Paymentus (NYSE:PAY) Given New $22.50 Price Target at The Goldman Sachs Group

Paymentus (NYSE:PAY - Free Report) had its price objective increased by The Goldman Sachs Group from $20.00 to $22.50 in a research note published on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the business services provider's stock.

A number of other brokerages have also commented on PAY. JPMorgan Chase & Co. upped 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 began coverage on shares of Paymentus in a report on Wednesday, January 17th. They set an equal weight rating and a $17.00 price objective for the company. Raymond James cut shares of Paymentus from an outperform rating to a market perform rating in a research note on Thursday, March 14th. TheStreet cut shares of Paymentus from a c- rating to a d+ rating in a research note on Thursday, February 15th. Finally, Robert W. Baird lifted their price objective on Paymentus from $20.00 to $22.00 and gave the company a neutral rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paymentus presently has an average rating of Hold and an average price target of $17.81.

Paymentus Stock Down 4.5 %

Paymentus stock traded down $0.90 during mid-day trading on Monday, reaching $19.22. The company had a trading volume of 168,800 shares, compared to its average volume of 303,013. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 107.11 and a beta of 1.52. The company has a 50 day moving average of $19.31 and a 200-day moving average of $17.46. Paymentus has a 52 week low of $7.76 and a 52 week high of $25.21.

Paymentus (NYSE:PAY - Get Free Report) last released its earnings results on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $164.80 million during the quarter, compared to analysts' expectations of $157.38 million. Paymentus had a net margin of 3.63% and a return on equity of 7.42%. The firm's revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. On average, analysts predict that Paymentus will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paymentus

Several institutional investors have recently bought and sold shares of PAY. Capital International Investors increased its stake in shares of Paymentus by 43.2% in the first quarter. Capital International Investors now owns 1,637,137 shares of the business services provider's stock valued at $34,511,000 after buying an additional 494,137 shares in the last quarter. Vanguard Group Inc. increased its position in Paymentus by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,464,695 shares of the business services provider's stock valued at $14,236,000 after acquiring an additional 107,318 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Paymentus by 10.5% in the first quarter. Frontier Capital Management Co. LLC now owns 1,343,377 shares of the business services provider's stock worth $11,902,000 after acquiring an additional 127,456 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Paymentus by 1.7% during the third quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider's stock worth $12,418,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Paymentus during the third quarter worth approximately $11,806,000. Institutional investors own 12.55% of the company's stock.

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.