Paymentus (NYSE:PAY) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Paymentus (NYSE:PAY) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other brokerages have also recently weighed in on PAY. Freedom Broker raised shares of Paymentus to a “strong-buy” rating in a research report on Tuesday, September 15th. Weiss Ratings raised shares of Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wolfe Research downgraded shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group boosted their price objective on shares of 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 upped 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, three have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.86.

Paymentus Stock Down 2.7%

Shares of NYSE PAY opened at $32.45 on Friday. The business has a fifty day simple moving average of $34.30 and a two-hundred day simple moving average of $28.77. The firm has a market cap of $4.09 billion, a PE ratio of 49.17 and a beta of 1.34. Paymentus has a twelve month low of $20.11 and a twelve month high of $45.31.

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, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.11 EPS. On average, research analysts expect that Paymentus will post 0.78 earnings per share for the current year.

Insider Activity at Paymentus

In related news, CFO Sanjay Kalra sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the completion of the sale, the chief financial officer owned 508,506 shares of the company’s stock, valued at $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Trainor sold 80,000 shares of the stock in a transaction that occurred 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. The trade was a 13.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 107,909 shares of company stock valued at $4,410,537. 55.75% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the business. North Reef Capital Management LP acquired a new stake in shares of Paymentus in the 1st quarter worth $18,658,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its stake in Paymentus by 70.6% in the first 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 buying an additional 303,554 shares during the last quarter. Castleark Management LLC purchased a new stake in Paymentus in the first quarter valued at about $6,878,000. Dimensional Fund Advisors LP raised its stake in Paymentus by 42.3% in the first quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock valued at $21,227,000 after buying an additional 248,514 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Paymentus by 155.1% in the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock worth $8,890,000 after acquiring an additional 212,778 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.