Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $22.00

Paymentus (NYSE:PAY) had its price target lifted by Robert W. Baird from $20.00 to $22.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Raymond James cut shares of Paymentus from an outperform rating to a market perform rating in a report on Thursday, March 14th. TheStreet cut shares of Paymentus from a c- rating to a d+ rating in a report on Thursday, February 15th. 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 report on Wednesday, March 6th. Wells Fargo & Company started coverage on shares of Paymentus in a report on Wednesday, January 17th. They set an equal weight rating and a $17.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Paymentus from $18.00 to $20.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $17.81.

Paymentus Price Performance

Shares of NYSE:PAY opened at $19.22 on Friday. Paymentus has a one year low of $7.76 and a one year high of $25.21. The company has a 50 day moving average of $19.38 and a 200-day moving average of $17.48. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 106.78 and a beta of 1.52.

Paymentus (NYSE:PAY) last issued its quarterly earnings results on Monday, March 4th. The business services provider reported $0.09 EPS for the quarter, topping 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 company had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $157.38 million. During the same quarter in the previous year, the company earned $0.02 EPS. Paymentus’s revenue was up 24.7% on a year-over-year basis. Equities research analysts anticipate that Paymentus will post 0.35 earnings per share for the current year.

Institutional Trading of Paymentus

A number of institutional investors have recently made changes to their positions in PAY. Swiss National Bank lifted its position in shares of Paymentus by 5.4% in the first quarter. Swiss National Bank now owns 27,400 shares of the business services provider’s stock worth $578,000 after purchasing an additional 1,400 shares in the last quarter. Citigroup Inc. lifted its position in shares of Paymentus by 712.5% in the first quarter. Citigroup Inc. now owns 9,441 shares of the business services provider’s stock worth $199,000 after purchasing an additional 8,279 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Paymentus by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,297,010 shares of the business services provider’s stock worth $27,341,000 after purchasing an additional 15,034 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Paymentus in the first quarter worth $546,000. Finally, UBS Group AG lifted its position in shares of Paymentus by 41.6% in the first quarter. UBS Group AG now owns 6,143 shares of the business services provider’s stock worth $129,000 after purchasing an additional 1,805 shares in the last quarter. Institutional investors own 12.55% of the company’s stock.

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.