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

Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Three equities 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 price objective among brokers that have issued a report on the stock in the last year is $35.20.

A number of research firms recently issued reports on PAY. Robert W. Baird lifted their target price on Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 11th.

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Hedge Funds Weigh In On Paymentus

A number of institutional investors and hedge funds have recently made changes to their positions in PAY. Bank of America Corp DE increased its stake in shares of Paymentus by 155.1% during the first quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock worth $8,890,000 after buying an additional 212,778 shares during the period. California State Teachers Retirement System lifted its stake in Paymentus by 77.1% in the first quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock worth $1,629,000 after acquiring an additional 27,921 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Paymentus by 7.2% in the first quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock worth $253,000 after acquiring an additional 665 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Paymentus by 83.8% during the 1st quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider’s stock worth $1,854,000 after acquiring an additional 33,278 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Paymentus during the 1st quarter worth approximately $6,878,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Down 0.0%

Paymentus stock opened at $27.05 on Friday. The firm has a market cap of $3.40 billion, a PE ratio of 47.47 and a beta of 1.31. Paymentus has a 52-week low of $20.11 and a 52-week high of $39.38. The company’s 50 day moving average is $23.86 and its two-hundred day moving average is $25.91.

Paymentus (NYSE:PAY – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $358.44 million during 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 revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Paymentus will post 0.65 earnings per share for the current fiscal year.

About Paymentus

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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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