Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) PT at $35.20

Paymentus Holdings, Inc. (NYSE:PAY) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $35.20.

PAY has been the subject of a number of research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th. Wedbush boosted their price objective on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group dropped their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Robert W. Baird boosted their price objective on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAY. Royal Bank of Canada raised its position in Paymentus by 26.8% in the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after purchasing an additional 38,731 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after purchasing an additional 683 shares during the last quarter. Millennium Management LLC raised its position in Paymentus by 4.2% in the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after purchasing an additional 9,890 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after purchasing an additional 419,736 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Paymentus by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after purchasing an additional 6,616 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Paymentus Trading Up 2.2%

NYSE PAY opened at $21.15 on Wednesday. The stock’s 50 day moving average is $24.98 and its two-hundred day moving average is $27.14. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 37.11 and a beta of 1.33. Paymentus has a 1-year low of $20.33 and a 1-year high of $39.38.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $358.44 million during the quarter, compared to analysts’ expectations of $335.45 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Paymentus’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, analysts predict that Paymentus will post 0.65 earnings per share for the current year.

About Paymentus

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.