Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $35.20

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $35.20.

A number of brokerages have weighed in on PAY. Wedbush raised their target price on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Paymentus from a “hold” rating to a “buy” rating in a research report on Sunday, February 8th. Robert W. Baird raised their target price on shares of Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group cut their target price on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research report on Friday, March 6th.

Paymentus Price Performance

Shares of NYSE:PAY opened at $23.45 on Friday. The company’s 50 day simple moving average is $25.79 and its 200 day simple moving average is $28.55. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 41.14 and a beta of 1.40. Paymentus has a 1 year low of $22.02 and a 1 year high of $40.02.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, analysts anticipate that Paymentus will post 0.65 EPS for the current fiscal year.

Institutional Trading of Paymentus

A number of hedge funds have recently added to or reduced their stakes in PAY. Lisanti Capital Growth LLC acquired a new position in shares of Paymentus during the third quarter worth $3,708,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of Paymentus during the third quarter worth $4,461,000. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in shares of Paymentus during the third quarter worth $6,427,000. Granite Investment Partners LLC acquired a new position in shares of Paymentus during the third quarter worth $8,155,000. Finally, Capital International Investors lifted its holdings in shares of Paymentus by 17.6% during the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after purchasing an additional 1,072,387 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Paymentus Company Profile

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.