Paymentus Holdings, Inc. (NYSE:PAY) Receives $17.81 Consensus Price Target from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $17.81.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Monday, April 15th. Wells Fargo & Company assumed coverage on shares of Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Robert W. Baird lifted their target price on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Raymond James cut shares of Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Paymentus by 3.9% during the third quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 1,400 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Paymentus during the fourth quarter valued at approximately $45,000. Barclays PLC purchased a new stake in Paymentus during the second quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paymentus by 2,948.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after buying an additional 4,629 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Paymentus by 1.7% during the third quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider’s stock valued at $12,418,000 after buying an additional 12,400 shares during the last quarter. Institutional investors own 12.55% of the company’s stock.

Paymentus Price Performance

Shares of NYSE PAY opened at $20.78 on Friday. Paymentus has a 1 year low of $7.76 and a 1 year high of $25.21. The stock has a market cap of $2.58 billion, a P/E ratio of 115.44 and a beta of 1.52. The firm has a 50-day moving average of $20.06 and a 200 day moving average of $17.75.

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

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.