Paymentus (NYSE:PAY) PT Raised to $22.00 at Robert W. Baird

Paymentus (NYSE:PAY) had its price target increased by investment analysts at Robert W. Baird from $20.00 to $22.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 9.34% from the company’s current price.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. upped their price target on Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Raymond James lowered Paymentus from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 14th. Wells Fargo & Company started coverage on Paymentus in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $17.00 price target on the stock. The Goldman Sachs Group upped their price target on Paymentus from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Finally, TheStreet lowered Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.50.

Paymentus Trading Down 3.0 %

Paymentus stock opened at $20.12 on Friday. The stock has a market cap of $2.49 billion, a P/E ratio of 111.78 and a beta of 1.52. The stock has a 50 day moving average of $19.31 and a 200-day moving average of $17.46. Paymentus has a 52 week low of $7.76 and a 52 week high of $25.21.

Paymentus (NYSE:PAY) last released its earnings results on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $164.80 million during 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 business’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 EPS. As a group, equities analysts predict that Paymentus will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in shares of Paymentus during the fourth quarter valued at $537,000. Vanguard Group Inc. increased its holdings in shares of Paymentus by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 1,380,373 shares of the business services provider’s stock valued at $24,667,000 after purchasing an additional 34,438 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Paymentus by 731.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 119,653 shares of the business services provider’s stock valued at $2,138,000 after purchasing an additional 105,268 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Paymentus during the fourth quarter valued at $403,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Paymentus during the fourth quarter valued at $697,000. 12.55% of the stock is owned by institutional investors and hedge funds.

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.