Paymentus (NYSE:PAY) Shares Break Above 200-Day Moving Average – Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $29.05 and traded as high as $31.29. Paymentus shares last traded at $30.7560, with a volume of 1,115,759 shares traded.

Wall Street Analyst Weigh In

PAY has been the subject of a number of analyst reports. Wolfe Research downgraded Paymentus from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. Weiss Ratings raised Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group increased 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. Freedom Broker raised shares of Paymentus to a “strong-buy” rating in a research report on Tuesday, September 15th. Finally, Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Paymentus has an average rating of “Moderate Buy” and an average price target of $38.67.

Paymentus Stock Performance

The company has a market cap of $3.88 billion, a P/E ratio of 46.71 and a beta of 1.34. The business has a fifty day simple moving average of $36.22 and a 200 day simple moving average of $29.06.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The business’s revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. Equities research analysts expect that Paymentus Holdings, Inc. will post 0.75 EPS for the current year.

Insider Activity

In other Paymentus news, CFO Sanjay Kalra sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.21, for a total value of $1,030,250.00. Following the transaction, the chief financial officer owned 508,506 shares of the company’s stock, valued at $20,955,532.26. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Trainor sold 80,000 shares of Paymentus stock in a transaction that occurred 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 of the company’s stock, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,909 shares of company stock valued at $5,735,337 over the last ninety days. Company insiders own 55.75% of the company’s stock.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors increased its holdings in shares of Paymentus by 6.6% in the 4th 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 during the period. Capital World Investors lifted its position in Paymentus by 4.4% in the 4th 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 during the last quarter. Next Century Growth Investors LLC boosted its stake in Paymentus by 1.3% during the 4th 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 during the period. Dimensional Fund Advisors LP grew 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 bought a new position in Paymentus in the 1st quarter worth about $18,658,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Paymentus

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based bill payment and electronic bill presentment technology. Its platform enables organizations to accept and process payments through digital and traditional channels, while helping customers manage billing, communications and payment-related interactions.

The company serves billers across industries including utilities, municipalities and other government entities, financial institutions, telecommunications providers, insurance companies, health-care organizations and education providers.