Paymentus Holdings, Inc. (NYSE:PAY – Get Free Report)’s stock price traded up 9% during trading on Friday . The company traded as high as $22.87 and last traded at $23.1760. 540,221 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 692,654 shares. The stock had previously closed at $21.27.
Analyst Ratings Changes
A number of brokerages recently weighed in on PAY. Robert W. Baird lifted their target price 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. Wedbush increased their price target on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 price objective on shares of Paymentus in a research report on Friday, March 6th. Finally, Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.20.
Get Our Latest Stock Report on PAY
Paymentus Trading Up 8.8%
Paymentus (NYSE:PAY – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The business had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same period last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, analysts predict that Paymentus Holdings, Inc. will post 0.65 EPS for the current year.
Institutional Trading of Paymentus
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. KBC Group NV acquired a new position in Paymentus during the 1st quarter worth approximately $41,000. Blue Trust Inc. boosted its holdings in Paymentus by 186.8% in the fourth quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after acquiring an additional 1,319 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Paymentus in the 4th quarter valued at $80,000. Orange County Employees Retirement System acquired a new position in shares of Paymentus during the fourth quarter valued at about $150,000. Finally, Advisors Asset Management Inc. boosted its stake in Paymentus by 26.0% during the 4th quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 1,042 shares during the last quarter. 78.38% of the stock is owned by institutional investors.
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.
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