Paymentus Holdings, Inc. (NYSE:PAY) Receives $20.31 Average Price Target from Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.31.

Several equities research analysts recently weighed in on PAY shares. The Goldman Sachs Group upped their price target on Paymentus from $21.00 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased 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. Robert W. Baird increased their target price on Paymentus from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday. Baird R W raised Paymentus from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 10th. Finally, Canaccord Genuity Group raised Paymentus to a "strong-buy" rating in a research note on Monday, July 8th.

Paymentus Stock Performance

Shares of Paymentus stock traded up $0.34 during midday trading on Friday, reaching $26.64. 390,980 shares of the company's stock traded hands, compared to its average volume of 197,676. The company has a market cap of $3.32 billion, a PE ratio of 106.56 and a beta of 1.46. The stock has a 50 day moving average of $22.02 and a 200-day moving average of $20.46. Paymentus has a 12 month low of $14.17 and a 12 month high of $27.06.

Paymentus (NYSE:PAY - Get Free Report) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The company had revenue of $197.42 million during the quarter, compared to the consensus estimate of $180.57 million. Paymentus had a return on equity of 9.33% and a net margin of 4.63%. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, equities analysts anticipate that Paymentus will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paymentus

A number of institutional investors and hedge funds have recently modified their holdings of PAY. ClariVest Asset Management LLC raised its position in 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 valued at $1,341,000 after purchasing an additional 58,888 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Paymentus during the 1st quarter valued at $1,053,000. Quadrature Capital Ltd raised its position in Paymentus by 130.1% during the 1st quarter. Quadrature Capital Ltd now owns 69,219 shares of the business services provider's stock valued at $1,575,000 after purchasing an additional 39,136 shares in the last quarter. Sei Investments Co. bought a new stake in Paymentus during the 1st quarter valued at $513,000. Finally, Dimensional Fund Advisors LP raised its position in Paymentus by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 541,049 shares of the business services provider's stock valued at $10,279,000 after purchasing an additional 20,767 shares in the last quarter. 12.55% of the stock is owned by 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.