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

Key Points

• Paymentus shares rose above their 200-day moving average of $27.60, reaching $35.93 and last trading at $34.99, with a market capitalization of approximately $4.41 billion.
• The company exceeded quarterly expectations, reporting $0.25 in EPS versus the $0.19 consensus and $360.74 million in revenue versus $345.44 million expected. Revenue increased 28.8% year over year.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and an average price target of $38.67. Insiders sold 147,909 shares worth $5.7 million over the past 90 days, while institutional investors own 78.38% of the stock.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.60 and traded as high as $35.93. Paymentus shares last traded at $34.99, with a volume of 1,136,216 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wedbush upped their price target on 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 report on Wednesday, August 19th. Wolfe Research lowered shares of Paymentus from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 25th. Robert W. Baird increased their target price on shares of Paymentus from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group increased their target price on shares of Paymentus from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $38.67.

Paymentus Stock Performance

The business has a fifty day moving average of $33.16 and a 200-day moving average of $27.60. The firm has a market capitalization of $4.41 billion, a P/E ratio of 53.02 and a beta of 1.31.

Paymentus (NYSE:PAY - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.06. The company had revenue of $360.74 million during the quarter, compared to analyst estimates of $345.44 million. Paymentus had a return on equity of 15.26% and a net margin of 6.24%.The firm's quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities research analysts forecast that Paymentus Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Activity

In other Paymentus news, Director Gary Trainor sold 80,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total transaction of $3,263,200.00. Following the transaction, the director owned 509,888 shares of the company's stock, valued at approximately $20,798,331.52. This trade represents a 13.56% decrease in their position. 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 firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.25, for a total transaction of $117,087.25. Following the transaction, the chief financial officer directly owned 505,597 shares in the company, valued at approximately $20,350,279.25. The trade was a 0.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 147,909 shares of company stock valued at $5,735,337 in the last ninety days. Corporate insiders own 55.75% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PAY. Royal Bank of Canada raised its holdings in Paymentus by 26.8% during the first quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider's stock worth $4,780,000 after purchasing an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Paymentus by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider's stock worth $425,000 after purchasing an additional 683 shares during the period. Millennium Management LLC boosted its stake in Paymentus by 4.2% during the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider's stock valued at $6,365,000 after purchasing an additional 9,890 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Paymentus by 275.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider's stock valued at $14,927,000 after purchasing an additional 419,736 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Paymentus by 34.7% during the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider's stock valued at $841,000 after purchasing an additional 6,616 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Paymentus Company Profile

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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