Paymentus (NYSE:PAY) Stock Price Down 5.1% – Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY)’s share price fell 5.1% during mid-day trading on Monday . The company traded as low as $25.27 and last traded at $25.28. 133,524 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 241,607 shares. The stock had previously closed at $26.64.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAY. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird lifted their price target on shares of Paymentus from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Finally, The Goldman Sachs Group raised their price target on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.31.

Paymentus Stock Performance

The company has a market cap of $3.04 billion, a P/E ratio of 99.76 and a beta of 1.46. The stock has a 50-day moving average of $22.11 and a two-hundred day moving average of $20.51.

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

Institutional Investors Weigh In On Paymentus

Several large investors have recently bought and sold shares of the business. nVerses Capital LLC grew its stake in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares during the period. SG Americas Securities LLC bought a new stake in shares of Paymentus during the 3rd quarter valued at about $132,000. Cubist Systematic Strategies LLC grew its stake in shares of Paymentus by 8.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after purchasing an additional 10,729 shares during the period. Algert Global LLC lifted its position in shares of Paymentus by 3.2% during the 2nd quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after buying an additional 4,216 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Paymentus by 1.1% during 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 in the last quarter. 12.55% of the stock is currently owned by institutional investors.

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.