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

Paymentus (NYSE:PAY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on the company. Yorkville Ives initiated coverage on Paymentus in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $40.00 target price for the company. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Seaport Research Partners started coverage on shares of Paymentus in a research report on Thursday, September 17th. They issued a “buy” rating and a $42.00 price target for the company. Robert W. Baird raised their price target on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group upped their price target 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. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.86.

Paymentus Stock Up 0.0%

Shares of NYSE PAY opened at $33.36 on Friday. Paymentus has a 12 month low of $20.11 and a 12 month high of $45.31. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 50.55 and a beta of 1.34. The business has a fifty day simple moving average of $34.38 and a 200-day simple moving average of $29.85.

Paymentus (NYSE:PAY) last released its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $360.74 million during 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%. Paymentus’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. As a group, sell-side analysts expect that Paymentus will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling at Paymentus

In other Paymentus news, CFO Sanjay Kalra sold 25,000 shares of the company’s stock in a transaction dated 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 directly owned 508,506 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Trainor sold 80,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 509,888 shares in the company, valued at approximately $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 147,909 shares of company stock worth $5,735,337 in the last quarter. Insiders own 55.75% of the company’s stock.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its position in shares of Paymentus by 50.8% in the third quarter. Signaturefd LLC now owns 1,624 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 547 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Paymentus by 71.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,435 shares of the business services provider’s stock worth $44,000 after acquiring an additional 600 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Paymentus in the third quarter worth $721,000. State of Alaska Department of Revenue bought a new position in Paymentus during the third quarter worth $63,000. Finally, Seelaus Asset Management LLC bought a new position in Paymentus during the third quarter worth $272,000. 78.38% of the stock is currently owned by institutional investors.

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.