Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Paymentus Holdings, Inc. has received a consensus rating of "Moderate Buy" from eight brokerage firms, with four issuing buy recommendations and four recommending a hold.
• The average 12-month price target among analysts for Paymentus is $37.00, with some firms setting targets as high as $40.00.
• Paymentus reported earnings of $0.15 per share, beating analyst expectations, alongside a year-over-year revenue increase of 41.9%.

Paymentus Holdings, Inc. (NYSE:PAY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $37.00.

PAY has been the topic of a number of recent research reports. Raymond James Financial set a $38.00 price target on Paymentus and gave the company an "outperform" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group upped their price target on Paymentus from $28.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wall Street Zen raised Paymentus from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. upped their price target on Paymentus from $29.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Wolfe Research raised Paymentus from a "peer perform" rating to an "outperform" rating in a research report on Tuesday, July 22nd.

Paymentus Stock Down 1.2%

PAY stock traded down $0.45 during midday trading on Thursday, hitting $37.00. The company's stock had a trading volume of 208,091 shares, compared to its average volume of 567,676. The stock's 50-day moving average price is $31.86 and its 200 day moving average price is $31.43. Paymentus has a 1 year low of $19.53 and a 1 year high of $40.43. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 86.14 and a beta of 1.54.

Paymentus (NYSE:PAY - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Paymentus had a return on equity of 12.63% and a net margin of 5.37%. The business had revenue of $280.08 million for the quarter, compared to analysts' expectations of $262.78 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business's revenue was up 41.9% on a year-over-year basis. As a group, equities analysts forecast that Paymentus will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Paymentus

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Castleark Management LLC grew its position in shares of Paymentus by 17.8% during the 2nd quarter. Castleark Management LLC now owns 166,830 shares of the business services provider's stock valued at $5,464,000 after purchasing an additional 25,180 shares in the last quarter. Vident Advisory LLC bought a new position in Paymentus in the 2nd quarter worth about $204,000. Wasatch Advisors LP bought a new position in Paymentus in the 2nd quarter worth about $49,582,000. Lazard Asset Management LLC increased its stake in Paymentus by 125,625.0% in the 2nd quarter. Lazard Asset Management LLC now owns 35,203 shares of the business services provider's stock worth $1,152,000 after acquiring an additional 35,175 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Paymentus by 372.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 148,147 shares of the business services provider's stock worth $4,852,000 after acquiring an additional 116,793 shares during the last quarter. 78.38% of the stock is currently owned by 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.