Paymentus Holdings, Inc. (NYSE:PAY) Stock Has Average Target Price of $38.67

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $38.67.

Several equities research analysts have recently weighed in on the company. Freedom Broker upgraded Paymentus to a “strong-buy” rating in a research note on Tuesday, September 15th. Weiss Ratings upgraded Paymentus from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Seaport Research Partners started coverage on Paymentus in a research report on Thursday, September 17th. They set a “buy” rating and a $42.00 target price for the company. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Finally, Wolfe Research cut Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th.

Insider Buying and Selling at Paymentus

In other news, Director Gary Trainor sold 80,000 shares of the business’s stock in a transaction 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 sale, the director owned 509,888 shares in the company, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Kalra sold 25,000 shares of the business’s stock in a transaction 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 in the company, valued at $20,955,532.26. This represents a 4.69% decrease in their position. 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 quarter. Corporate insiders own 55.75% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently made changes to their positions in the company. North Reef Capital Management LP acquired a new position in Paymentus in the first quarter valued at about $18,658,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in Paymentus by 70.6% during the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 733,470 shares of the business services provider’s stock worth $18,630,000 after buying an additional 303,554 shares during the last quarter. Castleark Management LLC bought a new stake in Paymentus during the first quarter worth about $6,878,000. Dimensional Fund Advisors LP increased its holdings in shares of Paymentus by 42.3% during the first quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider’s stock worth $21,227,000 after buying an additional 248,514 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Paymentus by 155.1% during 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 buying an additional 212,778 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Stock Up 5.1%

NYSE PAY opened at $32.16 on Tuesday. Paymentus has a twelve month low of $20.11 and a twelve month high of $45.31. The stock has a market cap of $4.05 billion, a P/E ratio of 48.72 and a beta of 1.34. The company’s 50-day simple moving average is $35.30 and its 200 day simple moving average is $29.53.

Paymentus (NYSE:PAY) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $360.74 million during 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 revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. Research analysts anticipate that Paymentus will post 0.75 earnings per share for the current year.

Paymentus Company Profile

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.