Paymentus Holdings, Inc. (NYSE:PAY) Stock Has Consensus Target Price of $38.86

Paymentus Holdings, Inc. (NYSE:PAY) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.86.

A number of equities analysts have recently commented on PAY shares. Weiss Ratings lowered Paymentus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Seaport Research Partners initiated coverage on Paymentus in a research note on Thursday, September 17th. They set a “buy” rating and a $42.00 price objective on the stock. Wolfe Research lowered Paymentus from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group increased their price objective on Paymentus from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Robert W. Baird raised their target price on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th.

Institutional Investors Weigh In On Paymentus

A number of institutional investors and hedge funds have recently modified their holdings of PAY. Bessemer Group Inc. purchased a new stake in Paymentus in the 3rd quarter worth approximately $128,000. Royce & Associates LP bought a new position in Paymentus in the 3rd quarter valued at $2,865,000. Russell Investments Group Ltd. boosted its holdings in Paymentus by 226.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 89,874 shares of the business services provider’s stock valued at $2,754,000 after purchasing an additional 62,326 shares during the period. Fifth Third Bancorp grew its position in shares of Paymentus by 1.0% during the 3rd quarter. Fifth Third Bancorp now owns 65,851 shares of the business services provider’s stock valued at $2,018,000 after purchasing an additional 676 shares in the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Paymentus during the 3rd quarter valued at $252,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Up 2.2%

PAY opened at $34.19 on Friday. Paymentus has a 12 month low of $20.11 and a 12 month high of $45.31. The company has a market cap of $4.31 billion, a PE ratio of 46.84 and a beta of 1.35. The company has a 50 day moving average of $33.14 and a 200 day moving average of $28.94.

Paymentus (NYSE:PAY) last issued its earnings results on Monday, November 2nd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Paymentus had a net margin of 6.65% and a return on equity of 16.14%. The business had revenue of $372.18 million for the quarter, compared to analysts’ expectations of $358.87 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Research analysts forecast that Paymentus will post 0.77 earnings per share for the current fiscal year.

About Paymentus

Paymentus Holdings, Inc provides cloud-based billing and payment technology for businesses and public-sector organizations. Its platform helps billers present bills, accept and process payments, and communicate with customers through digital and other payment channels.

The company serves organizations in sectors such as utilities, financial services, government, healthcare, insurance, and telecommunications. Its services support multiple payment methods and are designed to integrate with clients’ billing and customer-management systems.

Founded in 2004, Paymentus is headquartered in Charlotte, North Carolina, and serves clients primarily in the United States and Canada.