Paymentus (NYSE:PAY) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Paymentus shares moved above their 200-day moving average, reaching $32.31 and last trading near $31.84, compared with a 200-day average of $29.31.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and a $38.67 price target, though ratings range from “Strong Buy” to “Hold.”
• Paymentus reported stronger-than-expected quarterly results, with EPS of $0.25 versus $0.19 expected and revenue up 28.8% year over year; however, insiders sold $5.7 million of shares over the past three months.

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $29.31 and traded as high as $32.31. Paymentus shares last traded at $31.8360, with a volume of 423,908 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PAY. Wolfe Research downgraded Paymentus from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 25th. Seaport Research Partners initiated coverage on Paymentus in a research note on Thursday, September 17th. They issued a "buy" rating and a $42.00 target price for the company. Freedom Broker raised Paymentus to a "strong-buy" rating in a research note on Tuesday, September 15th. The Goldman Sachs Group increased their price target on Paymentus from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Paymentus from a "hold" rating to a "buy" rating in a research report on Sunday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.67.

Paymentus Stock Down 0.3%

The company's fifty day moving average price is $35.96 and its two-hundred day moving average price is $29.31. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 48.24 and a beta of 1.34.

Paymentus (NYSE:PAY - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to analyst estimates of $345.44 million. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The firm's quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. On average, equities research analysts predict that Paymentus Holdings, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gary Trainor sold 80,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the completion of the transaction, the director directly owned 509,888 shares of the company's stock, valued at $20,798,331.52. This represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Kalra sold 2,909 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.25, for a total value of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares of the company's stock, valued at $20,350,279.25. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,909 shares of company stock worth $5,735,337 in the last three months. Company insiders own 55.75% of the company's stock.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP acquired a new position in Paymentus during the 2nd quarter worth approximately $367,000. Arizona State Retirement System grew its stake in shares of Paymentus by 13.5% during the 2nd quarter. Arizona State Retirement System now owns 15,611 shares of the business services provider's stock worth $377,000 after acquiring an additional 1,861 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of Paymentus in the second quarter valued at approximately $2,134,000. Wedge Capital Management L L P NC acquired a new stake in shares of Paymentus in the second quarter valued at approximately $2,008,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Paymentus by 88.7% in the second quarter. Handelsbanken Fonder AB now owns 18,300 shares of the business services provider's stock valued at $442,000 after purchasing an additional 8,600 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Paymentus Company Profile

Paymentus Holdings, Inc NYSE: PAY provides cloud-based bill payment and electronic bill presentment technology. Its platform enables organizations to accept and process payments through digital and traditional channels, while helping customers manage billing, communications and payment-related interactions.

The company serves billers across industries including utilities, municipalities and other government entities, financial institutions, telecommunications providers, insurance companies, health-care organizations and education providers.

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