Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Recommendation of “Hold” by Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.81.

PAY has been the topic of a number of analyst reports. Robert W. Baird boosted their target price on shares of Paymentus from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Wells Fargo & Company began coverage on Paymentus in a report on Wednesday, January 17th. They set an “equal weight” rating and a $17.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. TheStreet downgraded shares of Paymentus from a “c-” rating to a “d+” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group boosted 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.

Paymentus Price Performance

Shares of PAY opened at $20.12 on Friday. Paymentus has a 1 year low of $7.76 and a 1 year high of $25.21. The stock’s fifty day moving average price is $19.88 and its two-hundred day moving average price is $17.67. The firm has a market cap of $2.49 billion, a PE ratio of 111.78 and a beta of 1.52.

Paymentus (NYSE:PAY) last announced its quarterly earnings data 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. The business had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. Sell-side analysts anticipate that Paymentus will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paymentus

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC purchased a new position in shares of Paymentus during the 2nd quarter valued at about $32,000. Bank of New York Mellon Corp boosted its stake in Paymentus by 88.4% in the third quarter. Bank of New York Mellon Corp now owns 37,493 shares of the business services provider’s stock worth $622,000 after buying an additional 17,592 shares in the last quarter. Swiss National Bank grew 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 acquiring an additional 1,400 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Paymentus during the third quarter worth approximately $11,806,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Paymentus in the 3rd quarter worth approximately $8,026,000. 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.