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

Paymentus Holdings, Inc. (NYSE:PAYGet Free Report) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $35.20.

A number of equities analysts have recently issued reports on PAY shares. Wedbush increased their price objective on shares of Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group lowered their target price on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note 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. Robert W. Baird raised their price target on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a report on Friday, March 6th.

Check Out Our Latest Stock Analysis on PAY

Paymentus Trading Up 2.9%

PAY opened at $21.13 on Wednesday. The stock’s 50 day simple moving average is $25.22 and its 200-day simple moving average is $27.35. The stock has a market cap of $2.66 billion, a PE ratio of 37.07 and a beta of 1.33. Paymentus has a 1 year low of $20.33 and a 1 year high of $39.38.

Paymentus (NYSE:PAYGet Free Report) last issued its earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same period last year, the business earned $0.14 earnings per share. Paymentus’s quarterly revenue was up 30.2% compared to the same quarter last year. Equities analysts forecast that Paymentus will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Paymentus

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Paymentus by 155.1% in the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after acquiring an additional 212,778 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Paymentus by 77.1% during the first quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock valued at $1,629,000 after acquiring an additional 27,921 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Paymentus by 7.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after purchasing an additional 665 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Paymentus by 83.8% in the 1st quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider’s stock valued at $1,854,000 after purchasing an additional 33,278 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in shares of Paymentus in the 1st quarter worth about $6,878,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Paymentus

(Get Free Report)

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.

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Analyst Recommendations for Paymentus (NYSE:PAY)

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