Paymentus (NYSE:PAY) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Paymentus from “Hold” to “Buy.” Across analysts, the stock carries a “Moderate Buy” consensus and an average price target of $38.86.
• Paymentus beat quarterly estimates, reporting EPS of $0.25 versus $0.21 expected and revenue of $372.18 million versus $358.87 million expected. Revenue rose 19.8% year over year.
• Shares opened at $33.49, near their 50-day moving average of $33.17; institutional investors own 78.38% of the company’s stock.

Paymentus (NYSE:PAY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on PAY. Yorkville Ives initiated coverage on Paymentus in a report on Tuesday, October 6th. They set an "outperform" rating and a $40.00 target price on the stock. Wolfe Research lowered shares of Paymentus from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, August 25th. Seaport Research Partners began coverage on shares of Paymentus in a research note on Thursday, September 17th. They set a "buy" rating and a $42.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Paymentus from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Finally, Freedom Broker upgraded shares of Paymentus to a "strong-buy" rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.86.

Paymentus Stock Up 0.3%

Shares of NYSE:PAY opened at $33.49 on Friday. The business's 50 day moving average is $33.17 and its 200 day moving average is $28.91. The stock has a market cap of $4.22 billion, a P/E ratio of 45.88 and a beta of 1.35. Paymentus has a 52-week low of $20.11 and a 52-week high of $45.31.

Paymentus (NYSE:PAY - Get Free Report) last posted its earnings results on Monday, November 2nd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Paymentus had a return on equity of 16.54% and a net margin of 6.65%. The firm had revenue of $372.18 million for the quarter, compared to analyst estimates of $358.87 million. During the same quarter in the prior year, the company earned $0.20 EPS. Paymentus's revenue was up 19.8% on a year-over-year basis. On average, sell-side analysts anticipate that Paymentus will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paymentus

Several large investors have recently added to or reduced their stakes in PAY. Nisa Investment Advisors LLC boosted its stake in shares of Paymentus by 71.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,435 shares of the business services provider's stock worth $44,000 after acquiring an additional 600 shares during the last quarter. KBC Group NV bought a new stake in Paymentus in the first quarter worth approximately $41,000. Signaturefd LLC raised its stake in Paymentus by 50.8% during the 3rd quarter. Signaturefd LLC now owns 1,624 shares of the business services provider's stock worth $50,000 after buying an additional 547 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Paymentus in the 3rd quarter valued at $63,000. Finally, ProShare Advisors LLC purchased a new position in shares of Paymentus during the 3rd quarter valued at $229,000. Institutional investors own 78.38% of the company's stock.

About Paymentus

Paymentus Holdings, Inc is a technology company that provides cloud-based bill payment and electronic billing solutions. Its platform enables organizations to present bills, collect payments and communicate with customers through digital channels, including web and mobile applications, text messaging, interactive voice response, payment kiosks and customer service representatives.

The company primarily serves billers in industries such as utilities, financial services, government, telecommunications, insurance and other recurring-payment sectors.

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