Paymentus (NYSE:PAY) stock price is moving above its 200-day moving average of $20.08

Paymentus Holdings, Inc. (NYSE:PAY – Get Your Free Report ) broke above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $20.08 and traded as high as $21.63. Paymentus shares last traded at $21.23, with a volume of 76,105 shares traded.

Analysts set new price targets

A number of equities research analysts recently issued reports on the company. Goldman Sachs Group boosted their price target on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. StockNews.com raised shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. Baird RW upgraded shares of Paymentus from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird boosted their price target on Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.19.

Check out our latest analysis on PAY

Paymentus price performance

The firm has a market cap of $2.64 billion, a P/E ratio of 92.31 and a beta of 1.47. The company’s 50-day moving average price is $20.87 and its 200-day moving average price is $20.08.

Paymentus (NYSE:PAY – Get Your Free Report ) last released its earnings results on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The company had revenue of $197.42 million during the quarter, compared to analyst estimates of $180.57 million. In the same quarter last year, the firm earned $0.06 EPS. The company’s revenue increased by 32.6% year-on-year. Analysts estimate that Paymentus Holdings, Inc. will record 0.32 profit per share for the current year.

Transactions within Paymentus

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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Insiders own 87.76% of the company’s shares.

Institutional inputs and outputs

Hedge funds and other institutional investors have recently bought and sold shares of the company. MCF Advisors LLC boosted its stake 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. Essex Investment Management Co. LLC raised its position in shares of Paymentus by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock worth $4,699,000 after purchasing an additional 1,141 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of 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 worth $45,000 after purchasing an additional 1,381 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Paymentus in the 4th quarter valued at about $45,000. Finally, Millennium Management LLC boosted its holdings in shares of Paymentus by 1.1% in the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after purchasing an additional 3,124 shares in the last quarter. 12.55% of shares are owned by institutional investors and hedge funds.

Paymentus company profile

(Get a free report)

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company provides billers with electronic invoice presentation and payment services, communication with enterprise customers and self-service revenue management through a software-as-a-service technology platform.

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