Paymentus (NYSE:PAY) Price Target Increased to $23.00 by Analysts at Robert W. Baird

Paymentus (NYSE:PAY) had its target price lifted by analysts at Robert W. Baird from $22.00 to $23.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price points to a potential upside of 18.74% from the company’s current price.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group raised their target price on Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Monday, April 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 objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Raymond James lowered shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. Finally, TheStreet lowered shares of Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Paymentus presently has an average rating of “Hold” and an average target price of $19.06.

Paymentus Stock Performance

PAY stock opened at $19.37 on Tuesday. The stock’s fifty day moving average is $20.89 and its two-hundred day moving average is $18.02. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 107.61 and a beta of 1.54. Paymentus has a 1 year low of $8.61 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 for the quarter, beating the consensus estimate of $0.06 by $0.03. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The firm had revenue of $164.80 million for the quarter, compared to the consensus estimate of $157.38 million. During the same period last year, the firm posted $0.02 EPS. Paymentus’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts predict that Paymentus will post 0.35 EPS for the current fiscal year.

Institutional Trading of Paymentus

A number of large investors have recently added to or reduced their stakes in PAY. Bank of New York Mellon Corp lifted its position in shares of Paymentus by 88.4% during 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 acquiring an additional 17,592 shares during the last quarter. Swiss National Bank boosted its position in shares of Paymentus by 3.9% in the 3rd quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 1,400 shares during the period. Deutsche Bank AG acquired a new stake in Paymentus during the 3rd quarter worth about $11,806,000. Lord Abbett & CO. LLC acquired a new stake in Paymentus during the 3rd quarter worth about $8,026,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Paymentus by 1.7% in the third quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider’s stock worth $12,418,000 after buying an additional 12,400 shares during the period. 12.55% of the stock is currently owned by institutional investors.

About Paymentus

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.