Paymentus (NYSE:PAY) Stock Price Crosses Above 200 Day Moving Average of $20.08

Paymentus Holdings, Inc. (NYSE:PAY)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.08 and traded as high as $21.63. Paymentus shares last traded at $21.23, with a volume of 76,105 shares.

Analysts Set New Price Targets

A number of analysts have commented on the company. Baird R W raised Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Canaccord Genuity Group upgraded Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Robert W. Baird raised their price target on Paymentus from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Paymentus has an average rating of “Moderate Buy” and an average price target of $20.19.

Paymentus Stock Down 5.2 %

The stock’s 50 day moving average price is $20.89 and its 200-day moving average price is $20.11. The stock has a market capitalization of $2.51 billion, a PE ratio of 87.53 and a beta of 1.47.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $197.42 million for the quarter, compared to analysts’ expectations of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The business’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. On average, analysts forecast that Paymentus Holdings, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Andrew A. Gerber sold 5,576 shares of the firm’s stock in a transaction 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 $2,573,703.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 87.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently added to or reduced their stakes in PAY. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 4,629 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Paymentus in the fourth quarter valued at $472,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Paymentus in the fourth quarter valued at $45,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Paymentus in the fourth quarter valued at $283,000. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Paymentus by 53,916.7% in 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 purchasing an additional 194,100 shares in the last quarter. Hedge funds and other 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.