The Goldman Sachs Group Raises Paymentus (NYSE:PAY) Price Target to $22.50

Paymentus (NYSE:PAY) had its price objective boosted by The Goldman Sachs Group from $20.00 to $22.50 in a research report report published on Monday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also recently commented on the stock. Raymond James cut shares of Paymentus from an outperform rating to a market perform rating in a research note on Thursday, March 14th. Wells Fargo & Company assumed coverage on shares of Paymentus in a research note on Wednesday, January 17th. They set an equal weight rating and a $17.00 price target for the company. TheStreet cut shares of Paymentus from a c- rating to a d+ rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on shares of Paymentus from $17.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird raised their price target on shares of Paymentus from $20.00 to $22.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $17.81.

Paymentus Stock Down 1.7 %

PAY stock opened at $19.08 on Monday. Paymentus has a twelve month low of $7.76 and a twelve month high of $25.21. The company has a market cap of $2.36 billion, a PE ratio of 106.00 and a beta of 1.52. The business’s 50-day simple moving average is $19.52 and its 200 day simple moving average is $17.52.

Paymentus (NYSE:PAY) last released its earnings results on Monday, March 4th. The business services provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $164.80 million for the quarter, compared to the consensus estimate of $157.38 million. Paymentus had a return on equity of 7.42% and a net margin of 3.63%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. On average, equities research analysts anticipate that Paymentus will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PAY. Capital International Investors raised its position in Paymentus by 43.2% in the 1st quarter. Capital International Investors now owns 1,637,137 shares of the business services provider’s stock worth $34,511,000 after purchasing an additional 494,137 shares during the last quarter. Vanguard Group Inc. raised its position in Paymentus by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,464,695 shares of the business services provider’s stock worth $14,236,000 after purchasing an additional 107,318 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Paymentus by 10.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,343,377 shares of the business services provider’s stock worth $11,902,000 after purchasing an additional 127,456 shares during the last quarter. Clearbridge Investments LLC raised its position in Paymentus by 1.7% in the 3rd quarter. Clearbridge Investments LLC now owns 748,043 shares of the business services provider’s stock worth $12,418,000 after purchasing an additional 12,400 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Paymentus in the 3rd quarter worth approximately $11,806,000. Institutional investors own 12.55% of the company’s stock.

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.