Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) Price Target at $19.06

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.06.

A number of equities research analysts have recently issued reports on the stock. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Wells Fargo & Company upped their target price on shares of Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Finally, Citigroup upped their target price on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th.

Paymentus Stock Performance

Shares of NYSE PAY opened at $19.51 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of 84.83 and a beta of 1.47. The firm has a fifty day moving average of $19.43 and a 200 day moving average of $19.18. Paymentus has a one year low of $12.98 and a one year high of $25.21.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI lifted its position in Paymentus by 141.1% in the second quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares during the last quarter. MCF Advisors LLC lifted its position in Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after buying an additional 650 shares during the last quarter. Ridgewood Investments LLC increased its stake in Paymentus by 61.5% during the second quarter. Ridgewood Investments LLC now owns 42,000 shares of the business services provider’s stock worth $798,000 after purchasing an additional 16,000 shares during the period. RiverPark Advisors LLC increased its stake in Paymentus by 139.1% during the second quarter. RiverPark Advisors LLC now owns 14,269 shares of the business services provider’s stock worth $271,000 after purchasing an additional 8,302 shares during the period. Finally, Comerica Bank increased its stake in Paymentus by 4,713.1% during the first quarter. Comerica Bank now owns 20,552 shares of the business services provider’s stock worth $468,000 after purchasing an additional 20,125 shares during the period. Institutional investors and hedge funds 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.