Paymentus (NYSE:PAY) Announces Earnings Results

Paymentus (NYSE:PAY) announced its quarterly earnings results on Monday. The business services provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02, Briefing.com reports. The company had revenue of $257.88 million for the quarter, compared to analyst estimates of $222.06 million. Paymentus had a net margin of 5.19% and a return on equity of 10.84%. Paymentus’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the business earned $0.09 EPS.

Paymentus Stock Down 5.5 %

NYSE PAY traded down $1.44 during trading hours on Monday, hitting $24.92. The company had a trading volume of 873,121 shares, compared to its average volume of 316,519. The firm has a market cap of $3.11 billion, a P/E ratio of 80.38 and a beta of 1.68. The business has a fifty day simple moving average of $30.45 and a 200-day simple moving average of $28.41. Paymentus has a fifty-two week low of $16.94 and a fifty-two week high of $38.94.

Insider Buying and Selling

In other Paymentus news, CFO Sanjay Kalra sold 15,794 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the transaction, the chief financial officer now directly owns 466,035 shares in the company, valued at $14,908,459.65. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew A. Gerber sold 3,070 shares of Paymentus stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $31.98, for a total value of $98,178.60. Following the transaction, the general counsel now directly owns 94,855 shares in the company, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 87.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAY. Wells Fargo & Company upped their price target on Paymentus from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wedbush started coverage on Paymentus in a report on Monday, February 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group raised their price objective on Paymentus from $23.50 to $33.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Canaccord Genuity Group lowered Paymentus from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Robert W. Baird raised their target price on Paymentus from $25.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Paymentus has an average rating of “Hold” and a consensus price target of $30.00.

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.