Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Recommendation of “Hold” from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given an average rating of “Hold” by the eight analysts that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $17.81.

Several equities research analysts have issued reports on PAY shares. Wells Fargo & Company started coverage on Paymentus in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $17.00 price target for the company. Robert W. Baird raised their target price on shares of Paymentus from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. TheStreet cut shares of Paymentus from a “c-” rating to a “d+” rating in a report on Thursday, February 15th. Raymond James downgraded Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th.

Paymentus Trading Down 2.4 %

Paymentus stock opened at $20.12 on Friday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 111.78 and a beta of 1.52. The business has a 50-day moving average of $19.88 and a 200-day moving average of $17.67. Paymentus has a 1 year low of $7.76 and a 1 year high of $25.21.

Paymentus (NYSE:PAY) last issued 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 firm 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 business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. Research analysts anticipate that Paymentus will post 0.35 EPS for the current fiscal year.

Institutional Trading of Paymentus

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