Paymentus (NYSE:PAY) PT Raised to $22.50 at The Goldman Sachs Group

Paymentus (NYSE:PAY) had its price objective increased by investment analysts at The Goldman Sachs Group from $20.00 to $22.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 15.98% from the stock’s previous close.

A number of other equities analysts have also weighed in on PAY. JPMorgan Chase & Co. lifted their price objective on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Robert W. Baird boosted their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TheStreet downgraded shares of Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. Raymond James cut Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. Finally, Wells Fargo & Company assumed coverage on Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.81.

Paymentus Price Performance

Shares of NYSE:PAY opened at $19.40 on Monday. Paymentus has a 1-year low of $7.76 and a 1-year high of $25.21. The stock has a market cap of $2.40 billion, a P/E ratio of 107.78 and a beta of 1.51. The firm has a fifty day moving average price of $19.46 and a 200 day moving average price of $17.50.

Paymentus (NYSE:PAY) last released its quarterly earnings results on Monday, March 4th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. Sell-side analysts expect that Paymentus will post 0.35 EPS for the current fiscal year.

Institutional Trading of Paymentus

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Paymentus by 127.8% in the 1st quarter. FMR LLC now owns 3,289 shares of the business services provider’s stock worth $29,000 after buying an additional 1,845 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Paymentus by 1,571.5% in the third quarter. Royal Bank of Canada now owns 3,109 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 2,923 shares in the last quarter. Barclays PLC acquired a new stake in shares of Paymentus in the second quarter valued at approximately $32,000. Advisors Asset Management Inc. purchased a new position in shares of Paymentus during the 1st quarter worth approximately $36,000. Finally, BNP Paribas Arbitrage SNC acquired a new position in shares of Paymentus during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 12.55% of the company’s stock.

About Paymentus

Paymentus Holdings, Inc provides cloud-based bill payment technology and solutions in the United States and internationally. The company offers electronic bill presentment and payment services, enterprise customer communication, and self-service revenue management to billers through a software-as-a-service technology platform.