Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $35.20.

PAY has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Wedbush lifted their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th.

Paymentus Trading Down 0.0%

NYSE PAY opened at $27.05 on Friday. The stock has a fifty day simple moving average of $23.86 and a 200-day simple moving average of $25.91. The stock has a market cap of $3.40 billion, a PE ratio of 47.47 and a beta of 1.31. Paymentus has a twelve month low of $20.11 and a twelve month high of $39.38.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million for the quarter, compared to analyst estimates of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. Paymentus’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Research analysts predict that Paymentus will post 0.65 EPS for the current year.

Institutional Investors Weigh In On Paymentus

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Paymentus by 155.1% during the 1st quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock worth $8,890,000 after acquiring an additional 212,778 shares in the last quarter. California State Teachers Retirement System grew its position in Paymentus by 77.1% in the 1st quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock valued at $1,629,000 after acquiring an additional 27,921 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Paymentus by 7.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after acquiring an additional 665 shares in the last quarter. Lazard Asset Management LLC grew its position in Paymentus by 83.8% in the 1st quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider’s stock valued at $1,854,000 after acquiring an additional 33,278 shares in the last quarter. Finally, Castleark Management LLC purchased a new stake in Paymentus during the first quarter worth about $6,878,000. 78.38% of the stock is owned by institutional investors and hedge funds.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.