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 report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lifted 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. Robert W. Baird raised their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Paymentus presently has an average rating of “Hold” and a consensus price target of $38.67.

Paymentus Stock Performance

NYSE:PAY opened at $36.15 on Friday. Paymentus has a one year low of $20.11 and a one year high of $45.31. The business’s 50-day simple moving average is $34.25 and its 200 day simple moving average is $27.97. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 54.77 and a beta of 1.31.

Paymentus (NYSE:PAY) last issued its quarterly earnings data 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. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The firm had revenue of $360.74 million during the quarter, compared to analyst estimates of $345.44 million. During the same quarter last year, the firm earned $0.11 EPS. Paymentus’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities research analysts predict that Paymentus will post 0.78 EPS for the current year.

Insiders Place Their Bets

In other Paymentus news, 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. The trade was a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Trainor sold 80,000 shares of the firm’s stock in a transaction dated 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 owned 509,888 shares in the company, valued at approximately $20,798,331.52. The trade was a 13.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 147,909 shares of company stock valued at $5,735,337. 55.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares during the last quarter. Invesco Ltd. lifted its stake in Paymentus by 115.8% in the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after buying an additional 2,032,819 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Paymentus during the fourth quarter valued at $60,452,000. California State Teachers Retirement System boosted its holdings in shares of Paymentus by 2,346.9% during the second quarter. California State Teachers Retirement System now owns 1,569,216 shares of the business services provider’s stock valued at $37,912,000 after acquiring an additional 1,505,085 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Paymentus by 148.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after acquiring an additional 943,244 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.