Paymentus (NYSE:PAY) Upgraded to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Paymentus (NYSE:PAY) to a strong-buy rating in a research report report published on Monday, Zacks.com reports.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company lifted their price target on Paymentus from $19.00 to $21.00 and gave the stock an equal weight rating in a research note on Tuesday, May 7th. Raymond James downgraded Paymentus from an outperform rating to a market perform rating in a research note on Thursday, March 14th. The Goldman Sachs Group lifted their price target on Paymentus from $20.00 to $22.50 and gave the stock a neutral rating in a research note on Monday, April 15th. Robert W. Baird lifted their price target on Paymentus from $22.00 to $23.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. Finally, Citigroup lifted their price target on Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research note on Tuesday, May 7th. 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 stock. According to data from MarketBeat.com, Paymentus presently has an average rating of Moderate Buy and a consensus price target of $19.06.

Paymentus Stock Performance

Paymentus stock opened at $19.39 on Monday. Paymentus has a one year low of $9.95 and a one year high of $25.21. The business has a fifty day moving average of $19.06 and a two-hundred day moving average of $18.81. The company has a market cap of $2.41 billion, a P/E ratio of 84.31 and a beta of 1.46.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 6th. The business services provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Paymentus had a return on equity of 8.74% and a net margin of 4.43%. The company had revenue of $184.88 million during the quarter, compared to the consensus estimate of $174.75 million. Sell-side analysts predict that Paymentus will post 0.29 EPS for the current year.

Insider Activity at Paymentus

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

Institutional Trading of Paymentus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Paymentus during the 4th quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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. Russell Investments Group Ltd. purchased a new stake in shares of Paymentus during the 1st quarter worth about $106,000. RiverPark Advisors LLC purchased a new stake in shares of Paymentus during the 1st quarter worth about $136,000. Finally, Trexquant Investment LP purchased a new stake in shares of Paymentus during the 4th quarter worth about $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.