Paymentus (NYSE:PAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Paymentus (NYSE:PAY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently weighed in on PAY. Weiss Ratings downgraded Paymentus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Robert W. Baird increased their price objective on Paymentus from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Yorkville Ives initiated coverage on Paymentus in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $40.00 price objective for the company. Seaport Research Partners initiated coverage on Paymentus in a report on Thursday, September 17th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Wolfe Research lowered shares of Paymentus from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.86.

Paymentus Stock Up 2.2%

Shares of Paymentus stock opened at $34.19 on Friday. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 46.84 and a beta of 1.35. Paymentus has a 52-week low of $20.11 and a 52-week high of $45.31. The company’s 50-day simple moving average is $33.14 and its 200-day simple moving average is $28.94.

Paymentus (NYSE:PAY) last announced its quarterly earnings data on Monday, November 2nd. The business services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Paymentus had a net margin of 6.65% and a return on equity of 16.14%. The firm had revenue of $372.18 million during the quarter, compared to the consensus estimate of $358.87 million. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts anticipate that Paymentus will post 0.77 EPS for the current year.

Institutional Trading of Paymentus

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Paymentus by 50.8% in the 3rd quarter. Signaturefd LLC now owns 1,624 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 547 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Paymentus by 71.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,435 shares of the business services provider’s stock worth $44,000 after buying an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company grew 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 buying an additional 665 shares during the period. Fifth Third Bancorp grew its holdings in Paymentus by 1.0% in the 3rd quarter. Fifth Third Bancorp now owns 65,851 shares of the business services provider’s stock valued at $2,018,000 after buying an additional 676 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Paymentus by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 43,292 shares of the business services provider’s stock valued at $1,100,000 after buying an additional 1,468 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Paymentus Company Profile

Paymentus Holdings, Inc provides cloud-based billing and payment technology for businesses and public-sector organizations. Its platform helps billers present bills, accept and process payments, and communicate with customers through digital and other payment channels.

The company serves organizations in sectors such as utilities, financial services, government, healthcare, insurance, and telecommunications. Its services support multiple payment methods and are designed to integrate with clients’ billing and customer-management systems.

Founded in 2004, Paymentus is headquartered in Charlotte, North Carolina, and serves clients primarily in the United States and Canada.