Paymentus (NYSE:PAY) Trading 5.6% Higher

Shares of Paymentus Holdings, Inc. (NYSE:PAY) rose 5.6% on Tuesday . The stock traded as high as $21.16 and last traded at $21.15. Approximately 117,379 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 240,067 shares. The stock had previously closed at $20.02.

Analyst Upgrades and Downgrades

PAY has been the topic of a number of recent research reports. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. 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 report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, The Goldman Sachs Group raised their price objective on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. Seven 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.19.

Paymentus Stock Up 3.8 %

The company has a 50 day moving average of $21.42 and a 200 day moving average of $20.49. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 90.79 and a beta of 1.47.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $180.57 million. During the same period in the prior year, the firm posted $0.06 EPS. The company’s revenue was up 32.6% on a year-over-year basis. On average, research analysts forecast that Paymentus Holdings, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in Paymentus during the 1st quarter worth approximately $1,053,000. ClariVest Asset Management LLC increased its position in shares of Paymentus by 128,017.4% in the first quarter. ClariVest Asset Management LLC now owns 58,934 shares of the business services provider’s stock worth $1,341,000 after acquiring an additional 58,888 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Paymentus in the 4th quarter valued at $537,000. CenterBook Partners LP acquired a new position in shares of Paymentus during the 4th quarter valued at $1,465,000. Finally, Trexquant Investment LP purchased a new stake in Paymentus during the 4th quarter worth $254,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Company Profile

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.