Paymentus (NYSE:PAY) Share Price Crosses Above 200-Day Moving Average of $18.75

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.75 and traded as high as $19.25. Paymentus shares last traded at $19.13, with a volume of 197,395 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. lifted their price target on Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Robert W. Baird increased their price objective on Paymentus from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company lifted their target price on shares of Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.06.

Paymentus Stock Up 0.7 %

The company has a market capitalization of $2.38 billion, a PE ratio of 83.18 and a beta of 1.46. The firm has a 50-day moving average of $19.29 and a two-hundred day moving average of $18.75.

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

Insider Buying and Selling at Paymentus

In other Paymentus news, General Counsel Andrew A. Gerber sold 1,575 shares of Paymentus stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the transaction, the general counsel now directly owns 142,112 shares of the company’s stock, valued at approximately $2,673,126.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Andrew A. Gerber sold 1,575 shares of Paymentus stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the transaction, the general counsel now directly owns 142,112 shares in the company, valued at $2,673,126.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $18.85, for a total value of $105,107.60. Following the transaction, the general counsel now directly owns 136,536 shares of the company’s stock, valued at $2,573,703.60. The disclosure for this sale can be found here. 87.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wakefield Asset Management LLLP purchased a new position in Paymentus during the 4th quarter worth approximately $875,000. Quadrature Capital Ltd purchased a new position in shares of Paymentus during the fourth quarter worth approximately $537,000. Deutsche Bank AG acquired a new position in shares of Paymentus in the 3rd quarter valued at $11,806,000. CenterBook Partners LP purchased a new stake in Paymentus in the 4th quarter valued at $1,465,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paymentus by 2,948.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares during the period. 12.55% of the stock is owned by institutional investors and hedge funds.

About Paymentus

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.