Paymentus (NYSE:PAY) PT Raised to $21.00

Paymentus (NYSE:PAY) had its price target boosted by analysts at Wells Fargo & Company from $19.00 to $21.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 8.42% from the company’s current price.

Several other brokerages have also commented on PAY. Raymond James lowered Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. The Goldman Sachs Group lifted their price objective on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird increased their price objective on shares of Paymentus from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Paymentus has a consensus rating of “Hold” and a consensus target price of $19.06.

Paymentus Price Performance

Shares of PAY stock opened at $19.37 on Tuesday. The stock has a market capitalization of $2.40 billion, a PE ratio of 107.61 and a beta of 1.54. The business’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $18.02. Paymentus has a one year low of $8.61 and a one year high of $25.21.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $157.38 million. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. Paymentus’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. As a group, research analysts expect that Paymentus will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Paymentus by 88.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 37,493 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 17,592 shares in the last quarter. Swiss National Bank lifted its position in shares of 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 in the last quarter. Deutsche Bank AG bought a new position in shares of Paymentus during the third quarter valued at about $11,806,000. Lord Abbett & CO. LLC bought a new stake in Paymentus in the 3rd quarter worth about $8,026,000. Finally, Clearbridge Investments LLC increased its stake in Paymentus by 1.7% in the 3rd 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 Company Profile

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.