Paymentus (NYSE:PAY) Given New $22.00 Price Target at Citigroup

Paymentus (NYSE:PAY) had its price objective upped by Citigroup from $20.00 to $22.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research firms have also recently issued reports on PAY. TheStreet cut shares of Paymentus from a c- rating to a d+ rating in a research report on Thursday, February 15th. Robert W. Baird upped their price target on Paymentus from $22.00 to $23.00 and gave the company a neutral rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on Paymentus from $19.00 to $21.00 and gave the stock an equal weight rating in a report on Tuesday. JPMorgan Chase & Co. boosted 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. Finally, Raymond James lowered Paymentus from an outperform rating to a market perform rating in a research note on Thursday, March 14th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $19.06.

Paymentus Trading Down 13.5 %

PAY opened at $19.20 on Tuesday. The company has a market cap of $2.38 billion, a P/E ratio of 106.67 and a beta of 1.54. Paymentus has a 12 month low of $7.94 and a 12 month high of $25.21. The business’s 50-day moving average price is $20.81 and its 200-day moving average price is $18.01.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The firm had revenue of $164.80 million during the quarter, compared to analyst estimates of $157.38 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. Equities research analysts forecast that Paymentus will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PAY. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Paymentus in the 4th quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paymentus by 2,948.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock worth $86,000 after acquiring an additional 4,629 shares during the period. RiverPark Advisors LLC purchased a new position in shares of Paymentus during the first quarter valued at approximately $136,000. Trexquant Investment LP bought a new position in Paymentus during the fourth quarter valued at approximately $254,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Paymentus in the fourth quarter worth approximately $283,000. 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.