Paymentus Holdings, Inc. (NYSE:PAY) Stock Has Average Target Price of $38.67

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.67.

PAY has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings raised Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Freedom Broker raised Paymentus to a “strong-buy” rating in a report on Tuesday, September 15th. Seaport Research Partners started coverage on shares of Paymentus in a research report on Thursday, September 17th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th.

Insider Buying and Selling at Paymentus

In other news, Director Gary Trainor sold 80,000 shares of Paymentus 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 sale, the director owned 509,888 shares of the company’s stock, valued at $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Kalra sold 2,909 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total transaction of $117,087.25. Following the transaction, the chief financial officer owned 505,597 shares in the company, valued at approximately $20,350,279.25. This trade represents a 0.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 147,909 shares of company stock valued at $5,735,337 in the last 90 days. Company insiders own 55.75% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new position in Paymentus during the 1st quarter worth approximately $18,658,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised 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 buying an additional 303,554 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Paymentus in the 1st quarter valued at approximately $6,878,000. Dimensional Fund Advisors LP lifted its holdings in shares of Paymentus by 42.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock valued at $21,227,000 after buying an additional 248,514 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Paymentus by 155.1% in the 1st quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after buying an additional 212,778 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Stock Down 1.9%

Shares of PAY stock opened at $31.51 on Tuesday. The stock’s 50-day moving average price is $35.16 and its 200 day moving average price is $29.54. The stock has a market capitalization of $3.97 billion, a PE ratio of 47.74 and a beta of 1.34. Paymentus has a 52-week low of $20.11 and a 52-week high of $45.31.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%. The company had revenue of $360.74 million during the quarter, compared to analysts’ expectations of $345.44 million. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. Analysts expect that Paymentus will post 0.75 earnings per share for the current fiscal year.

About Paymentus

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based bill payment and electronic bill presentment technology. Its platform enables organizations to accept and process payments through digital and traditional channels, while helping customers manage billing, communications and payment-related interactions.

The company serves billers across industries including utilities, municipalities and other government entities, financial institutions, telecommunications providers, insurance companies, health-care organizations and education providers.