Paymentus (NYSE:PAY) Stock Price Crosses Above 200 Day Moving Average of $20.08

Shares of Paymentus Holdings, Inc. (NYSE:PAY) passed 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 trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on PAY. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. 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. Robert W. Baird raised their target price on Paymentus from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.19.

Paymentus Stock Performance

The company has a market capitalization of $2.51 billion, a P/E ratio of 87.53 and a beta of 1.47. The business has a 50 day moving average of $20.89 and a 200-day moving average of $20.11.

Paymentus (NYSE:PAY) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. As a group, equities analysts forecast that Paymentus Holdings, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Paymentus

In other news, General Counsel Andrew A. Gerber sold 5,576 shares of the company’s 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 transaction, the general counsel now directly 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 is available through the SEC website. Company insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of PAY. MCF Advisors LLC lifted its holdings in Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Paymentus during the 4th quarter valued at approximately $45,000. Arcadia Investment Management Corp MI increased its position in Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock valued at $45,000 after buying an additional 1,381 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 valued at $86,000 after buying an additional 4,629 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Paymentus during the 1st quarter valued at approximately $106,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

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.