Paymentus (NYSE:PAY) Trading Down 5.1% - Should You Sell?

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) traded down 5.1% on Monday . The stock traded as low as $25.27 and last traded at $25.28. 133,524 shares were traded during trading, a decline of 45% from the average session volume of 241,607 shares. The stock had previously closed at $26.64.

Analyst Ratings Changes

PAY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Paymentus from $21.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. 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, October 14th. The Goldman Sachs Group lifted their price target on shares of Paymentus from $21.00 to $23.50 and gave the company a "neutral" rating in a research report on Friday, August 9th. Baird R W upgraded shares of Paymentus from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group raised Paymentus to a "strong-buy" rating in a research report on Monday, July 8th. Seven investment 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 stock. Based on data from MarketBeat, Paymentus has a consensus rating of "Moderate Buy" and a consensus price target of $20.31.

Paymentus Price Performance

The firm's fifty day moving average price is $22.02 and its 200-day moving average price is $20.45. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 111.22 and a beta of 1.46.

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

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently bought and sold shares of PAY. Quadrature Capital Ltd acquired a new stake in shares of Paymentus in the fourth quarter worth about $537,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Paymentus by 15.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider's stock worth $579,000 after purchasing an additional 3,341 shares in the last quarter. RiverPark Advisors LLC bought a new stake in Paymentus in the 1st quarter valued at $136,000. GSA Capital Partners LLP bought a new position in shares of Paymentus during the 1st quarter worth about $1,053,000. Finally, Essex Investment Management Co. LLC raised its position in Paymentus by 0.6% in the first quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider's stock worth $4,699,000 after purchasing an additional 1,141 shares in the last quarter. 12.55% of the stock is currently 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.