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 rating of “Hold” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.81.

Several research firms have recently weighed in on PAY. TheStreet downgraded shares of Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. Raymond James downgraded shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note 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 research note on Friday, April 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th.

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Paymentus during the fourth quarter valued at about $537,000. CenterBook Partners LP acquired a new stake in shares of Paymentus during the fourth quarter valued at about $1,465,000. Trexquant Investment LP acquired a new stake in shares of Paymentus during the fourth quarter valued at about $254,000. Hillsdale Investment Management Inc. increased its position in shares of Paymentus by 53,916.7% during the fourth quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock valued at $3,475,000 after acquiring an additional 194,100 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Paymentus during the fourth quarter valued at about $283,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Down 0.9 %

PAY opened at $20.40 on Friday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 112.39 and a beta of 1.51. Paymentus has a 52-week low of $7.76 and a 52-week high of $25.21. The firm’s fifty day simple moving average is $20.15 and its two-hundred day simple moving average is $17.79.

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 the consensus estimate of $0.06 by $0.03. The firm 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%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. On average, research analysts forecast that Paymentus will post 0.35 EPS for the current year.

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.