Paymentus (NYSE:PAY) Stock Price Up 12.2% - Time to Buy?

Key Points

• Paymentus Holdings, Inc. (NYSE:PAY) experienced a significant stock increase of 12.2%, closing at $32.90 on a high trading volume of over 1 million shares.
• Multiple analysts have increased their price targets for Paymentus, with estimates now ranging from $34.00 to $36.80 and a consensus rating of "Moderate Buy."
• Institutional investors have been actively acquiring shares, with Driehaus Capital Management expanding its position by 152.3% in the most recent quarter.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s share price rose 12.2% during mid-day trading on Tuesday . The company traded as high as $32.86 and last traded at $32.90. Approximately 1,063,631 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 547,733 shares. The stock had previously closed at $29.33.

Wall Street Analyst Weigh In

Several research firms have recently commented on PAY. Robert W. Baird lifted their price target on shares of Paymentus from $36.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Paymentus from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. The Goldman Sachs Group lifted their price target on shares of Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Wolfe Research raised shares of Paymentus from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Paymentus Trading Up 0.8%

The company's fifty day moving average is $32.00 and its 200-day moving average is $31.24. The firm has a market capitalization of $4.25 billion, a P/E ratio of 79.05 and a beta of 1.54.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. The business had revenue of $280.08 million during the quarter, compared to the consensus estimate of $262.78 million. During the same period in the prior year, the firm earned $0.12 EPS. Paymentus's quarterly revenue was up 41.9% compared to the same quarter last year. On average, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, Director William Ingram sold 11,409 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $38.01, for a total transaction of $433,656.09. Following the completion of the sale, the director owned 73,963 shares in the company, valued at $2,811,333.63. This trade represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 75.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC bought a new position in Paymentus during the 4th quarter worth approximately $32,000. AlphaQuest LLC boosted its stake in Paymentus by 152,600.0% during the 1st quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider's stock worth $40,000 after acquiring an additional 1,526 shares during the last quarter. Summit Securities Group LLC bought a new position in Paymentus during the 1st quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Paymentus by 2,763.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider's stock worth $54,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Paymentus during the 4th quarter worth approximately $73,000. Institutional investors own 78.38% 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.