Paymentus (NYSE:PAY) Shares Gap Up - What's Next?

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) shares 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 traded.

Analysts Set New Price Targets

PAY has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Paymentus from $21.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Canaccord Genuity Group raised Paymentus to a "strong-buy" rating in a research report on Monday, July 8th. Baird R W raised Paymentus from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 10th. Robert W. Baird increased their target price on Paymentus from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, StockNews.com raised Paymentus from a "sell" rating to a "hold" rating in a research report on Saturday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.31.

Paymentus Price Performance

The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 114.35 and a beta of 1.46. The business has a fifty day moving average price of $21.93 and a 200 day moving average price of $20.43.

Paymentus (NYSE:PAY - Get Free Report) last released its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $197.42 million for the quarter, compared to analyst estimates of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. Paymentus's revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. Research analysts anticipate that Paymentus Holdings, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC grew its holdings in Paymentus by 550.0% during the third quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider's stock worth $26,000 after acquiring an additional 1,100 shares during the period. MCF Advisors LLC boosted its position in shares of Paymentus by 80.1% in the 2nd quarter. MCF Advisors LLC now owns 1,461 shares of the business services provider's stock valued at $28,000 after purchasing an additional 650 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Paymentus by 141.1% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,360 shares of the business services provider's stock valued at $45,000 after purchasing an additional 1,381 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Paymentus in the 1st quarter valued at $106,000. Finally, SG Americas Securities LLC acquired a new position in shares of Paymentus in the 3rd quarter valued at $132,000. 12.55% of the stock is owned by institutional investors and hedge funds.

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.