Paymentus (NYSE:PAY) Stock Price Down 5.1% – Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY) was down 5.1% on Monday . The stock traded as low as $25.27 and last traded at $25.28. Approximately 133,524 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 241,607 shares. The stock had previously closed at $26.64.

Analyst Ratings Changes

Several equities research analysts have weighed in on PAY shares. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a report on Monday, July 8th. The Goldman Sachs Group raised their price objective on shares of Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a report on Friday, August 9th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird lifted their price objective on shares of Paymentus from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Paymentus currently has an average rating of “Moderate Buy” and an average price target of $20.31.

Paymentus Stock Performance

The stock’s fifty day simple moving average is $22.11 and its two-hundred day simple moving average is $20.51. The stock has a market capitalization of $3.04 billion, a P/E ratio of 99.76 and a beta of 1.46.

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

Institutional Trading of Paymentus

Several institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC raised its holdings in shares of Paymentus by 80.1% in the second quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC grew its position in Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,100 shares during the period. Essex Investment Management Co. LLC grew its position in Paymentus by 0.6% during the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock valued at $4,699,000 after buying an additional 1,141 shares during the period. Arcadia Investment Management Corp MI grew its position in Paymentus by 141.1% during the second 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 during the period. Finally, Millennium Management LLC grew its position in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after buying an additional 3,124 shares during the period. 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.