Paymentus (NYSE:PAY) PT Raised to $22.00 at Robert W. Baird

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

Other research analysts have also issued reports about the company. Raymond James lowered Paymentus from an outperform rating to a market perform rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. increased their price objective on Paymentus from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Wells Fargo & Company started coverage on Paymentus in a research note on Wednesday, January 17th. They issued an equal weight rating and a $17.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Paymentus from $18.00 to $20.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. Finally, TheStreet cut Paymentus from a c- rating to a d+ rating in a research note on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $17.81.

Paymentus Stock Performance

Shares of Paymentus stock opened at $19.22 on Friday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 106.78 and a beta of 1.52. Paymentus has a fifty-two week low of $7.76 and a fifty-two week high of $25.21. The stock has a 50 day moving average of $19.38 and a 200 day moving average of $17.48.

Paymentus (NYSE:PAY) last released 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 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 analyst estimates of $157.38 million. During the same period last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. Analysts forecast that Paymentus will post 0.35 EPS for the current year.

Institutional Trading of Paymentus

A number of hedge funds and other institutional investors have recently bought and sold shares of PAY. Swiss National Bank raised its stake in Paymentus by 5.4% in the first quarter. Swiss National Bank now owns 27,400 shares of the business services provider’s stock valued at $578,000 after buying an additional 1,400 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Paymentus by 712.5% during 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 during the last quarter. Vanguard Group Inc. grew its holdings in shares of Paymentus by 1.2% during 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 during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Paymentus during the first quarter worth about $546,000. Finally, UBS Group AG grew its holdings in shares of Paymentus by 41.6% during 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 during the last quarter. 12.55% of the stock is currently 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.