StockNews.com Lowers Paymentus (NYSE:PAY) to Sell

StockNews.com cut shares of Paymentus (NYSE:PAY) from a hold rating to a sell rating in a report issued on Friday morning.

PAY has been the topic of several other research reports. The Goldman Sachs Group increased their price objective on shares of Paymentus from $20.00 to $22.50 and gave the stock a neutral rating in a research note on Monday, April 15th. Canaccord Genuity Group upgraded Paymentus to a strong-buy rating in a research report on Monday, July 8th. Citigroup increased their price target on Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. Robert W. Baird upgraded Paymentus from a neutral rating to an outperform rating and set a $23.00 price target on the stock in a research report on Wednesday, July 10th. Finally, Baird R W upgraded Paymentus from a hold rating to a strong-buy rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.06.

Paymentus Trading Up 0.3 %

PAY stock opened at $21.36 on Friday. Paymentus has a twelve month low of $10.45 and a twelve month high of $25.21. The company has a market capitalization of $2.65 billion, a P/E ratio of 92.87 and a beta of 1.46. The firm has a 50 day simple moving average of $19.29 and a 200-day simple moving average of $19.05.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Paymentus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Paymentus during the 4th quarter worth $45,000. Russell Investments Group Ltd. bought a new stake in shares of Paymentus during the 1st quarter worth $106,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Paymentus by 2,948.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after acquiring an additional 4,629 shares in the last quarter. RiverPark Advisors LLC bought a new stake in shares of Paymentus during the 1st quarter worth $136,000. Finally, Trexquant Investment LP bought a new stake in shares of Paymentus during the 4th quarter worth $254,000. 12.55% of the stock is owned by institutional investors.

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.