Paymentus (NYSE:PAY) Rating Increased to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Paymentus (NYSE:PAY) to a strong-buy rating in a research report sent to investors on Monday, Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird increased their target price on Paymentus from $22.00 to $23.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. Raymond James downgraded Paymentus from an outperform rating to a market perform rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their target price on Paymentus from $20.00 to $22.50 and gave the stock a neutral rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on Paymentus from $19.00 to $21.00 and gave the stock an equal weight rating in a research report on Tuesday, May 7th. Finally, Citigroup increased their price objective on Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $19.06.

Paymentus Trading Up 3.3 %

Shares of NYSE PAY opened at $19.09 on Monday. The stock has a fifty day simple moving average of $19.10 and a two-hundred day simple moving average of $18.81. Paymentus has a 1-year low of $9.86 and a 1-year high of $25.21. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 83.00 and a beta of 1.46.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, May 6th. The business services provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. The business had revenue of $184.88 million during the quarter, compared to analyst estimates of $174.75 million. Analysts forecast that Paymentus will post 0.29 EPS for the current year.

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 5,576 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.85, for a total transaction of $105,107.60. Following the sale, the general counsel now owns 136,536 shares in the company, valued at $2,573,703.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Paymentus news, General Counsel Andrew A. Gerber sold 5,576 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $18.85, for a total transaction of $105,107.60. Following the sale, the general counsel now owns 136,536 shares in the company, valued at $2,573,703.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew A. Gerber sold 1,575 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $18.81, for a total value of $29,625.75. Following the sale, the general counsel now owns 142,112 shares in the company, valued at approximately $2,673,126.72. The disclosure for this sale can be found here. Company insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

A number of large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paymentus during the fourth quarter valued at about $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after buying an additional 4,629 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Paymentus during the first quarter valued at about $106,000. RiverPark Advisors LLC bought a new position in shares of Paymentus during the first quarter valued at about $136,000. Finally, Trexquant Investment LP bought a new position in shares of Paymentus during the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

About Paymentus

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.