Paymentus (NYSE:PAY) Upgraded by Freedom Broker to “Strong-Buy” Rating

Freedom Broker upgraded shares of Paymentus (NYSE:PAY) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

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

Paymentus Price Performance

PAY opened at $35.86 on Tuesday. The business has a fifty day simple moving average of $35.38 and a 200 day simple moving average of $28.45. Paymentus has a 1 year low of $20.11 and a 1 year high of $45.31. The company has a market capitalization of $4.52 billion, a PE ratio of 54.33 and a beta of 1.31.

Paymentus (NYSE:PAY) last announced its 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. The company had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities analysts anticipate that Paymentus will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Paymentus

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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction on 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 transaction, the director owned 509,888 shares in the company, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 147,909 shares of company stock valued at $5,735,337 over the last 90 days. Corporate insiders own 55.75% of the company’s stock.

Institutional Trading of Paymentus

Large investors have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new position in Paymentus in the second quarter valued at about $367,000. Arizona State Retirement System boosted its stake in shares of Paymentus by 13.5% in the 2nd 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 stake in shares of Paymentus in the 2nd quarter valued at approximately $2,134,000. Wedge Capital Management L L P NC acquired a new stake in shares of Paymentus in the 2nd quarter valued at approximately $2,008,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Paymentus by 88.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 18,300 shares of the business services provider’s stock valued at $442,000 after purchasing an additional 8,600 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

About Paymentus

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.