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

Paymentus (NYSE:PAY) had its price target hoisted by The Goldman Sachs Group from $20.00 to $22.50 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

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

Paymentus Price Performance

Shares of PAY stock opened at $19.61 on Monday. Paymentus has a 1-year low of $7.76 and a 1-year high of $25.21. The firm’s 50-day simple moving average is $19.60 and its 200-day simple moving average is $17.53. The firm has a market cap of $2.43 billion, a P/E ratio of 108.94 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAY. Geode Capital Management LLC increased its holdings in Paymentus by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 155,356 shares of the business services provider’s stock worth $1,376,000 after purchasing an additional 1,126 shares during the last quarter. Swiss National Bank increased its stake in shares of Paymentus by 3.9% in the third quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock worth $622,000 after buying an additional 1,400 shares during the last quarter. American Trust raised its holdings in Paymentus by 13.6% in the fourth quarter. American Trust now owns 13,741 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 1,641 shares in the last quarter. Advisors Asset Management Inc. bought a new position in Paymentus during the 1st quarter valued at $36,000. Finally, UBS Group AG boosted its stake in Paymentus by 41.6% during the 1st quarter. UBS Group AG now owns 6,143 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 1,805 shares during the last quarter. Hedge funds and other 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.