Paymentus (NYSE:PAY) Stock Price Down 5.1% – What’s Next?

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price dropped 5.1% during trading on Monday . The stock traded as low as $25.27 and last traded at $25.28. Approximately 133,524 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 241,607 shares. The stock had previously closed at $26.64.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PAY shares. JPMorgan Chase & Co. lifted their price target on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a report on Monday, July 8th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Baird R W upgraded shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and an average price target of $20.31.

Paymentus Stock Down 4.0 %

The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 108.78 and a beta of 1.46. The company’s 50-day simple moving average is $22.02 and its 200-day simple moving average is $20.45.

Paymentus (NYSE:PAY) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $197.42 million during the quarter, compared to the consensus estimate of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. Paymentus’s revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, analysts expect that Paymentus Holdings, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Paymentus

A number of large investors have recently made changes to their positions in PAY. ClariVest Asset Management LLC grew its position in Paymentus by 128,017.4% during the 1st quarter. ClariVest Asset Management LLC now owns 58,934 shares of the business services provider’s stock worth $1,341,000 after purchasing an additional 58,888 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Paymentus during the 1st quarter worth about $1,053,000. Quadrature Capital Ltd grew its stake in Paymentus by 130.1% during the 1st quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider’s stock valued at $1,575,000 after acquiring an additional 39,136 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Paymentus in the 1st quarter valued at about $513,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Paymentus by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider’s stock worth $10,279,000 after purchasing an additional 20,767 shares in the last quarter. 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.