Paymentus (NYSE:PAY) PT Raised to $22.00 at Citigroup

Paymentus (NYSE:PAY) had its price target hoisted by research analysts at Citigroup from $20.00 to $22.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price suggests a potential upside of 13.58% from the stock’s previous close.

PAY has been the topic of a number of other research reports. Raymond James lowered Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. TheStreet downgraded Paymentus from a “c-” rating to a “d+” rating in a research report on Thursday, February 15th. Wells Fargo & Company lifted their price objective on Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Robert W. Baird upped their target price on shares of Paymentus from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on shares of Paymentus from $20.00 to $22.50 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.06.

Paymentus Stock Performance

Paymentus stock opened at $19.37 on Tuesday. The firm 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 fifty-two week low of $8.61 and a fifty-two week high of $25.21. The stock’s fifty day moving average is $20.89 and its two-hundred day moving average is $18.02.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $164.80 million for 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 was up 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 EPS. As a group, sell-side analysts forecast that Paymentus will post 0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Paymentus

Several hedge funds have recently modified their holdings of PAY. Deutsche Bank AG purchased a new position in Paymentus during the third quarter worth approximately $11,806,000. Lord Abbett & CO. LLC purchased a new position in shares of Paymentus in the 3rd quarter worth $8,026,000. Hillsdale Investment Management Inc. raised its position in shares of Paymentus by 53,916.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock worth $3,475,000 after buying an additional 194,100 shares during the period. CenterBook Partners LP acquired a new position in Paymentus in the fourth quarter valued at $1,465,000. Finally, ClariVest Asset Management LLC grew its position in Paymentus by 128,017.4% during the first quarter. ClariVest Asset Management LLC now owns 58,934 shares of the business services provider’s stock valued at $1,341,000 after acquiring an additional 58,888 shares during the period. 12.55% of the stock is owned by institutional investors and hedge funds.

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.