Paymentus (NYSE:PAY) Price Target Raised to $21.00

Paymentus (NYSE:PAY) had its target price upped by stock analysts at Wells Fargo & Company from $19.00 to $21.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.42% from the company’s current price.

PAY has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Raymond James downgraded shares of Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. TheStreet cut Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. The Goldman Sachs Group increased their target price on Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Robert W. Baird lifted their price target on Paymentus from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.06.

Paymentus Trading Up 0.8 %

Paymentus stock opened at $19.37 on Tuesday. Paymentus has a 1-year low of $8.61 and a 1-year high of $25.21. The firm has a market cap of $2.40 billion, a P/E ratio of 107.61 and a beta of 1.54. The firm has a 50-day moving average of $20.89 and a 200-day moving average of $18.02.

Paymentus (NYSE:PAY) last released its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The business had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $157.38 million. During the same quarter last year, the business posted $0.02 EPS. The business’s revenue was up 24.7% on a year-over-year basis. Research analysts forecast that Paymentus will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paymentus

Several large investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC increased its stake in Paymentus by 0.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock valued at $4,699,000 after purchasing an additional 1,141 shares in the last quarter. Swiss National Bank increased its position in shares of Paymentus by 3.9% during the third quarter. Swiss National Bank now owns 37,500 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 1,400 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Paymentus during the fourth quarter valued at approximately $45,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Paymentus by 15.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider’s stock worth $579,000 after acquiring an additional 3,341 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Paymentus by 2,948.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,786 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 4,629 shares in the last quarter. Hedge funds and other institutional investors own 12.55% of the company’s stock.

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.