Paymentus Holdings, Inc. (NYSE:PAY) Receives $17.00 Consensus Price Target from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.00.

PAY has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Paymentus from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Wells Fargo & Company started coverage on shares of Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 target price on the stock. Raymond James lowered shares of Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. Finally, TheStreet downgraded Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in Paymentus by 127.8% during the first quarter. FMR LLC now owns 3,289 shares of the business services provider’s stock worth $29,000 after purchasing an additional 1,845 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Paymentus by 1,571.5% during the 3rd quarter. Royal Bank of Canada now owns 3,109 shares of the business services provider’s stock worth $30,000 after buying an additional 2,923 shares during the last quarter. Barclays PLC bought a new position in shares of Paymentus in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Paymentus in the first quarter valued at about $36,000. Finally, BNP Paribas Arbitrage SNC bought a new stake in Paymentus during the third quarter worth about $41,000. 12.55% of the stock is owned by institutional investors and hedge funds.

Paymentus Trading Up 0.6 %

Shares of NYSE PAY opened at $20.68 on Monday. The firm has a market capitalization of $2.56 billion, a PE ratio of 114.89 and a beta of 1.52. The firm’s 50-day moving average is $18.82 and its 200-day moving average is $17.27. Paymentus has a 1 year low of $7.76 and a 1 year high of $25.21.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $157.38 million. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. As a group, equities research analysts anticipate that Paymentus will post 0.35 earnings per share for the current fiscal year.

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.