Analysts Set Paymentus Holdings, Inc. (NYSE:PAY) Target Price at $17.00

Shares of Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) have been given a consensus recommendation of "Hold" by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.00.

PAY has been the topic of several analyst reports. Raymond James lowered shares of Paymentus from an "outperform" rating to a "market perform" rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their target price on shares of Paymentus from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, March 5th. TheStreet cut shares of Paymentus from a "c-" rating to a "d+" rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, March 6th. Finally, 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 target for the company.

Paymentus Stock Performance

Shares of NYSE PAY traded down $0.66 during mid-day trading on Monday, hitting $22.09. The stock had a trading volume of 249,157 shares, compared to its average volume of 296,646. The company has a 50 day moving average of $18.43 and a two-hundred day moving average of $17.15. Paymentus has a twelve month low of $7.76 and a twelve month high of $25.21. The firm has a market cap of $2.74 billion, a PE ratio of 122.72 and a beta of 1.40.

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

Hedge Funds Weigh In On Paymentus

A number of hedge funds have recently modified their holdings of the stock. Capital International Investors grew its stake in 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 purchasing an additional 494,137 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 107,318 shares during the period. Frontier Capital Management Co. LLC grew its position in Paymentus by 3.5% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,390,302 shares of the business services provider's stock worth $14,682,000 after acquiring an additional 46,925 shares during the last quarter. Clearbridge Investments LLC grew its position in Paymentus by 1.7% during the 3rd quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider's stock worth $12,418,000 after acquiring an additional 12,400 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Paymentus during the 3rd quarter worth approximately $11,806,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.

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.