Paymentus (NYSE:PAY) Shares Gap Up – Should You Buy?

Paymentus Holdings, Inc. (NYSE:PAY) gapped up before the market opened on Thursday . The stock had previously closed at $25.49, but opened at $26.39. Paymentus shares last traded at $26.19, with a volume of 90,642 shares.

Wall Street Analyst Weigh In

PAY has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on Paymentus from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, August 9th. Baird R W raised shares of Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Canaccord Genuity Group raised shares of Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. Finally, StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Seven equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.31.

Paymentus Stock Up 2.9 %

The firm has a market cap of $3.26 billion, a PE ratio of 114.00 and a beta of 1.46. The business has a 50-day moving average price of $21.80 and a two-hundred day moving average price of $20.39.

Paymentus (NYSE:PAY) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The company had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. During the same quarter last year, the company earned $0.06 EPS. Paymentus’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts predict that Paymentus Holdings, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAY. nVerses Capital LLC lifted its position in shares of Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,100 shares during the last quarter. MCF Advisors LLC lifted its holdings in Paymentus by 80.1% during the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider’s stock worth $28,000 after buying an additional 650 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Paymentus by 141.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider’s stock worth $45,000 after acquiring an additional 1,381 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Paymentus during the 1st quarter worth about $106,000. Finally, SG Americas Securities LLC purchased a new position in shares of Paymentus in the 3rd quarter valued at about $132,000. 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.