Paymentus (NYSE:PAY) Price Target Raised to $25.00

Paymentus (NYSE:PAY) had its price objective raised by Robert W. Baird from $24.00 to $25.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other analysts also recently weighed in on the company. Baird R W upgraded Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. StockNews.com upgraded Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Canaccord Genuity Group upgraded Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. The Goldman Sachs Group increased their target price on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on Paymentus from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.31.

Paymentus Stock Performance

Shares of NYSE PAY opened at $25.55 on Monday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 111.09 and a beta of 1.46. The business’s 50-day simple moving average is $21.80 and its 200-day simple moving average is $20.39. Paymentus has a 52 week low of $14.17 and a 52 week high of $25.62.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business 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%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. As a group, equities research analysts forecast that Paymentus will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Paymentus

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC increased its holdings in Paymentus by 550.0% during the 3rd quarter. nVerses Capital LLC now owns 1,300 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,100 shares in the last quarter. MCF Advisors LLC increased its stake 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 buying an additional 650 shares during the period. Arcadia Investment Management Corp MI increased its stake 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 buying an additional 1,381 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Paymentus in the 1st quarter valued at $106,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Paymentus in the 1st quarter valued at $136,000. 12.55% of the stock is owned by institutional investors and hedge funds.

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.