Paymentus (NYSE:PAY) Share Price Crosses Above 200-Day Moving Average of $18.75

Paymentus Holdings, Inc. (NYSE:PAY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.75 and traded as high as $19.25. Paymentus shares last traded at $19.13, with a volume of 197,395 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Paymentus from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Citigroup lifted their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. Wells Fargo & Company lifted their target price on shares of Paymentus from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.06.

Paymentus Stock Performance

The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 83.18 and a beta of 1.46. The business’s 50-day moving average is $19.29 and its 200-day moving average is $18.75.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $184.88 million during the quarter, compared to analysts’ expectations of $174.75 million. Paymentus had a net margin of 4.43% and a return on equity of 8.74%. Equities research analysts expect that Paymentus Holdings, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Paymentus news, General Counsel Andrew A. Gerber sold 5,576 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.85, for a total value of $105,107.60. Following the completion of the sale, the general counsel now owns 136,536 shares in the company, valued at approximately $2,573,703.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew A. Gerber sold 1,575 shares of Paymentus stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.81, for a total value of $29,625.75. Following the completion of the sale, the general counsel now directly owns 142,112 shares in the company, valued at $2,673,126.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew A. Gerber sold 5,576 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $18.85, for a total transaction of $105,107.60. Following the transaction, the general counsel now owns 136,536 shares in the company, valued at $2,573,703.60. The disclosure for this sale can be found here. Insiders own 87.76% of the company’s stock.

Institutional Investors Weigh In On Paymentus

Several institutional investors have recently modified their holdings of the business. Wakefield Asset Management LLLP bought a new position in Paymentus in the fourth quarter valued at approximately $875,000. Quadrature Capital Ltd acquired a new position in shares of Paymentus in the 4th quarter valued at $537,000. Deutsche Bank AG bought a new position in shares of Paymentus in the 3rd quarter worth $11,806,000. CenterBook Partners LP acquired a new stake in shares of Paymentus during the fourth quarter worth $1,465,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares during the period. Institutional investors and hedge funds own 12.55% of the company’s stock.

About Paymentus

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.