Paymentus (NYSE:PAY) Lowered to “Neutral” Rating by Robert W. Baird

Paymentus (NYSE:PAY) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. They currently have a $34.00 price target on the business services provider’s stock. Robert W. Baird’s price objective indicates a potential downside of 7.16% from the stock’s previous close.

PAY has been the subject of a number of other reports. Wedbush lifted their target price on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Paymentus presently has an average rating of “Moderate Buy” and an average price target of $35.20.

Paymentus Price Performance

PAY opened at $36.62 on Thursday. The company has a 50 day simple moving average of $25.07 and a two-hundred day simple moving average of $25.75. The firm has a market cap of $4.61 billion, a P/E ratio of 64.25 and a beta of 1.31. Paymentus has a 1-year low of $20.11 and a 1-year high of $39.38.

Paymentus (NYSE:PAY) last issued its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Paymentus had a return on equity of 13.75% and a net margin of 5.78%.The firm had revenue of $358.44 million during the quarter, compared to analyst estimates of $335.45 million. During the same quarter last year, the business posted $0.14 earnings per share. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. Equities analysts anticipate that Paymentus will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Paymentus

Several hedge funds have recently made changes to their positions in the company. KBC Group NV purchased a new stake in Paymentus during the 1st quarter valued at about $41,000. Blue Trust Inc. increased its holdings in Paymentus by 186.8% in the 4th quarter. Blue Trust Inc. now owns 2,025 shares of the business services provider’s stock worth $64,000 after buying an additional 1,319 shares during the period. Los Angeles Capital Management LLC purchased a new position in Paymentus during the 4th quarter worth approximately $80,000. Orange County Employees Retirement System purchased a new stake in shares of Paymentus in the 4th quarter valued at $150,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Paymentus by 26.0% in the fourth quarter. Advisors Asset Management Inc. now owns 5,050 shares of the business services provider’s stock worth $160,000 after acquiring an additional 1,042 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

About Paymentus

Paymentus is a U.S.-based financial technology company that specializes in cloud-native bill payment and presentment solutions. Its platform enables businesses and government entities to manage the entire payment lifecycle, from electronic bill presentment and real-time payment processing to reconciliation and reporting. Through web portals, mobile applications, interactive voice response (IVR) systems and in-person channels, Paymentus helps clients streamline accounts receivable operations, enhance customer engagement and reduce operational costs.

Founded in 2004 and headquartered in Wilmington, Delaware, Paymentus has built a modular suite of services that can be tailored to the needs of various industries.