Brokerages Set Paymentus Holdings, Inc. (NYSE:PAY) Price Target at $35.20

Paymentus Holdings, Inc. (NYSE:PAY) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.20.

PAY has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Robert W. Baird upped their target price on Paymentus from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Wedbush increased their price target 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP raised its position in Paymentus by 82.2% in the fourth quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after acquiring an additional 3,859,056 shares in the last quarter. Capital International Investors grew its position in shares of Paymentus by 6.6% in the fourth quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock valued at $241,835,000 after purchasing an additional 474,780 shares during the last quarter. Vanguard Group Inc. grew its holdings in Paymentus by 20.7% during the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock valued at $138,740,000 after buying an additional 753,281 shares during the last quarter. Invesco Ltd. increased its position in Paymentus by 115.8% during the 3rd quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock worth $115,916,000 after purchasing an additional 2,032,819 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Paymentus by 4.4% during the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock worth $78,962,000 after buying an additional 105,970 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Price Performance

Shares of NYSE:PAY opened at $28.22 on Friday. The firm has a market capitalization of $3.55 billion, a PE ratio of 49.51 and a beta of 1.31. The firm’s 50-day moving average is $23.92 and its two-hundred day moving average is $25.82. Paymentus has a 1 year low of $20.11 and a 1 year high of $39.38.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. The business had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. Analysts expect that Paymentus will post 0.65 EPS for the current fiscal year.

About Paymentus

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.