Paymentus (NYSE:PAY) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• Paymentus shares rose above their 200-day moving average, reaching $31.29 and last trading near $30.76, while the stock’s 50-day moving average stood higher at $36.18.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $38.67, although several firms have retained neutral or hold ratings.
• The company exceeded quarterly expectations, reporting $0.25 in EPS versus $0.19 expected and 28.8% year-over-year revenue growth; however, insiders sold about 147,909 shares worth $5.7 million over the past 90 days.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $29.05 and traded as high as $31.29. Paymentus shares last traded at $30.7560, with a volume of 1,115,759 shares.

Wall Street Analyst Weigh In

PAY has been the subject of several research reports. Wolfe Research lowered shares of Paymentus from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, August 25th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Paymentus from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. Robert W. Baird increased their target price on shares of Paymentus from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Freedom Broker upgraded shares of Paymentus to a "strong-buy" rating in a research note on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.67.

Paymentus Trading Up 0.4%

The firm has a fifty day moving average of $36.18 and a two-hundred day moving average of $29.05. The company has a market cap of $3.87 billion, a PE ratio of 46.60 and a beta of 1.34.

Paymentus (NYSE:PAY - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $360.74 million for the quarter, compared to the consensus estimate of $345.44 million. Paymentus had a net margin of 6.24% and a return on equity of 15.26%. The company's revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. Sell-side analysts expect that Paymentus Holdings, Inc. will post 0.75 EPS for the current fiscal year.

Insider Activity at Paymentus

In related news, Director Gary Trainor sold 80,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $40.79, for a total value 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 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 accessible through this hyperlink. Also, CFO Sanjay Kalra sold 25,000 shares of Paymentus stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.21, for a total transaction of $1,030,250.00. Following the completion of the transaction, the chief financial officer owned 508,506 shares of the company's stock, valued at $20,955,532.26. This represents a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 147,909 shares of company stock valued at $5,735,337. 55.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted its stake in Paymentus by 6.6% in the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider's stock worth $241,835,000 after purchasing an additional 474,780 shares during the period. Capital World Investors increased its position in shares of Paymentus by 4.4% during the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider's stock valued at $78,962,000 after buying an additional 105,970 shares during the period. Next Century Growth Investors LLC increased its position in shares of Paymentus by 1.3% during the fourth quarter. Next Century Growth Investors LLC now owns 1,181,624 shares of the business services provider's stock valued at $37,328,000 after buying an additional 14,786 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Paymentus by 42.3% in the first quarter. Dimensional Fund Advisors LP now owns 835,799 shares of the business services provider's stock worth $21,227,000 after buying an additional 248,514 shares in the last quarter. Finally, North Reef Capital Management LP purchased a new stake in shares of Paymentus in the first quarter worth about $18,658,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Paymentus

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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