Paymentus (NYSE:PAY) Trading Up 7% – Time to Buy?

Paymentus Holdings, Inc. (NYSE:PAYGet Free Report) shares shot up 7% during mid-day trading on Friday . The company traded as high as $22.63 and last traded at $22.62. 77,679 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 236,817 shares. The stock had previously closed at $21.15.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PAY shares. The Goldman Sachs Group upped their price objective on shares of Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, August 9th. Robert W. Baird lifted their price target on shares of Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Baird R W upgraded Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Check Out Our Latest Stock Analysis on Paymentus

Paymentus Stock Performance

The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 90.48 and a beta of 1.46. The company has a 50 day moving average of $21.40 and a 200-day moving average of $20.39.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC grew its holdings in Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after acquiring an additional 650 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after purchasing an additional 1,381 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Paymentus during the first quarter worth $106,000. SG Americas Securities LLC purchased a new position in Paymentus in the third quarter valued at $132,000. Finally, RiverPark Advisors LLC acquired a new stake in Paymentus in the first quarter valued at $136,000. 12.55% of the stock is owned by institutional investors and hedge funds.

About Paymentus

(Get Free Report)

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.

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