Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.6667.

Several brokerages recently issued reports on PAY. The Goldman Sachs Group upped their price objective on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wolfe Research reissued an “outperform” rating and issued a $44.00 target price on shares of Paymentus in a research note on Tuesday, August 4th. Robert W. Baird boosted their target price on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings lowered Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, Wedbush increased their price target on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 2,909 shares of Paymentus stock in a transaction on 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 $20,350,279.25. The trade was a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were 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 directly owned 509,888 shares of the company’s stock, valued at $20,798,331.52. This represents a 13.56% decrease in their position. 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. Corporate insiders own 55.75% of the company’s stock.

Institutional Trading of Paymentus

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Paymentus by 26.8% in the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock valued at $4,780,000 after acquiring an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares during the period. Millennium Management LLC increased its stake in Paymentus by 4.2% during the first quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Paymentus by 275.8% during the first quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Paymentus by 34.7% in the second quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 6,616 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

Shares of PAY opened at $39.88 on Monday. Paymentus has a one year low of $20.11 and a one year high of $45.31. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 60.43 and a beta of 1.29. The stock has a 50 day moving average price of $30.87 and a 200 day moving average price of $26.99.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (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 analysts’ expectations of $345.44 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts predict that Paymentus will post 0.77 earnings per share for the current year.

About Paymentus

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.