Paymentus (NYSE:PAY) Price Target Increased to $22.50 by Analysts at The Goldman Sachs Group

Paymentus (NYSE:PAY) had its price objective raised by The Goldman Sachs Group from $20.00 to $22.50 in a research report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also commented on the company. TheStreet lowered Paymentus from a c- rating to a d+ rating in a research note on Thursday, February 15th. Robert W. Baird lifted their price target on Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Raymond James cut Paymentus from an outperform rating to a market perform rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. raised their price objective on shares of Paymentus from $17.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company started coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an equal weight rating and a $17.00 target price for the company. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $17.81.

Paymentus Stock Performance

PAY opened at $19.61 on Monday. Paymentus has a twelve month low of $7.76 and a twelve month high of $25.21. The business has a 50 day moving average price of $19.60 and a 200 day moving average price of $17.53. The firm has a market cap of $2.43 billion, a P/E ratio of 108.94 and a beta of 1.52.

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

Institutional Investors Weigh In On Paymentus

A number of institutional investors have recently bought and sold shares of the business. Wakefield Asset Management LLLP bought a new position in shares of Paymentus during the 4th quarter worth about $875,000. Deutsche Bank AG acquired a new stake in Paymentus during the third quarter valued at approximately $11,806,000. Vanguard Group Inc. grew its stake in shares of Paymentus by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,345,935 shares of the business services provider’s stock valued at $22,343,000 after purchasing an additional 29,882 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Paymentus in the 4th quarter worth approximately $465,000. Finally, Jump Financial LLC bought a new position in shares of Paymentus during the 4th quarter worth approximately $472,000. Institutional investors and hedge funds 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.