Paymentus (NYSE:PAY) Stock Bumped Down to Hold by Wall Street Zen

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

A number of other brokerages have also recently commented on PAY. Wolfe Research cut Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. 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 research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Yorkville Ives assumed coverage on shares of Paymentus in a report on Tuesday, October 6th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.86.

Paymentus Stock Performance

NYSE:PAY opened at $33.36 on Friday. Paymentus has a 52 week low of $20.11 and a 52 week high of $45.31. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 50.55 and a beta of 1.34. The firm’s 50-day simple moving average is $34.38 and its 200 day simple moving average is $29.82.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 earnings per share 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 business had revenue of $360.74 million during the quarter, compared to analysts’ expectations of $345.44 million. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s revenue was up 28.8% on a year-over-year basis. Sell-side analysts anticipate that Paymentus will post 0.78 EPS for the current year.

Insider Transactions at Paymentus

In other news, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 509,888 shares in the company, valued at $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sanjay Kalra sold 2,909 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total value of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares in the company, valued at $20,350,279.25. The trade was 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 over the last ninety days. 55.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Paymentus

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised 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 worth $21,227,000 after acquiring an additional 248,514 shares during the last quarter. North Reef Capital Management LP bought a new position in shares of Paymentus in the first quarter valued at approximately $18,658,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of Paymentus by 70.6% in the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock valued at $18,630,000 after purchasing an additional 303,554 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Paymentus by 155.1% during the first 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 last quarter. Finally, Castleark Management LLC purchased a new position in shares of Paymentus during the first quarter valued at approximately $6,878,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Paymentus

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.