Paymentus (NYSE:PAY) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.60 and traded as high as $35.93. Paymentus shares last traded at $34.99, with a volume of 1,136,216 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PAY shares. Wolfe Research lowered Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group lifted their target price 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 cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Robert W. Baird upped their price target on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Paymentus currently has an average rating of “Hold” and an average price target of $38.67.

Paymentus Stock Performance

The firm has a fifty day simple moving average of $33.45 and a two-hundred day simple moving average of $27.70. The firm has a market cap of $4.60 billion, a PE ratio of 55.32 and a beta of 1.31.

Paymentus (NYSE:PAY) last issued its quarterly earnings data 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 return on equity of 15.26% and a net margin of 6.24%.The business had revenue of $360.74 million for the quarter, compared to analysts’ expectations of $345.44 million. During the same period in the prior year, the firm earned $0.11 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. Equities analysts forecast that Paymentus Holdings, Inc. will post 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the 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 completion of the transaction, the director owned 509,888 shares in the company, valued at $20,798,331.52. This trade represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief financial officer directly owned 505,597 shares of the company’s stock, 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. In the last ninety days, insiders have sold 147,909 shares of company stock worth $5,735,337. 55.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAY. KBC Group NV purchased a new stake in Paymentus during the first quarter valued at approximately $41,000. Los Angeles Capital Management LLC purchased a new position in shares of Paymentus in the 4th quarter worth approximately $80,000. Orange County Employees Retirement System purchased a new position in shares of Paymentus in the 4th quarter worth approximately $150,000. Advisors Asset Management Inc. increased its position in shares of Paymentus by 26.0% during the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in shares of Paymentus during the 2nd quarter valued at approximately $204,000. Institutional investors own 78.38% of the company’s stock.

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.