Paymentus (NYSE:PAY) Sets New 52-Week Low – Here’s What Happened

Paymentus Holdings, Inc. (NYSE:PAY) shares reached a new 52-week low during trading on Friday . The stock traded as low as $20.52 and last traded at $20.65, with a volume of 519945 shares changing hands. The stock had previously closed at $21.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PAY shares. The Goldman Sachs Group cut their price target on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen upgraded Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Raymond James Financial restated a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a research report on Friday, March 6th. Weiss Ratings upgraded shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird upped their price objective on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paymentus has an average rating of “Moderate Buy” and a consensus price target of $35.20.

Paymentus Trading Down 1.2%

The firm has a market capitalization of $2.63 billion, a PE ratio of 36.68 and a beta of 1.33. The business has a 50 day moving average price of $25.38 and a 200-day moving average price of $27.61.

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

Hedge Funds Weigh In On Paymentus

A number of large investors have recently modified their holdings of PAY. Wasatch Advisors LP raised its stake in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares in the last quarter. Invesco Ltd. raised its stake in shares of Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after buying an additional 2,032,819 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Paymentus during the 4th quarter worth approximately $60,452,000. Capital International Investors raised its stake in shares of Paymentus by 17.6% during the 3rd quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after buying an additional 1,072,387 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Paymentus by 148.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after buying an additional 943,244 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

About Paymentus

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.