Paymentus (NYSE:PAY) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.79 and traded as high as $29.29. Paymentus shares last traded at $28.88, with a volume of 812,824 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PAY shares. Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Robert W. Baird increased their price target on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Wedbush raised their price target on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Paymentus has an average rating of “Moderate Buy” and a consensus target price of $35.20.

Paymentus Price Performance

The company has a market capitalization of $3.63 billion, a PE ratio of 50.67 and a beta of 1.31. The firm’s fifty day simple moving average is $23.94 and its 200 day simple moving average is $25.79.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company’s revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. On average, equities research analysts anticipate that Paymentus Holdings, Inc. will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. KBC Group NV acquired a new position in Paymentus in the first quarter valued at approximately $41,000. Blue Trust Inc. boosted its position in Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after purchasing an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Paymentus in the 4th quarter worth approximately $80,000. Orange County Employees Retirement System acquired a new stake in shares of Paymentus during the 4th quarter worth approximately $150,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Paymentus by 26.0% during the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,042 shares during the period. 78.38% of the stock is currently owned by hedge funds and other 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.