Paymentus Holdings, Inc. (NYSE:PAY) Receives Average Rating of “Moderate Buy” from Brokerages

Paymentus Holdings, Inc. (NYSE:PAY) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $35.20.

PAY has been the subject of a number of recent research reports. Wedbush boosted their target price on Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group dropped their target price on Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Robert W. Baird boosted their target price on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $36.00 target price on shares of Paymentus in a research note on Friday, March 6th.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently modified their holdings of PAY. Wasatch Advisors LP grew its position in shares of Paymentus by 82.2% during the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after buying an additional 3,859,056 shares during the period. Invesco Ltd. grew its position in shares of 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 buying an additional 2,032,819 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Paymentus in the fourth quarter worth about $60,452,000. Capital International Investors increased its holdings in shares of Paymentus by 17.6% in the third quarter. Capital International Investors now owns 7,180,653 shares of the business services provider’s stock worth $219,728,000 after acquiring an additional 1,072,387 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Paymentus by 148.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,580,593 shares of the business services provider’s stock worth $49,931,000 after acquiring an additional 943,244 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Paymentus Stock Up 0.2%

PAY stock opened at $21.15 on Wednesday. The company has a market cap of $2.66 billion, a P/E ratio of 37.11 and a beta of 1.33. Paymentus has a twelve month low of $20.33 and a twelve month high of $39.38. The business has a fifty day moving average of $24.98 and a 200-day moving average of $27.10.

Paymentus (NYSE:PAY) last released its earnings results on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities research analysts anticipate that Paymentus will post 0.65 earnings per share 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.