Paymentus (NYSE:PAY) Price Target Increased to $22.50 by Analysts at The Goldman Sachs Group

Paymentus (NYSE:PAY) had its price objective hoisted by The Goldman Sachs Group from $20.00 to $22.50 in a report published on Monday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird boosted their price objective on Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Friday. TheStreet lowered Paymentus from a c- rating to a d+ rating in a report on Thursday, February 15th. Wells Fargo & Company initiated coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an equal weight rating and a $17.00 price target on the stock. Raymond James cut Paymentus from an outperform rating to a market perform rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their target price on Paymentus from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Paymentus presently has an average rating of Hold and a consensus target price of $17.81.

Paymentus Stock Down 4.5 %

Shares of Paymentus stock opened at $19.22 on Monday. The firm has a market capitalization of $2.38 billion, a P/E ratio of 106.78 and a beta of 1.52. Paymentus has a 52 week low of $7.76 and a 52 week high of $25.21. The company has a 50 day moving average price of $19.38 and a 200 day moving average price of $17.48.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 3.63% and a return on equity of 7.42%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, research 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 and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Paymentus by 127.8% in the first quarter. FMR LLC now owns 3,289 shares of the business services provider’s stock valued at $29,000 after buying an additional 1,845 shares during the period. Royal Bank of Canada lifted its holdings in Paymentus by 1,571.5% in the 3rd quarter. Royal Bank of Canada now owns 3,109 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 2,923 shares during the last quarter. Barclays PLC acquired a new stake in Paymentus in the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. bought a new position in shares of Paymentus during the 1st quarter valued at about $36,000. Finally, BNP Paribas Arbitrage SNC acquired a new position in shares of Paymentus in the 3rd quarter worth approximately $41,000. 12.55% of the stock is owned by 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.