Paymentus Holdings, Inc. (NYSE:PAY) Given Consensus Rating of “Hold” by Brokerages

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been given an average recommendation of “Hold” by the nine research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.00.

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Paymentus in a research note on Wednesday, October 8th. Raymond James Financial set a $38.00 target price on shares of Paymentus and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Paymentus from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Wolfe Research raised shares of Paymentus from a “peer perform” rating to an “outperform” rating in a report on Tuesday, July 22nd.

Institutional Investors Weigh In On Paymentus

A number of hedge funds have recently bought and sold shares of PAY. AlphaQuest LLC raised its stake in shares of Paymentus by 152,600.0% in the first quarter. AlphaQuest LLC now owns 1,527 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 1,526 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Paymentus in the first quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Paymentus by 2,763.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,062 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 1,990 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Paymentus by 23.9% in the first quarter. Advisors Asset Management Inc. now owns 3,450 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 665 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in shares of Paymentus in the first quarter valued at $108,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Paymentus Stock Performance

Shares of NYSE PAY opened at $28.61 on Tuesday. Paymentus has a 52-week low of $22.65 and a 52-week high of $40.43. The firm has a 50 day moving average price of $32.70 and a two-hundred day moving average price of $33.37. The stock has a market cap of $3.58 billion, a P/E ratio of 66.54 and a beta of 1.50.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Paymentus had a net margin of 5.37% and a return on equity of 12.63%. The company had revenue of $280.08 million for the quarter, compared to analyst estimates of $262.78 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 41.9% on a year-over-year basis. Analysts predict that Paymentus will post 0.39 earnings per share for the current fiscal year.

About Paymentus

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.