Paymentus Holdings, Inc. (NYSE:PAY) Receives Consensus Rating of “Moderate Buy” from Analysts

Paymentus Holdings, Inc. (NYSE:PAY) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.20.

PAY has been the subject of several recent analyst reports. Wall Street Zen raised shares of Paymentus from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Wedbush upped their price objective on shares of Paymentus from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. The Goldman Sachs Group decreased their price objective on shares of Paymentus from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Robert W. Baird upped their price objective on shares of Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $36.00 price objective on shares of Paymentus in a report on Friday, March 6th.

Institutional Trading of Paymentus

A number of hedge funds have recently bought and sold shares of PAY. Bank of America Corp DE boosted its holdings in Paymentus by 155.1% in the 1st quarter. Bank of America Corp DE now owns 349,993 shares of the business services provider’s stock valued at $8,890,000 after purchasing an additional 212,778 shares during the period. California State Teachers Retirement System boosted its holdings in Paymentus by 77.1% in the 1st quarter. California State Teachers Retirement System now owns 64,131 shares of the business services provider’s stock valued at $1,629,000 after purchasing an additional 27,921 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Paymentus by 7.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,943 shares of the business services provider’s stock valued at $253,000 after purchasing an additional 665 shares during the period. Lazard Asset Management LLC boosted its holdings in Paymentus by 83.8% in the 1st quarter. Lazard Asset Management LLC now owns 72,999 shares of the business services provider’s stock valued at $1,854,000 after purchasing an additional 33,278 shares during the period. Finally, Castleark Management LLC bought a new stake in Paymentus in the 1st quarter valued at $6,878,000. 78.38% of the stock is owned by institutional investors.

Paymentus Stock Up 1.1%

PAY stock opened at $24.40 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 42.81 and a beta of 1.40. Paymentus has a 12 month low of $22.02 and a 12 month high of $40.02. The firm has a 50 day moving average of $25.88 and a two-hundred day moving average of $28.62.

Paymentus (NYSE:PAY) last posted its quarterly earnings data on Monday, May 4th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $358.44 million during the quarter, compared to the consensus estimate of $335.45 million. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. Paymentus’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, research analysts expect that Paymentus will post 0.65 EPS for the current fiscal year.

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.