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

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $38.67.

A number of research firms have recently issued reports 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 raised Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Robert W. Baird increased 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. Finally, Seaport Research Partners initiated coverage on Paymentus in a research report on Thursday, September 17th. They issued a “buy” rating and a $42.00 target price for the company.

Insider Activity at Paymentus

In other news, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 directly owned 509,888 shares of the company’s stock, valued at approximately $20,798,331.52. This 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 can be accessed through the SEC website. Also, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.21, for a total value of $1,030,250.00. Following the sale, the chief financial officer owned 508,506 shares in the company, valued at $20,955,532.26. The trade was a 4.69% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 55.75% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Large investors have recently added to or reduced their stakes in the stock. North Reef Capital Management LP bought a new position in Paymentus in the 1st quarter worth approximately $18,658,000. William Blair Investment Management LLC acquired a new stake in Paymentus in the 4th quarter valued at approximately $16,127,000. Capital International Investors raised its stake in Paymentus by 6.6% during the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after acquiring an additional 474,780 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its stake in Paymentus by 70.6% during the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock valued at $18,630,000 after acquiring an additional 303,554 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Paymentus during the 1st quarter worth $6,878,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Performance

Shares of PAY opened at $30.96 on Friday. The stock has a fifty day moving average of $36.08 and a two-hundred day moving average of $28.87. The company has a market capitalization of $3.90 billion, a PE ratio of 46.91 and a beta of 1.31. Paymentus has a fifty-two week low of $20.11 and a fifty-two week high of $45.31.

Paymentus (NYSE:PAY) last released 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. The business 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 company’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. As a group, equities research analysts forecast that Paymentus will post 0.75 earnings per share for the current fiscal year.

Paymentus Company Profile

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.