Paymentus (NYSE:PAY) Trading 6.8% Higher – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s share price was up 6.8% during trading on Tuesday . The company traded as high as $33.51 and last traded at $33.6060. 275,655 shares traded hands during trading, a decline of 66% from the average session volume of 800,332 shares. The stock had previously closed at $31.48.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PAY shares. Wedbush increased their target price on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Robert W. Baird upped their price objective on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.20.

Paymentus Stock Performance

The company’s 50-day simple moving average is $24.63 and its 200-day simple moving average is $25.68. The company has a market capitalization of $4.25 billion, a PE ratio of 59.33 and a beta of 1.31.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Analysts expect that Paymentus Holdings, Inc. will post 0.71 EPS for the current year.

Institutional Trading of Paymentus

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. raised its stake in shares of Paymentus by 0.7% in the 2nd quarter. Raymond James Financial Inc. now owns 55,991 shares of the business services provider’s stock valued at $1,834,000 after purchasing an additional 413 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Paymentus by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after acquiring an additional 665 shares in the last quarter. Hamilton Lane Advisors LLC lifted its stake in Paymentus by 7.8% during the fourth quarter. Hamilton Lane Advisors LLC now owns 9,303 shares of the business services provider’s stock worth $294,000 after purchasing an additional 676 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after purchasing an additional 683 shares during the period. Finally, LVZ Inc. increased its stake in Paymentus by 5.5% during the first quarter. LVZ Inc. now owns 13,760 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 713 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.