Paymentus (NYSE:PAY) Downgraded by StockNews.com

StockNews.com cut shares of Paymentus (NYSE:PAY) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group lifted their target price on Paymentus from $20.00 to $22.50 and gave the stock a neutral rating in a report on Monday, April 15th. Wells Fargo & Company boosted their price objective on shares of Paymentus from $19.00 to $21.00 and gave the company an equal weight rating in a research report on Tuesday, May 7th. Canaccord Genuity Group raised shares of Paymentus to a strong-buy rating in a research note on Monday, July 8th. Robert W. Baird raised shares of Paymentus from a neutral rating to an outperform rating and set a $23.00 price target for the company in a research note on Wednesday, July 10th. Finally, Citigroup increased their price objective on shares of Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $19.06.

Paymentus Trading Up 4.9 %

Shares of Paymentus stock opened at $21.30 on Friday. The firm has a market cap of $2.64 billion, a PE ratio of 92.61 and a beta of 1.46. Paymentus has a 12 month low of $10.45 and a 12 month high of $25.21. The stock has a 50 day moving average of $19.23 and a 200 day moving average of $19.01.

Paymentus (NYSE:PAY) last announced its earnings results on Monday, May 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. The firm had revenue of $184.88 million for the quarter, compared to analysts’ expectations of $174.75 million. As a group, equities research analysts forecast that Paymentus will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Paymentus

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PAY. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paymentus during the fourth quarter valued at approximately $45,000. Russell Investments Group Ltd. bought a new stake in Paymentus during the 1st quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Paymentus by 2,948.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 4,629 shares during the period. RiverPark Advisors LLC bought a new position in shares of Paymentus in the 1st quarter worth $136,000. Finally, Trexquant Investment LP purchased a new stake in shares of Paymentus during the 4th quarter worth $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.