Paymentus (NYSE:PAY) Upgraded by Seaport Research Partners to Strong-Buy Rating

Paymentus (NYSE:PAY) was upgraded by Seaport Research Partners to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.

Several other research firms have also commented on PAY. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, September 13th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group raised their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Paymentus Trading Down 1.3%

Shares of Paymentus stock opened at $36.16 on Thursday. Paymentus has a 52 week low of $20.11 and a 52 week high of $45.31. The stock has a market cap of $4.55 billion, a PE ratio of 54.79 and a beta of 1.31. The company’s 50-day moving average price is $35.71 and its two-hundred day moving average price is $28.62.

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, beating the consensus estimate of $0.19 by $0.06. The company had revenue of $360.74 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.11 EPS. On average, equities analysts predict that Paymentus will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Paymentus news, CFO Sanjay Kalra sold 2,909 shares of Paymentus stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the completion of the sale, the chief financial officer owned 505,597 shares of the company’s stock, valued at $20,350,279.25. This trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $3,263,200.00. Following the sale, the director directly owned 509,888 shares of the company’s stock, valued at $20,798,331.52. This trade represents a 13.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,909 shares of company stock valued at $5,735,337 over the last three months. 55.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently modified their holdings of the stock. Capital International Investors raised its holdings in shares of Paymentus by 6.6% during the fourth 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 in the last quarter. Capital World Investors grew its stake in Paymentus by 4.4% in the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock valued at $78,962,000 after purchasing an additional 105,970 shares in the last quarter. Next Century Growth Investors LLC grew its stake in Paymentus by 1.3% in the fourth quarter. Next Century Growth Investors LLC now owns 1,181,624 shares of the business services provider’s stock valued at $37,328,000 after purchasing an additional 14,786 shares in the last quarter. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 248,514 shares during the last quarter. Finally, North Reef Capital Management LP acquired a new position in Paymentus in the 1st quarter worth about $18,658,000. 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.