Paymentus (NYSE:PAY) Stock Price Down 3%

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price traded down 3% during trading on Tuesday . The stock traded as low as $22.71 and last traded at $23.11. 146,996 shares were traded during trading, a decline of 50% from the average session volume of 292,598 shares. The stock had previously closed at $23.82.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAY. TheStreet downgraded shares of Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their price target on shares of Paymentus from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Raymond James downgraded shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company assumed coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $17.00 target price for the company. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Paymentus Price Performance

The company has a market cap of $2.82 billion, a P/E ratio of 124.94 and a beta of 1.40. The company’s 50-day moving average is $18.06 and its two-hundred day moving average is $16.99.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The business had revenue of $164.80 million during the quarter, compared to the consensus estimate of $157.38 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. Equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG purchased a new position in shares of Paymentus during the 3rd quarter worth $11,806,000. Ridgewood Investments LLC purchased a new position in shares of Paymentus during the 4th quarter valued at $465,000. Vanguard Group Inc. increased its holdings in Paymentus by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock valued at $22,343,000 after acquiring an additional 29,882 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in Paymentus in the 4th quarter valued at $875,000. Finally, Swiss National Bank increased its holdings in Paymentus by 3.9% in the 3rd quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 1,400 shares during the last quarter. 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.