Paymentus (NYSE:PAY) PT Raised to $23.00

Paymentus (NYSE:PAY) had its price target upped by equities research analysts at Robert W. Baird from $22.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 18.74% from the stock’s previous close.

A number of other equities research analysts have also issued reports on PAY. Wells Fargo & Company began coverage on shares of Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 price objective for the company. TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. The Goldman Sachs Group upped their price target on Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.06.

Paymentus Stock Up 0.8 %

NYSE:PAY opened at $19.37 on Tuesday. The stock has a market capitalization of $2.40 billion, a PE ratio of 107.61 and a beta of 1.54. Paymentus has a 52 week low of $8.61 and a 52 week high of $25.21. The stock’s 50-day moving average price is $20.89 and its 200-day moving average price is $18.02.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $164.80 million during the quarter, compared to analyst estimates of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. Paymentus’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. Sell-side analysts expect that Paymentus will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paymentus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Paymentus in the 4th quarter valued at approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,629 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Paymentus in the first quarter valued at about $106,000. RiverPark Advisors LLC purchased a new stake in Paymentus in the 1st quarter valued at approximately $136,000. Finally, Trexquant Investment LP acquired a new position in Paymentus during the 4th quarter worth approximately $254,000. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.