Paymentus Holdings, Inc. (NYSE:PAY) Receives $35.20 Consensus Price Target from Analysts

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.20.

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Robert W. Baird upped their price objective on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group decreased their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Wedbush upped their price objective on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a report on Friday, March 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PAY. Royal Bank of Canada boosted its holdings in shares of Paymentus by 26.8% in the 1st quarter. Royal Bank of Canada now owns 183,144 shares of the business services provider’s stock worth $4,780,000 after acquiring an additional 38,731 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Paymentus by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,295 shares of the business services provider’s stock worth $425,000 after acquiring an additional 683 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Paymentus by 4.2% in the 1st quarter. Millennium Management LLC now owns 243,860 shares of the business services provider’s stock worth $6,365,000 after acquiring an additional 9,890 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Paymentus by 275.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,917 shares of the business services provider’s stock worth $14,927,000 after acquiring an additional 419,736 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Paymentus by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 25,668 shares of the business services provider’s stock worth $841,000 after acquiring an additional 6,616 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Paymentus Stock Up 0.7%

NYSE PAY opened at $24.45 on Friday. The stock has a market cap of $3.07 billion, a P/E ratio of 42.89 and a beta of 1.40. The company’s 50-day simple moving average is $25.94 and its 200 day simple moving average is $28.69. Paymentus has a twelve month low of $22.02 and a twelve month high of $40.03.

Paymentus (NYSE:PAY) last posted its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $358.44 million for the quarter, compared to analysts’ expectations of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Research analysts anticipate that Paymentus will post 0.65 earnings per share for the current year.

Paymentus Company Profile

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.