Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report)’s share price dropped 3% during mid-day trading on Monday . The stock traded as low as $22.90 and last traded at $22.94. Approximately 55,904 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 252,782 shares. The stock had previously closed at $23.64.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price objective on Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Robert W. Baird increased their target price on Paymentus from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.31.
Paymentus Stock Down 3.1 %
The business has a 50-day moving average price of $19.88 and a 200-day moving average price of $19.50. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 102.79 and a beta of 1.47.
Paymentus (NYSE:PAY – Get Free Report) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The company had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts forecast that Paymentus Holdings, Inc. will post 0.29 earnings per share for the current year.
Insider Activity
In other Paymentus news, General Counsel Andrew A. Gerber sold 5,576 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $18.85, for a total transaction of $105,107.60. Following the completion of the transaction, the general counsel now directly owns 136,536 shares of the company’s stock, valued at approximately $2,573,703.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 87.76% of the company’s stock.
Institutional Trading of Paymentus
Several institutional investors have recently bought and sold shares of PAY. Vanguard Group Inc. grew its position in shares of Paymentus by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,388,830 shares of the business services provider’s stock valued at $31,596,000 after purchasing an additional 8,457 shares during the period. Dimensional Fund Advisors LP lifted its stake in Paymentus by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock valued at $10,279,000 after buying an additional 20,767 shares in the last quarter. Millennium Management LLC boosted its holdings in Paymentus by 1.1% in the 2nd quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after buying an additional 3,124 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Paymentus by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after buying an additional 1,141 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Paymentus by 53,916.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock valued at $3,475,000 after acquiring an additional 194,100 shares during the last quarter. 12.55% of the stock is owned by institutional investors and hedge funds.
Paymentus Company Profile
Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.