Paymentus (NYSE:PAY) Shares Gap Down to $22.20

Shares of Paymentus Holdings, Inc. (NYSE:PAY) gapped down prior to trading on Tuesday . The stock had previously closed at $22.20, but opened at $20.90. Paymentus shares last traded at $18.66, with a volume of 116,417 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PAY shares. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. Wells Fargo & Company raised their target price on Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday. TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a report on Thursday, February 15th. Citigroup lifted their target price on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Robert W. Baird increased their price target on shares of Paymentus from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.06.

Paymentus Trading Down 0.1 %

The company has a fifty day moving average of $20.89 and a 200-day moving average of $18.02. The stock has a market cap of $2.40 billion, a PE ratio of 83.61 and a beta of 1.54.

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

Institutional Investors Weigh In On Paymentus

Several large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Paymentus during the fourth quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after buying an additional 4,629 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Paymentus during the 1st quarter worth about $106,000. RiverPark Advisors LLC purchased a new position in shares of Paymentus in the 1st quarter valued at about $136,000. Finally, Trexquant Investment LP acquired a new position in Paymentus in the fourth quarter valued at approximately $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.