Seaport Research Partners upgraded shares of Paymentus (NYSE:PAY – Free Report) to a strong-buy rating in a research report report published on Thursday,Zacks reports.
Several other analysts have also issued reports on PAY. Freedom Broker upgraded shares of Paymentus to a “strong-buy” rating in a research report on Tuesday. Wall Street Zen raised Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. The Goldman Sachs Group boosted their target price on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Finally, Wolfe Research lowered Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.
Read Our Latest Report on Paymentus
Paymentus Price Performance
Paymentus (NYSE:PAY – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts expect that Paymentus will post 0.75 earnings per share for the current fiscal 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 transaction, the chief financial officer directly owned 508,506 shares of the company’s stock, valued at approximately $20,955,532.26. The trade was a 4.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Trainor sold 80,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $20,798,331.52. This trade represents a 13.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 147,909 shares of company stock worth $5,735,337. Insiders own 55.75% of the company’s stock.
Hedge Funds Weigh In On Paymentus
A number of institutional investors have recently bought and sold shares of PAY. KBC Group NV purchased a new stake in Paymentus in the first quarter worth $41,000. Orange County Employees Retirement System bought a new stake in shares of Paymentus during the 4th quarter valued at $150,000. OP Asset Management Ltd bought a new stake in shares of Paymentus during the 1st quarter valued at $215,000. The Manufacturers Life Insurance Company grew its position in shares of Paymentus by 7.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock worth $253,000 after buying an additional 665 shares during the period. Finally, 9823 Capital L.P. purchased a new stake in shares of Paymentus in the 4th quarter worth about $255,000. 78.38% of the stock is owned by institutional investors.
Paymentus Company Profile
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.
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