Paymentus (NYSE:PAY) Shares Down 4.7% – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $37.85 and last traded at $38.0550. Approximately 88,444 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 870,495 shares. The stock had previously closed at $39.94.

Analysts Set New Price Targets

A number of research firms have issued reports on PAY. Wedbush boosted their price target on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Robert W. Baird raised their target price on Paymentus from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wolfe Research downgraded Paymentus from an “outperform” rating to a “peer perform” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Paymentus from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Paymentus presently has a consensus rating of “Hold” and an average target price of $38.67.

Paymentus Price Performance

The company has a fifty day moving average price of $31.97 and a 200 day moving average price of $27.30. The company has a market capitalization of $4.97 billion, a P/E ratio of 59.83 and a beta of 1.29.

Paymentus (NYSE:PAY) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The business had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. During the same quarter last year, the business posted $0.11 EPS. The business’s revenue was up 28.8% on a year-over-year basis. On average, equities research analysts predict that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sanjay Kalra sold 2,909 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the completion of the transaction, the chief financial officer owned 505,597 shares in the company, valued at approximately $20,350,279.25. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Trainor sold 80,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the completion of the sale, the director directly owned 509,888 shares in the company, valued at approximately $20,798,331.52. This trade represents a 13.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 147,909 shares of company stock worth $5,735,337 over the last quarter. 55.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV acquired a new stake in shares of Paymentus in the first quarter valued at approximately $41,000. Los Angeles Capital Management LLC acquired a new position in shares of Paymentus during the fourth quarter worth approximately $80,000. Orange County Employees Retirement System acquired a new position in shares of Paymentus during the fourth quarter worth approximately $150,000. Advisors Asset Management Inc. grew its holdings in Paymentus by 26.0% in the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after buying an additional 1,042 shares in the last quarter. Finally, Vident Advisory LLC bought a new position in Paymentus in the 2nd quarter worth approximately $204,000. 78.38% of the stock is owned by institutional investors and hedge funds.

About Paymentus

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.