Paymentus (NYSE:PAY) PT Raised to $22.00 at Robert W. Baird

Paymentus (NYSE:PAY - Get Free Report) had its price target upped by equities research analysts at Robert W. Baird from $20.00 to $22.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. Robert W. Baird's price objective suggests a potential upside of 9.34% from the stock's current price.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Paymentus from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Wednesday, March 6th. Wells Fargo & Company assumed coverage on Paymentus in a research report on Wednesday, January 17th. They set an "equal weight" rating and a $17.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Paymentus from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, March 5th. Raymond James downgraded shares of Paymentus from an "outperform" rating to a "market perform" rating in a report on Thursday, March 14th. Finally, TheStreet downgraded shares of Paymentus from a "c-" rating to a "d+" rating in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $17.50.

Paymentus Price Performance

Shares of PAY traded down $0.62 during trading hours on Friday, hitting $20.12. 245,034 shares of the stock were exchanged, compared to its average volume of 304,902. The firm has a market capitalization of $2.49 billion, a P/E ratio of 115.22 and a beta of 1.52. Paymentus has a fifty-two week low of $7.76 and a fifty-two week high of $25.21. The business has a 50-day moving average of $19.23 and a 200-day moving average of $17.42.

Paymentus (NYSE:PAY - Get Free Report) last announced its quarterly earnings data on Monday, March 4th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $164.80 million for the quarter, compared to the consensus estimate of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The firm's revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. As a group, analysts forecast that Paymentus will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Paymentus by 127.8% in the 1st quarter. FMR LLC now owns 3,289 shares of the business services provider's stock worth $29,000 after purchasing an additional 1,845 shares during the period. Royal Bank of Canada raised its holdings in Paymentus by 1,571.5% during the 3rd quarter. Royal Bank of Canada now owns 3,109 shares of the business services provider's stock valued at $30,000 after buying an additional 2,923 shares during the last quarter. Barclays PLC purchased a new stake in Paymentus during the 2nd quarter valued at $32,000. Advisors Asset Management Inc. bought a new stake in Paymentus in the 1st quarter worth $36,000. Finally, BNP Paribas Arbitrage SNC purchased a new position in shares of Paymentus in the third quarter valued at about $41,000. 12.55% of the stock is currently 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.