Paymentus (NYSE:PAY) Price Target Increased to $23.00 by Analysts at Robert W. Baird

Paymentus (NYSE:PAY) had its price objective upped by investment analysts at Robert W. Baird from $22.00 to $23.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 3.60% from the company’s previous close.

A number of other research firms also recently issued reports on PAY. Wells Fargo & Company began coverage on Paymentus in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $17.00 price target for the company. Raymond James downgraded Paymentus from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 14th. TheStreet downgraded Paymentus from a “c-” rating to a “d+” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on Paymentus from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group lifted their price objective on Paymentus from $20.00 to $22.50 and gave the company a “neutral” rating in a research report on Monday, April 15th. Eight investment 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, Paymentus currently has an average rating of “Hold” and an average target price of $17.94.

Paymentus Stock Performance

NYSE PAY opened at $22.20 on Tuesday. Paymentus has a one year low of $7.94 and a one year high of $25.21. The stock has a 50-day moving average of $20.73 and a 200 day moving average of $17.98. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 123.33 and a beta of 1.54.

Paymentus (NYSE:PAY) last released its quarterly earnings data 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 company had revenue of $164.80 million during the quarter, compared to the consensus estimate of $157.38 million. During the same period last year, the company earned $0.02 EPS. Paymentus’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts predict that Paymentus will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PAY. Deutsche Bank AG purchased a new position in Paymentus in the 3rd quarter worth approximately $11,806,000. Lord Abbett & CO. LLC purchased a new stake in shares of Paymentus during the 3rd quarter worth approximately $8,026,000. Hillsdale Investment Management Inc. raised its holdings in shares of Paymentus by 53,916.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 194,460 shares of the business services provider’s stock worth $3,475,000 after acquiring an additional 194,100 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Paymentus during the 4th quarter worth approximately $1,465,000. Finally, ClariVest Asset Management LLC raised its holdings in shares of Paymentus by 128,017.4% during the 1st quarter. ClariVest Asset Management LLC now owns 58,934 shares of the business services provider’s stock worth $1,341,000 after acquiring an additional 58,888 shares in the last quarter. 12.55% of the stock is owned by hedge funds and other institutional investors.

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.