Paymentus (NYSE:PAY) Price Target Increased to $22.00 by Analysts at Citigroup

Paymentus (NYSE:PAY) had its target price hoisted by research analysts at Citigroup from $20.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price would suggest a potential upside of 18.09% from the stock’s current price.

A number of other research firms have also issued reports on PAY. The Goldman Sachs Group boosted their target price on shares of Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research note on Monday, April 15th. Raymond James downgraded shares of Paymentus from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. Wells Fargo & Company boosted their target price on shares of Paymentus from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday. TheStreet downgraded shares of Paymentus from a “c-” rating to a “d+” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Paymentus from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.06.

Paymentus Trading Down 16.1 %

PAY traded down $3.57 during trading on Tuesday, reaching $18.63. 1,033,649 shares of the company were exchanged, compared to its average volume of 300,383. The stock has a market cap of $2.31 billion, a P/E ratio of 102.72 and a beta of 1.54. Paymentus has a 52 week low of $7.94 and a 52 week high of $25.21. The firm has a 50 day moving average of $20.73 and a 200 day moving average of $17.98.

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 analysts’ consensus estimates of $0.06 by $0.03. The business 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 company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. As a group, analysts forecast that Paymentus will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paymentus

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Paymentus in the 4th quarter worth approximately $45,000. 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 worth $86,000 after buying an additional 4,629 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in Paymentus in the 1st quarter worth approximately $136,000. Trexquant Investment LP acquired a new position in shares of Paymentus during the 4th quarter worth $254,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Paymentus during the 4th quarter worth $283,000. Institutional investors and hedge funds 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.