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

Shares of Paymentus Holdings, Inc. (NYSE:PAY) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.20.

A number of research firms recently weighed in on PAY. Robert W. Baird upped their price target on Paymentus from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Paymentus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Wedbush boosted their price objective on Paymentus from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th.

Hedge Funds Weigh In On Paymentus

Hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP grew its position in Paymentus by 82.2% in the 4th quarter. Wasatch Advisors LP now owns 8,553,165 shares of the business services provider’s stock worth $270,194,000 after purchasing an additional 3,859,056 shares in the last quarter. Capital International Investors boosted its stake in shares of Paymentus by 6.6% in the 4th quarter. Capital International Investors now owns 7,655,433 shares of the business services provider’s stock worth $241,835,000 after buying an additional 474,780 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Paymentus by 20.7% in the 4th quarter. Vanguard Group Inc. now owns 4,391,890 shares of the business services provider’s stock worth $138,740,000 after buying an additional 753,281 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Paymentus by 115.8% in the third quarter. Invesco Ltd. now owns 3,788,090 shares of the business services provider’s stock valued at $115,916,000 after acquiring an additional 2,032,819 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Paymentus by 4.4% during the fourth quarter. Capital World Investors now owns 2,499,583 shares of the business services provider’s stock valued at $78,962,000 after acquiring an additional 105,970 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Paymentus Trading Up 7.3%

Shares of PAY stock opened at $36.62 on Thursday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 64.25 and a beta of 1.31. The stock has a 50-day moving average of $25.07 and a 200-day moving average of $25.75. Paymentus has a 1-year low of $20.11 and a 1-year high of $39.38.

Paymentus (NYSE:PAY) last released its quarterly earnings results 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. Paymentus had a net margin of 5.78% and a return on equity of 13.75%. 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 earned $0.14 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. Sell-side analysts forecast that Paymentus will post 0.71 earnings per share for the current 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.