Paymentus Holdings, Inc. (NYSE:PAY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.20.

A number of brokerages have recently weighed in on PAY. Raymond James Financial restated a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a research note on Friday, March 6th. 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 note on Tuesday, May 5th. The Goldman Sachs Group dropped their target price on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings raised shares of Paymentus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Wedbush upped their price target on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of PAY. Plato Investment Management Ltd acquired a new stake in Paymentus in the 3rd quarter worth $33,000. KBC Group NV acquired a new position in shares of Paymentus during the first quarter valued at about $41,000. Blue Trust Inc. lifted its stake in shares of Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock valued at $64,000 after buying an additional 1,319 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Paymentus in the fourth quarter valued at about $80,000. Finally, Orange County Employees Retirement System acquired a new stake in Paymentus during the fourth quarter worth about $150,000. 78.38% of the stock is owned by institutional investors.

Paymentus Stock Performance

Shares of NYSE PAY opened at $21.13 on Wednesday. The business’s 50-day simple moving average is $25.22 and its 200-day simple moving average is $27.35. Paymentus has a 52 week low of $20.33 and a 52 week high of $39.38. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 37.07 and a beta of 1.33.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. As a group, equities research analysts forecast that Paymentus will post 0.65 earnings per share for the current year.

About Paymentus

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.