Robert W. Baird Increases Paymentus (NYSE:PAY) Price Target to $36.00

Paymentus (NYSE:PAY - Get Free Report) had its price objective boosted by equities research analysts at Robert W. Baird from $30.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Robert W. Baird's price target points to a potential upside of 4.99% from the stock's current price.

Several other brokerages have also weighed in on PAY. The Goldman Sachs Group set a $28.00 target price on Paymentus and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on shares of Paymentus from $27.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on Paymentus from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Paymentus from a "sell" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Wedbush reiterated an "outperform" rating and set a $38.00 target price on shares of Paymentus in a research report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $31.00.

Paymentus Stock Down 0.8 %

Shares of NYSE PAY opened at $34.29 on Tuesday. The stock has a market capitalization of $4.29 billion, a P/E ratio of 110.61 and a beta of 1.61. The stock's 50 day moving average price is $28.27 and its two-hundred day moving average price is $30.38. Paymentus has a 52-week low of $16.94 and a 52-week high of $38.94.

Paymentus (NYSE:PAY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $275.24 million for the quarter, compared to analyst estimates of $251.16 million. Paymentus had a return on equity of 10.84% and a net margin of 5.19%. The business's quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts anticipate that Paymentus will post 0.39 EPS for the current year.

Insider Activity at Paymentus

In related news, General Counsel Andrew A. Gerber sold 3,070 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $31.98, for a total transaction of $98,178.60. Following the completion of the sale, the general counsel now directly owns 94,855 shares of the company's stock, valued at approximately $3,033,462.90. This trade represents a 3.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sanjay Kalra sold 15,794 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $31.99, for a total value of $505,250.06. Following the completion of the sale, the chief financial officer now owns 466,035 shares in the company, valued at approximately $14,908,459.65. The trade was a 3.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 87.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paymentus

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors lifted its stake in Paymentus by 25.6% in the fourth quarter. Capital International Investors now owns 4,362,065 shares of the business services provider's stock worth $142,509,000 after purchasing an additional 888,914 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Paymentus during the 4th quarter valued at about $24,568,000. TimesSquare Capital Management LLC grew its stake in shares of Paymentus by 63,516.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 675,612 shares of the business services provider's stock worth $17,633,000 after buying an additional 674,550 shares during the last quarter. Invesco Ltd. raised its stake in shares of Paymentus by 246.2% in the fourth quarter. Invesco Ltd. now owns 579,459 shares of the business services provider's stock worth $18,931,000 after purchasing an additional 412,095 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Paymentus in the fourth quarter worth $12,064,000. 78.38% of the stock is 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.

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