74 and a beta of 1.31.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm 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 firm earned $0.11 EPS. The company’s revenue was up 28.8% on a year-over-year basis. As a group, sell-side analysts expect that Paymentus Holdings, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total value of $3,263,200.00. Following the transaction, the director owned 509,888 shares of the company’s stock, valued at approximately $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,909 shares of company stock worth $5,735,337 in the last three months. Insiders own 55.75% of the company’s stock.

Institutional Trading of Paymentus

Several hedge funds have recently bought and sold shares of PAY. North Reef Capital Management LP acquired a new stake in Paymentus in the 1st quarter valued at approximately $18,658,000. William Blair Investment Management LLC acquired a new position in Paymentus during the 4th quarter worth approximately $16,127,000. Capital International Investors boosted its position in Paymentus by 6.6% during the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock worth $241,835,000 after acquiring an additional 474,780 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in shares of Paymentus by 70.6% during the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock worth $18,630,000 after acquiring an additional 303,554 shares in the last quarter. Finally, Castleark Management LLC bought a new position in shares of Paymentus during the 1st quarter worth approximately $6,878,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.