Paymentus (NYSE:PAY) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Paymentus shares rose above their 200-day moving average on Monday, trading as high as $29.29 and last changing hands at $28.88, up about 2.3% on the session.
• Analysts remain largely positive on the stock: Wedbush and Robert W. Baird both raised price targets and kept outperform ratings, with the consensus target now at $35.20 and an overall rating of Moderate Buy.
• The company’s latest quarterly results beat expectations, with EPS of $0.21 and revenue of $358.44 million, while revenue jumped 30.2% year over year; institutional ownership also remains high at 78.38%.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.79 and traded as high as $29.29. Paymentus shares last traded at $28.88, with a volume of 812,824 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on PAY. Wedbush increased their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Paymentus from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Finally, Robert W. Baird boosted their price objective on shares of Paymentus from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.20.

Paymentus Stock Up 2.3%

The firm has a market cap of $3.63 billion, a PE ratio of 50.67 and a beta of 1.31. The stock has a 50 day moving average price of $23.94 and a two-hundred day moving average price of $25.79.

Paymentus (NYSE:PAY - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. Paymentus's revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. As a group, equities analysts anticipate that Paymentus Holdings, Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its holdings in shares of Paymentus by 82.2% during the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider's stock valued at $270,194,000 after buying an additional 3,859,056 shares during the last quarter. Capital International Investors increased its position in shares of Paymentus by 6.6% in the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider's stock valued at $241,835,000 after acquiring an additional 474,780 shares during the period. Vanguard Group Inc. raised its stake in Paymentus by 20.7% in the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider's stock worth $138,740,000 after acquiring an additional 753,281 shares during the last quarter. Invesco Ltd. lifted its position in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider's stock worth $115,916,000 after acquiring an additional 2,032,819 shares during the period. Finally, Capital World Investors lifted its position in Paymentus by 4.4% during the 4th quarter. Capital World Investors now owns 2,499,583 shares of the business services provider's stock worth $78,962,000 after acquiring an additional 105,970 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.

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