Paymentus (NYSE:PAY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Robert W. Baird lifted their price objective on shares of Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.67.

Paymentus Trading Up 0.1%

PAY opened at $36.43 on Friday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 55.19 and a beta of 1.31. Paymentus has a 12 month low of $20.11 and a 12 month high of $45.31. The stock has a fifty day moving average price of $35.05 and a 200-day moving average price of $28.28.

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. The company 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 firm’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. On average, equities research analysts forecast that Paymentus will post 0.76 EPS for the current year.

Insider Transactions at Paymentus

In other news, CFO Sanjay Kalra sold 2,909 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total transaction of $117,087.25. Following the sale, the chief financial officer owned 505,597 shares in the company, valued at approximately $20,350,279.25. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 509,888 shares in the company, valued at approximately $20,798,331.52. This trade represents a 13.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 147,909 shares of company stock valued at $5,735,337. 55.75% of the stock is currently owned by company insiders.

Institutional Trading of Paymentus

Several large investors have recently bought and sold shares of the stock. KBC Group NV purchased a new position in shares of Paymentus in the first quarter worth $41,000. Los Angeles Capital Management LLC acquired a new stake in shares of Paymentus during the fourth quarter worth $80,000. Orange County Employees Retirement System purchased a new stake in shares of Paymentus during the fourth quarter valued at $150,000. Advisors Asset Management Inc. grew its holdings in shares of Paymentus by 26.0% during the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after buying an additional 1,042 shares during the last quarter. Finally, Vident Advisory LLC acquired a new position in shares of Paymentus in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

About Paymentus

Paymentus Holdings, Inc (NYSE: PAY) provides cloud-based electronic bill presentment and payment technology. Its platform enables organizations to issue bills and invoices, accept digital payments, and manage payment-related communications through web, mobile, text, interactive voice response, and other channels.

The company serves billers across industries including utilities, government, financial services, telecommunications, insurance, and other recurring-payment businesses. Its offerings are designed to support payment processing, billing and account management, customer engagement, automated notifications, and related back-office workflows through a unified software platform.

Paymentus was founded in 2004 and primarily serves organizations in the United States and Canada.