Paymentus (NYSE:PAY) Stock Price Crosses Above Two Hundred Day Moving Average of $17.62

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.62 and traded as high as $19.64. Paymentus shares last traded at $19.34, with a volume of 166,694 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on PAY shares. Wells Fargo & Company started coverage on shares of Paymentus in a report on Wednesday, January 17th. They set an "equal weight" rating and a $17.00 price target for the company. TheStreet downgraded shares of Paymentus from a "c-" rating to a "d+" rating in a report on Thursday, February 15th. Robert W. Baird lifted their price target on shares of Paymentus from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Raymond James downgraded shares of Paymentus from an "outperform" rating to a "market perform" rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paymentus from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.81.

Paymentus Stock Performance

The firm's 50-day moving average price is $19.79 and its 200 day moving average price is $17.65. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 112.06 and a beta of 1.51.

Paymentus (NYSE:PAY - Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The company had revenue of $164.80 million during the quarter, compared to analysts' expectations of $157.38 million. During the same quarter in the previous year, the company earned $0.02 EPS. Paymentus's revenue was up 24.7% on a year-over-year basis. As a group, equities research analysts predict that Paymentus Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PAY. Barclays PLC acquired a new position in Paymentus during the second quarter valued at approximately $32,000. Bank of New York Mellon Corp grew its holdings in Paymentus by 88.4% during the third quarter. Bank of New York Mellon Corp now owns 37,493 shares of the business services provider's stock valued at $622,000 after purchasing an additional 17,592 shares during the period. Swiss National Bank grew its holdings in Paymentus by 3.9% during the third quarter. Swiss National Bank now owns 37,500 shares of the business services provider's stock valued at $622,000 after purchasing an additional 1,400 shares during the period. Deutsche Bank AG acquired a new position in Paymentus during the third quarter valued at approximately $11,806,000. Finally, Lord Abbett & CO. LLC acquired a new position in Paymentus during the third quarter valued at approximately $8,026,000. Institutional investors and hedge funds 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.