Paymentus (NYSE:PAY) PT Raised to $25.00

Paymentus (NYSE:PAY) had its price target boosted by Robert W. Baird from $24.00 to $25.00 in a research report report published on Monday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

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

Paymentus Price Performance

Shares of PAY opened at $26.30 on Monday. The stock has a market capitalization of $3.27 billion, a PE ratio of 114.35 and a beta of 1.46. The business’s fifty day moving average price is $21.93 and its 200 day moving average price is $20.43. Paymentus has a 12-month low of $14.17 and a 12-month high of $26.50.

Paymentus (NYSE:PAY) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $197.42 million during the quarter, compared to analyst estimates of $180.57 million. Paymentus had a net margin of 4.63% and a return on equity of 9.33%. Paymentus’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. As a group, research analysts anticipate that Paymentus will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paymentus

A number of hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC grew its holdings in Paymentus by 550.0% during the third 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 during the last quarter. SG Americas Securities LLC acquired a new stake in Paymentus in the 3rd quarter worth $132,000. Cubist Systematic Strategies LLC raised its stake in shares of Paymentus by 8.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after buying an additional 10,729 shares in the last quarter. Algert Global LLC grew its position in Paymentus by 3.2% in the second quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares during the period. Finally, Millennium Management LLC increased its position in shares of Paymentus by 1.1% during the 2nd quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock worth $5,430,000 after purchasing an additional 3,124 shares in the last quarter. Institutional investors and hedge funds 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.