Paymentus (NYSE:PAY) Share Price Crosses Above 200 Day Moving Average of $17.62

Paymentus Holdings, Inc. (NYSE:PAY)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.62 and traded as high as $19.64. Paymentus shares last traded at $19.34, with a volume of 166,694 shares.

Analyst Upgrades and Downgrades

PAY has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 price target on the stock. Raymond James lowered shares of Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. The Goldman Sachs Group increased their price target on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Monday, April 15th. Robert W. Baird increased their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.81.

Paymentus Trading Up 2.2 %

The firm has a market cap of $2.56 billion, a P/E ratio of 114.56 and a beta of 1.52. The business’s fifty day simple moving average is $19.79 and its 200-day simple moving average is $17.65.

Paymentus (NYSE:PAY) last announced its quarterly earnings results on Monday, March 4th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $164.80 million for the quarter, compared to analyst estimates of $157.38 million. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The company’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. Analysts anticipate that Paymentus Holdings, Inc. will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Paymentus

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Paymentus during the 4th quarter valued at about $45,000. Barclays PLC purchased a new position in Paymentus during the 2nd quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paymentus by 2,948.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 4,629 shares in the last quarter. Trexquant Investment LP bought a new stake in Paymentus during the 4th quarter valued at about $254,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Paymentus during the 4th quarter valued at about $283,000. 12.55% of the stock is owned by hedge funds and other institutional investors.

Paymentus Company Profile

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.