Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.19.

PAY has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Paymentus from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. The Goldman Sachs Group upped their target price on Paymentus from $21.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Paymentus from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Canaccord Genuity Group upgraded shares of Paymentus to a “strong-buy” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th.

Paymentus Price Performance

Shares of NYSE:PAY opened at $20.01 on Monday. Paymentus has a 12 month low of $14.17 and a 12 month high of $25.21. The firm has a market capitalization of $2.49 billion, a P/E ratio of 87.00 and a beta of 1.47. The company’s fifty day moving average price is $21.42 and its 200 day moving average price is $20.52.

Paymentus (NYSE:PAY) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $197.42 million for the quarter, compared to analysts’ expectations of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, sell-side analysts anticipate that Paymentus will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently bought and sold shares of PAY. Cubist Systematic Strategies LLC boosted its holdings in shares of Paymentus by 8.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,272 shares of the business services provider’s stock valued at $2,608,000 after purchasing an additional 10,729 shares during the last quarter. Algert Global LLC boosted its holdings in Paymentus by 3.2% in the second quarter. Algert Global LLC now owns 135,056 shares of the business services provider’s stock valued at $2,566,000 after acquiring an additional 4,216 shares during the last quarter. Millennium Management LLC grew its position in Paymentus by 1.1% during the second quarter. Millennium Management LLC now owns 285,781 shares of the business services provider’s stock valued at $5,430,000 after acquiring an additional 3,124 shares during the period. AQR Capital Management LLC acquired a new stake in Paymentus during the second quarter worth about $233,000. Finally, XTX Topco Ltd purchased a new position in shares of Paymentus in the 2nd quarter worth about $339,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

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.