Paymentus (NYSE:PAY) Sets New 52-Week High – Here’s Why

Paymentus Holdings, Inc. (NYSE:PAY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.37 and last traded at $25.32, with a volume of 459939 shares traded. The stock had previously closed at $23.53.

Analyst Ratings Changes

A number of equities research analysts have commented on PAY shares. The Goldman Sachs Group upped their price target on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, August 9th. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Robert W. Baird boosted their target price on shares of Paymentus from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday. Finally, StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and a consensus target price of $20.31.

Paymentus Stock Performance

The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 110.83 and a beta of 1.46. The company has a 50 day moving average price of $21.66 and a 200 day moving average price of $20.35.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 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 firm had revenue of $197.42 million during the quarter, compared to the consensus estimate of $180.57 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 32.6% on a year-over-year basis. Research analysts forecast that Paymentus Holdings, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Paymentus

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake 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 worth $31,596,000 after purchasing an additional 8,457 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Millennium Management LLC raised its position in Paymentus by 1.1% in the 2nd quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after buying an additional 3,124 shares during the last quarter. Essex Investment Management Co. LLC lifted 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 valued at $4,699,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock worth $2,608,000 after acquiring an additional 10,729 shares during the last quarter. Institutional investors own 12.55% of the company’s stock.

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.