Paymentus (NYSE:PAY) PT Raised to $25.00 at Robert W. Baird

Paymentus (NYSE:PAY) had its price target increased by equities research analysts at Robert W. Baird from $24.00 to $25.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 6.25% from the stock’s previous close.

Several other research firms have also recently issued reports on PAY. Canaccord Genuity Group raised Paymentus to a “strong-buy” rating in a research note on Monday, July 8th. StockNews.com raised Paymentus from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. The Goldman Sachs Group boosted their target price on Paymentus from $21.00 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Baird R W raised Paymentus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on Paymentus from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Paymentus presently has an average rating of “Moderate Buy” and a consensus price target of $20.31.

Paymentus Stock Up 2.2 %

PAY stock opened at $23.53 on Monday. The business has a fifty day moving average of $21.66 and a two-hundred day moving average of $20.35. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 102.30 and a beta of 1.46. Paymentus has a 52-week low of $14.17 and a 52-week high of $25.21.

Paymentus (NYSE:PAY) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $197.42 million during the quarter, compared to analysts’ expectations of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. As a group, sell-side analysts anticipate that Paymentus will post 0.32 EPS for the current year.

Institutional Trading of Paymentus

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new stake in shares of Paymentus in the 4th quarter valued at about $537,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Paymentus by 15.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,441 shares of the business services provider’s stock valued at $579,000 after purchasing an additional 3,341 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Paymentus in the 1st quarter valued at about $136,000. GSA Capital Partners LLP purchased a new stake in shares of Paymentus in the 1st quarter valued at about $1,053,000. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Paymentus by 0.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 206,550 shares of the business services provider’s stock valued at $4,699,000 after purchasing an additional 1,141 shares during the last quarter. 12.55% of the stock is owned by hedge funds and other institutional investors.

Paymentus Company Profile

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.